Posted on 08/22/2014 5:32:51 AM PDT by lifeofgrace
2 days, min., easy peezy.
9.25 days
Very difficult to calculate, and would be very, very large.
Second, it would be irrelevant to the results.
Yeah, the government wants you to think that. If you understood just how large that was, revolt would happen quickly.
I agree, at least 2 days. By the time he pulls all of the taxes figures off the regular monthly utility bills, cable TV/internet, phone bills, etc.
So far, work one does for ones self is still untaxed.
It depends on how much you earn—because some taxes are progressive.
But, if I had to guess, I’d say about 1.7 days per week.
Cities like to call them fees. Indirectly taxed goods add up too. Add even more for regulatory costs. Every thing ypu buy has taxes built in from the producer. I would say upwards of 60% of all income goes to some form of tax or fee.
Does that include vacation weeks and holidays (math based on 5/52) or on days actually spent at work?
I was assumng a 5 day workweek... that’s the way I understood the author’s question. I ignored vacation... for most people that’s a couple weeks out of the 52.
Most months there are 20 work days. Two days of taxes would be roughly 10%. The 9.25 days would be around 46% effective tax rate.
Not knowing where the writer lives its hard to be accurate, but I’d say its between 9.25 and 11 days.
I always figured that one only got paid for the days one actually worked (though some, like 0bama, contribute to progress when being absent from work).
DpM vs. DpW
Bookmark.
So my guess of a likely minimum is 40% (2 of 5) or 8 of 20.
I don’t think that’s important to the main question at hand.. which is closer to the idea of “tax freedom day.” In other words, how much of your income gets siphoned off and run through the government?
It’s a tough calculation to keep track of. That’s why it’s easier to keep an eye on total government spending in relation to the total economy. I think the number comes out to something 25% Federal and 6% state, in relation to GDP. On average, people are going to have to match that, although everybody’s mileage is going to vary.
After more consideration I think I’m low. In New York the effective income tax is 60% for some people. Its easily 50% for many people who make good incomes but aren’t millionaires.
Add in sales tax and the other we pay on a daily basis and I bet you’re up to 60-70%.
The tax burden on the average American family is about 41%. I believe this figure is from the Cato Foundation.
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