Lon
Well-known member
Federal can be between 20-40%. Not only is your paycheck taxed, your employer also pays your tax too (Payroll taxes). It amounts to income that could be paid to a raise, thus is well over 40-60% of your income, off the bat. Then there is house tax, sales tax, capital gains taxes, etc.
I couldn't believe when I was told "you pay about 60% of your income to government taxes."
The price of housing is already beyond the $ of most young adults as well.
A 'stimulus' check of my own money, well at least a part of it helped, but why does government need this large amount to function, at the expense of young adults barely being able to make it?
Is the tax really this high? Input welcomed and appreciated. -Lon
I couldn't believe when I was told "you pay about 60% of your income to government taxes."
The price of housing is already beyond the $ of most young adults as well.
A 'stimulus' check of my own money, well at least a part of it helped, but why does government need this large amount to function, at the expense of young adults barely being able to make it?
Is the tax really this high? Input welcomed and appreciated. -Lon