This poll is just to show what people are actually paying as their effective federal income tax rate. I making this private poll. And only your effective Federal Income tax rate, (taxes/income) not payroll taxes like social security or state taxes or sales taxes, etc....
Last time I did this "right" it was 2012 and my effective tax rates was something like 8%. Now it gets real complicated because I have nontaxable VA benefits (GI Bill etc.) and I don't know if you think that should be included, I got some tax credit for college, and now I actually get an EITC. So yeah, if you include all of that I'm probably at 0% now.
I saying gross income (So total overall income without any deductions) divided by the taxes paid. This is your effective tax rate, and is always lower than the tax bracket, because everyone gets the standard deduction at minimum, so not all income is taxable for income tax purposes, etc.... So income from tax free municipal bonds, VA benefits, etc would all be considered gross income... Though to tell the truth, I went by gross income on my tax forms, which doesn't include employer paid health care benefits.
You cannot image which is the real incidence of taxes in Italy [add to direct taxes on incomes the indirect taxes like VAT ...]. We are above 40% !!!
WOW! More than in Scandinavia [they pay around 47%]. Do you have a welfare comparable to the Scandinavian one?
Impossible, because the highest federal income tax rate is only 39.6%, and that is only for earnings over $413,201. This is about the effective federal income tax rate that most people pay, since that is what most people complain about. The reality is that most people of all ages and income pay about 40% in total taxes for all taxes, state, sales, liquer, income, social security, medicare, etc.: See this link http://www.nber.org/chapters/c0048.pdf , Look at the tables 4.2 and 4.3 on page 20 of the PDF.
I have a variety of income sources, property rentals, annuities, commodities speculation, and gambling and the comps that go with that, most years; given how old some of that is, I wouldn't even know off hand how to calculate the gross, as allowing for inflation and reinvestment and the like or not would give a variety of 'answers', but I pay a high rate on one form, my W-G's, and high rates on the commodities, depending on the year I'm having, but low to none on some other sources. If I had to guess using last year's aggregation of forms probably around 40%, given a moderately good year with the gambling and commodities gains. I pay no state income tax here, but then the state and county imposed fees are higher than in other states that do.
Actually it depends on what the source of income is. The effective rate can be higher than 39.6% due to things like allowable deductions and capital investment allowances.
Why should I have to care if I can just quit on an at-will basis if I feel my Labor is being Taxed too much; only the right likes to complain and appeal to ignorance of our own laws.
everone pays over 14% of SS up to the first 1/4 mill per year. then work comp and unemployment add another 2%or so, and then sales tax, gas tax, etc dump on another 10% for most people. so your other taxes total more than your federal income tax, for most people. also, everyone pays an average of 5% per year of income tax, and that is with AFTER tax money. Also, everything costs you 3-4x as much as it would if the producers, haulers, wholesalers and retailers were not taxed. so you're losing at least half of your income to taxes. We fought the revolutionary war over MUCH less of a % of our income
if you were wealthy enough, could you simply insist your public servants merely and simply, purchase the finest solutions money can buy with an official Mint at their disposal under our form of Capitalism, as that form of appeal to It.
Not sure. They are already filed away in the box in the attic that says "Taxes". Feel free to climb up there if you want, but it is night time and I am afraid of the vampires that guard them. I am sure it is somewhere in the teens, just not sure which precise digit because I do not bother with determining such things.
One thing is for sure -- my tax rate is nowhere near as low as that enjoyed by the big-rich who use all the U. S. Tax Code loopholes and tax shelters to effectively pay little or NOTHING. The big-rich of BOTH political parties like it this way, and they will KEEP it this way....
When I lived in California, my disability pension was taxed at 38% Federal, 12% State. Now I'm in England, I pay no income tax, have free medical care and prescriptions, free bus travel, 33% off rail travel and the pubs are great.
