Class Project any computer programmers out there?

[dwayner79]

25% for taxes seems like it is way to much. What do you think the average would be. With 25% it would be like giving up 1 out of every 4 checks. That can't be can it

Sorry, but I laughed out loud at this one...

At $12.50/hour, you are int eh 15% tax bracket for Federal income tax alone. Tack another 6% on for state, 7.5% for Social Security, and you pass 25%. Given you get a few deductions and such, most single adults at entry level pay pay out about 25%.

Right now I pay about 31% in taxes (thats before property taxes, sales tax, etc.). So 25% is just about right for the position you would be in.

[dwayner79]

At one point, I would say vote republican to try to shrink that number... now I am not so sure.


BTW, why can't I edit my post in this forum

[Samer]

So yeah, about that notion that Republicans are good for the economy:

http://www.cedarcomm.com/~stevelm1/usdebt.htm
http://zfacts.com/p/318.html

I hope someone like Peroutka runs again.

[dwayner79]

The second is the more important figure. Debt has to be referenced as a factor of GDP...

What those charts also fail to show is real economic growth. I.e. put debt into 2000 dollars and the chart will probably be a bit different. Debt (as a country) is not generally a bad thing. It can be used to stimulate growth and that is almost always a good thing.

Part of it is the "war" and part is Katrina, but we are paying money to things that don't show a real economic impact. That gets scary.

[Samer]

I ended an internship a month ago, and received a bonus. Uncle Sam got 3/7 of the money, and I got 4/7.
You can't give anybody money without the government claiming a large chunk of it. I don't see how most of the stuff they do is even constitutional, but whatever. Render unto Caesar and resist not evil, I guess. (Kent Hovind took the other approach.)

By the way, my usual tax cut was about 30% in federal and state taxes. As Jim mentioned, they tax the other 70% in other ways...property tax, sales tax, inheritance taxes, dividend taxes, license taxes, excise taxes, hotel taxes, airplane taxes, tax-collection taxes (j/k...I hope), and all sorts of other fun stuff. I don't count road tolls and gasoline tax, because those actually make sense--those who use roads built with government money will pay the most for that use. Some taxes are justified, but wow...It just gets insane sometimes. In reality, everybody in America is borrowing everything they "own" from the US government. Comforting thought. :mrgreen: It's good to be a Christian...Otherwise, I might be kinda depressed with the world's system!

Oh, and...Welcome to America. :lol:

[nodnarb]

I thought that this project would help me prepare for the real world but it is just scaring about the real world. This is crazy. Boy I was starting to get excited about getting close to graduating and starting college. That would bring me so much closer to going into my ministy. But this is eye opening.

[kevinmiller]

You just find lots of stuff to claim on your tax returns and try and get back as much as you can. :frog

[John81]

Welcome to the wonderful world of adulthood!!!


Congress' Joint Economic Committee disclosed that the richer half of
the American population pays nearly 97 percent of income taxes. Most of
that, 54 percent, is paid by those in the top 5 percent, Investor's
Business Daily (IBD) disclosed.

And the richest of the rich

[nodnarb]

I am amazazed at all this stuff.

[Psalms18_28]

I like the Liberation (sp?)party tax idea. They believe in getting rid of all taxes, and use sale taxes instead. The more you spend, the more you are paying for taxes. If you can't afford to go shopping, then you can't afford taxes either. So basically you will be tax free and you will not be forced to pay taxes.

[nodnarb]

yeah but wouldn't that keep you from buying the things that you really need? :?

[Psalms18_28]

that's the point. you will end up paying taxes anyway

but people learn how to save money by being frugal

[nodnarb]

So I guess we would not be eating very well either. :D

[Psalms18_28]

the poor are already not eating well. Most can only afford canned processed food and junk food.

the only good thing is that there will be less stress, and you won't get in trouble for not doing your taxes.

[John81]

Some States don't tax food items. As well, some of the proposals for a national sales tax (most, I think) also wouldn't tax food items.