Watching the MSNBC show Mornin’ Joe Monday I saw that crazy and always wrong economic pundit Jim Cramer say that he worked through September just to pay taxes. Florida Pan Handle x-congressman Joe Scarborough responded that since moving to New York he pays 2/3 of his income in taxes. He went on to say it is the same in Connecticut, Rhode Island and so on. A few of the other regulars and guests nodded their agreement. You know what this means of course. It is STATES who are going bonkers on taxes not the federal government! States Rights to Tax yer ass to death is what they stand for hey?
We just finished doing our taxes. Adding it all up, including property, sales, state, federal, fines, tolls, licensing, and SS we payed 29% in taxes on about $100k. It has been about the same as far back as we can remember. Texas has no state tax, the average is 5%, so I will add that, 34% for all taxes.
So I must assume that New York, Connecticut, Rhode Island and so on have state income taxes of over 30% to arrive at more than 2/3 of their income going to taxes. Right?
How do these Republicans come up this crap when we are the least taxes nation in the civilized world? It would seem from Republican math the rest of the civilized world has no income at all.
I think this is how they manage this very big lie of theirs. They add up the rates without deductions. But let me know if you have a better answer.
Federal taxes for Republicans $250k = 37%
Sales tax = 8%
State income tax = 10% (avg is 5%)
Property tax 2%
Social Security – Self Employed 13% (though not a tax they can call it a payroll tax)
And there it is! 70%! Work through September for THE MAN.