Current Events > What is your tax rate?

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FLUFFYGERM
01/15/18 6:55:47 PM
#1:


Meaning, how much of your total earnings go to government (both federal and state) each year?

~30% for me.
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DeanAuryn
01/15/18 6:57:32 PM
#2:


45% income tax and 13% National Insurance

So thats fucking 58% per year.
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a42ozslushie
01/15/18 6:59:33 PM
#3:


and people question the NEET lifestyle. your "government", the people sworn to protect you, are robbing you blind.
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FLUFFYGERM
01/15/18 7:00:32 PM
#4:


a42ozslushie posted...
and people question the NEET lifestyle. your "government", the people sworn to protect you, are robbing you blind.


It definitely sucks to see the 30 to 35 percent hit but it'll be worth it once they give me favorable treatment for having my own business and my own real estate investments.
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TheGoldenEel
01/15/18 7:04:17 PM
#5:


don't you have to be making hella moolah to have a 30% tax rate

not talking about your bracket but your effective tax rate
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littlebro07
01/15/18 7:05:33 PM
#6:


I get 72% of my gross pay after taxes, health insurance, and 401(k).
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FLUFFYGERM
01/15/18 7:05:54 PM
#7:


TheGoldenEel posted...
don't you have to be making hella moolah to have a 30% tax rate

not talking about your bracket but your effective tax rate


what do you consider hella moolah

but yeah my real tax rate is right at 30% right now
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emblem boy
01/15/18 7:06:02 PM
#8:


~30% for me as well, this includes a state tax of 4.6%.

Should be getting a bit back though, so I don't know after that.

Also, we're including the payroll taxes right?
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FLUFFYGERM
01/15/18 7:06:26 PM
#9:


littlebro07 posted...
I get 72% of my gross pay after taxes, health insurance, and 401(k).


what about just taxes, not including 401k and health insurance
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TheGoldenEel
01/15/18 7:07:36 PM
#10:


FLUFFYGERM posted...
TheGoldenEel posted...
don't you have to be making hella moolah to have a 30% tax rate

not talking about your bracket but your effective tax rate


what do you consider hella moolah

but yeah my real tax rate is right at 30% right now

i live in a state with high taxes and this calculator tells me i'd have to be making about $275k a year to have a 30% income tax rate

https://smartasset.com/taxes/income-taxes

obv there are a lot of factors but idk
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emblem boy
01/15/18 7:07:43 PM
#11:


TheGoldenEel posted...
don't you have to be making hella moolah to have a 30% tax rate

not talking about your bracket but your effective tax rate


I think he's adding federal, payroll taxes, and state taxes. So that's gonna bump it up quite a bit
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I Like Toast
01/15/18 7:08:09 PM
#12:


TheGoldenEel posted...
don't you have to be making hella moolah to have a 30% tax rate

not talking about your bracket but your effective tax rate

He's counting federal, state, and fica . His federal will be 15-20, likely less if he actually owns the business. Illinois is 6% basically. With fica being 7.5.
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Makeveli_lives
01/15/18 7:09:02 PM
#13:


Idk, I keep 65-70% of my check after all deductions though at 40k a year roughly
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littlebro07
01/15/18 7:09:02 PM
#14:


FLUFFYGERM posted...
littlebro07 posted...
I get 72% of my gross pay after taxes, health insurance, and 401(k).


what about just taxes, not including 401k and health insurance


About 14% I think
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TheGoldenEel
01/15/18 7:09:36 PM
#15:


I Like Toast posted...
TheGoldenEel posted...
don't you have to be making hella moolah to have a 30% tax rate

not talking about your bracket but your effective tax rate

He's counting federal, state, and fica . His federal will be 15-20, likely less if he actually owns the business. Illinois is 6% basically. With fica being 7.5.

ah i wasn't counting fica
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apocalyptic_4
01/15/18 7:11:38 PM
#16:


30% as of this year.
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FLUFFYGERM
01/15/18 7:18:32 PM
#17:


i mean the first post literally says im asking about the total amount you send to the government (federal and local)
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BreezyExcursion
01/15/18 7:37:55 PM
#18:


i lose 31% of my paycheck

nyc
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SK8T3R215
01/15/18 7:44:31 PM
#19:


69%
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Sphyx
01/15/18 7:48:29 PM
#20:


Not an american.
I think 17%?
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I Like Toast
01/15/18 8:36:54 PM
#21:


Sphyx posted...
Not an american.
I think 17%?


that's incredibly unlikely.
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FLUFFYGERM
01/15/18 8:40:39 PM
#22:


SK8T3R215 posted...
69%


with sales tax and property tax i assume?
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but Marxist theory is extremely consistent, both internally and with reality. -averagejeol
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r4X0r
01/15/18 8:43:16 PM
#23:


It's going to be interesting this year. I top out in the 25% tax bracket, my wife goes up to the 28% tax bracket, but investment and rental income are in there too, so I won't know how it shakes out until the accountant hands me the papers back.
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FLUFFYGERM
01/15/18 8:54:22 PM
#24:


r4X0r posted...
It's going to be interesting this year. I top out in the 25% tax bracket, my wife goes up to the 28% tax bracket, but investment and rental income are in there too, so I won't know how it shakes out until the accountant hands me the papers back.


Congrats! you're killing it. i would love to marry a woman who made as much as i do or more. live would be easy mode.

this year i'm definitely acquiring my first property. looking to use a property to add 15k to my yearly income
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but Marxist theory is extremely consistent, both internally and with reality. -averagejeol
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Sphyx
01/15/18 9:12:00 PM
#25:


I Like Toast posted...
that's incredibly unlikely.

Just looked it up, personal tax rate is 17.5%. I profess to being largely ignorant on taxes, it comes out before i receive my payslip and i don't have to think about it much.

There is also GST, but this topic seems to be on earnings alone.
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kyujo
01/15/18 9:21:48 PM
#26:


Overall about ~33%
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