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To: bigcat32

Here in FL sales tax is 7.5%. Payroll tax at present takes another 5.65%.

So any employed person here is paying over 13.15% in taxes, no matter how little they make. Much more in reality, of course.

To be fair, much of this is offset by the reverse income tax payments.


18 posted on 12/07/2012 6:22:03 AM PST by Sherman Logan
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To: Sherman Logan
"Here in FL sales tax is 7.5%. Payroll tax at present takes another 5.65%. So any employed person here is paying over 13.15% in taxes, no matter how little they make."

You can't add sales tax in because a large portion of money spent may not be charged sales taxes. Items like rent, mortgages, interest, utilities, and food and labor in most states, are not charged.

22 posted on 12/07/2012 7:03:45 AM PST by norwaypinesavage (Galileo: In science, the authority of a thousand is not worth the humble reasoning of one individual)
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To: Sherman Logan
Here in FL sales tax is 7.5%. Payroll tax at present takes another 5.65%.

So any employed person here is paying over 13.15% in taxes, no matter how little they make. Much more in reality, of course.

There is a problem with your math. No one spends 100% of their income on taxable expenses. Most states do not charge sales tax on the biggest expenditures - food, housing, transportation, services, etc. So to get a realistic figure, you would have to estimate what percentage of their income they spend on taxable items. So if they spend 20% of their income on taxable items, the calculation would be 5.65% (FICA) + (20%*7.5%) = 5.65%+1.5% = 7.15%.

25 posted on 12/07/2012 7:39:38 AM PST by CA Conservative (Texan by birth, Californian by circumstance)
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To: Sherman Logan

Actually, FL sales tax is 6.0%. The rest is local. Where I live it’s a county tax of 1.0% (applied only up to the first $5,000 of a transaction).


27 posted on 12/07/2012 8:15:43 AM PST by Darth Reardon
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