Message:

<p>[QUOTE=&quot;mikem2000, post: 2067007, member: 30574&quot;]But all I am really saying is the tax picture is not nearly as bleak as you painted it. I think we can safely assume you are not paying close to 15% FICA.&nbsp; Also, you failed to mention Investment income. That is only taxed at 20 % with nothing at all going to FICA.&nbsp; </p><p><br /></p><p>You are probably paying less than 11% state also, even if you are in the highest bracket. Plus you calculated that 100% of you remaining income was being taxed with sales tax. That is not even close to being true as most people&#039;s biggest expense, their mortgage, has no sales tax. In most states food and clothing don&#039;t get taxed either.</p><p><br /></p><p>So when all is said and done taxes may be high, and you may not like them, but not nearly as bad as you suggested at 70%.&nbsp; Just trying to keep you honest Chris <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in