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Federal Taxes

Discussion in 'BBS Hangout' started by Bleeding Red, Mar 22, 2013.

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  1. Bleeding Red

    Bleeding Red Member

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    20-25% of my paycheck go to Fed and FICA. I feel like being robbed sometimes:mad:. What percentage of your check go to Uncle Sam? How do they determine the rate?
     
  2. macalu

    macalu Member

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    that's protection money for the <del>mafia</del> government.
     
  3. bobrek

    bobrek Politics belong in the D & D

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    They use a formula based on your income and your number of dependents.
     
  4. DFWRocket

    DFWRocket Member

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    Do you typically get a large refund? If so, they are taking too much out of your paycheck. Have your HR dept change the number of exemptions on your W4.
     
  5. juicystream

    juicystream Member

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    A minimum of 7.65%
     
  6. bejezuz

    bejezuz Member

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    Try owning your own business. Your employer pays half of your FICA for you. When you're self-employed, you pay it all.

    The truth is, it was never your money to begin with. Your wage was negotiated on the assumption that your income was taxable. Just like how businesses pass sales tax on to you to make it appear that you are paying less for your goods, your employer passes the taxes on to you to make it appear that you are making more than you really are.
     
  7. geeimsobored

    geeimsobored Member

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    It is striking that we complain so much about how crippling taxes are when wages have been stagnant for 40 years. But instead of complaining about how employers are screwing us by failing to pay fair wages, we'll happily complain about the government at a time when tax rates are at historic lows.
     
  8. larsv8

    larsv8 Member

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    Irritating, but necessary.
     
  9. Bleeding Red

    Bleeding Red Member

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    Not really. Single male so I can't add any exemption.
     
  10. bobrek

    bobrek Politics belong in the D & D

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    You can. You just need to be accurate on your actual tax return and you don't want to add a number that is ridiculous. Oftentimes, folks add an exemption if they have a house payment.
     
  11. codell

    codell Member

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    20-25% for Taxes and FICA isn't outrageous. If you are in a 15% tax bracket (up to 36K/yr single and up to 73K/yr for married) plus 7.65% for FICA that is 22.65%.
     
  12. Harrisment

    Harrisment Member

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    They use a formula based on your race and sexual orientation
     
  13. thegary

    thegary Member

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    i pay TAXES
     

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