Replies to post #94668 on Your Economy (No Politics) (YE1)

[ChrisJP]

So let's see .... my Fed, State. and local income taxes come to just over 33%. But wait .....

I pay a property tax that's 5% of my income. That's 38%. But wait ...

my sales tax is 6%. So that's 44%. But wait ....

My social security is like 6% of my income and matched by my employer. After 45 years, 12% = contributions of 540% of my salary, yet I'm hoping to get 1/4 of my salary for 16 years which is only 400% of my salary. So that basically amounts it having been about a 3% tax on my salary every year. So that's 47%.

Then there are taxes on gasoline, alcohol, and airline tickets, highway tolls, and so on. Maybe 1% of my income so that's 48%.

Add in my health care insurance so we can apples to apples compare with Scandanavia - 15% of my income - and you get 63%.

I'm not saying we're the most taxed nation on the planet, but clearly Paul Krugman is wrong too.