The FairTax Act, introduced by Rep. Buddy Carter (R-Ga.), would repeal all federal taxes, including income tax, and replace it with a national sales tax.
The devil is in the details but I love consumption taxes. In my opinion they are far superior to income taxes
The highest tax bracket is 36%. Are you saying another 14% of your income is gobbled up through state tax, sales tax, property tax, etc.? I guess that’s entirely possible. If you throw health insurance premiums into the mix then it’s well above 50%. I just did my taxes a few weeks ago and my total health insurance premiums for the year, not counting co-pays, deductibles, prescriptions, etc. Was $29.6k. That’s fucking insane. We need to fix that shit. People are opposed to a single payer healthcare system saying it’ll raise their taxes, but we’re already paying out the wazzoo for it. It would probably be cheaper.
It is insane! That doesn’t even seem right. Idk htf I ended up paying that much. But I pulled that number right off my W2, box 12, code DD. Hmm… I actually need to look into this more because that doesn’t sound right at all.
The highest tax bracket is 36%. Are you saying another 14% of your income is gobbled up through state tax, sales tax, property tax, etc.? I guess that’s entirely possible. If you throw health insurance premiums into the mix then it’s well above 50%. I just did my taxes a few weeks ago and my total health insurance premiums for the year, not counting co-pays, deductibles, prescriptions, etc. Was $29.6k. That’s fucking insane. We need to fix that shit. People are opposed to a single payer healthcare system saying it’ll raise their taxes, but we’re already paying out the wazzoo for it. It would probably be cheaper.
You also pay state tax, social security, medicare, etc.
I didn’t include sales tax, we do not have it or property tax.
THat is insane, mine is 100 a month with no dependents. 1,200 a year
It is insane! That doesn’t even seem right. Idk htf I ended up paying that much. But I pulled that number right off my W2, box 12, code DD. Hmm… I actually need to look into this more because that doesn’t sound right at all.
Some employers charge more and some less. I work in technology and we tend to get really good insurance plans.