Should I be paying this much in taxes?!?

[focusedlife]

Libertarians are onto the right track but not quite - they don't have much of a political philosophy. Read "Capitalism: The Unknown Ideal".

Have you read the description?

BTW, what do you mean they don't have a political philosophy?

The gist is you get to decide what you do with your life without much government interference, intervention nor meddling.

Why do we need big government to decide what's right for you?

It assumes you're smart enough to make decisions for yourself without NEEDING to be taxed to oblivion nor fear being bullied by your government.

Just sayin'

 

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[focusedlife]

I overly enjoyed law abiding citizen until the end; guess who I was rooting for?

I didn't understand your reference. Mind clarifying?

 

[AF77]

I didn't understand your reference. Mind clarifying?

It was a joke.

Movie about a brilliant engineer/brain/assassin who takes down the government that let him down.

 

[GlobalWealth]

In the US, if you're just a W-2 employee, then there isn't much tax planning. Not worth the cost of a CPA unless you're $300k plus (then you get into conservation easements and other fun things).

Own a business. Otherwise, you're SOL.

I second this.

As long as you remain an employee you don't have much or any control.

That's the "beauty" of payroll withholding from the government perspective.

They've got you by the short and curlies.

Once you have a business, even a side gig, your options for tax minimization open up a lot.

BTW, you didn't say... Where do you live? Country, state?

Sent from my VTR-L29 using Tapatalk

 

[GoGetter24]

When someone complains about a 18% tax burden... when you know people paying about 50%.

And then you remember you pay way more than 18% too...

 

[BlueMoon]

With all respect but this seems quite low. Here you pay 51% of every 'dollar' you make.

 

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[Thimar Laouichi]

I don’t believe everyone gets raped, and I don’t see worrying about or trying to prevent the theft of a fifth of your income as “complaining”.

Absolutely, it's just my point of view ")

 

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[Mark Mueller]

Your benefits look really low. If you're a w-2, hit that 401k hard. Avoid the income and lower your tax rate. And have a side business. Depreciation is your friend. If you don't have a side business, go buy a house and rent it out. Now you have one.

 

[tapikaipsihremos]

I make 134,000 a year on paper.

My take home every other week is 4,124.00
My actual income before taxes is 5,108.00

I get over 900 dollars taken out every two weeks! That’s a F*cking fifth of my income.

AND, I always OWE money to the irs at the end of the year.

I have two small children and I am married.

Edit: I was a bit off, Exact numbers:

If you are in America watch this documentary
America : Freedom to Fascism

View: https://www.youtube.com/watch?v=O6ayb02bwp0


It is against the american constitution to be taxed on your labour.The goverment can only tax business transactions. Don't quote me on that last part. Watch the full documentary. You won't regret it.