I'm upper middle class, and my annual taxes, total, are rounded off at 18% of my income. (Actual figures from '06)
You have no idea what you are saying. But if you believe that most of us here are ignorant and illogical that's your problem.
At least make your illustrations a bit more honest and less emotionally extreme.
I too am considered upper middle class and my FEDERAL income taxes total for 2006 were exactyl 18%. But the person you replied to said all taxes which includes federal, state, property, school and sales taxes.
You have no idea what you are saying. But if you believe that most of us here are ignorant and illogical that's your problem.
At least make your illustrations a bit more honest and less emotionally extreme.
Well, I am going to throw the BullSh@t flag on that. AMT for "upper middle class" is going to cost you 31% in Federal Tax. Social Security is approx 7.5% (or 15% if you are self employed). Add in state and local income taxes (in NYC that would be 6% and 3.5% respectively). Add in real estate taxes (easily up to $20,000 a year for many NE and CA cities).
And I have not even addes in gas tax, sales tax, phone tax, transfer taxes, etc.
I can get to 50% in total taxes without breaking a sweat
Are you sure you're including all taxes paid? Income taxes to fed, state and local; capital gains taxes; property taxes; sales taxes; social security and medicare taxes; the many and assorted taxes and fees on your phone, cable/ satellite and other utility bills; car taxes; gasoline taxes; gift taxes; estate taxes; in some jurisdictions there's a tax to own a pet.
I'm also upper middle class and paid a whole lot more than 18% of income in taxes.
Taxes are taxes. Did you include sales tax? How about property tax?