What's the % of deductions on your pay?

binarysoul

Mine is about 30%

If I may, let me curse the soul of the one who invented TAX

cgyballer

about 18 % off, i usually retain 82% of my pay, which im pretty happy about, i only have to pay federal tax, cpp and EI, no union stuff, no pension, no unessessary dedections

Plantwiz

binarysoul wrote:

Mine is about 30%

If I may, let me curse the soul of the one who invented TAX

Do you not reap any benefits from the taxes you pay? SUrely you may not see 100% return on investment, but you do have roads/highways and such that are not toll roads you travel, right? How about schools? Medical? Emergency?

I don't like paying either, but if I had to pay $.50 for each road I traveled to get through my day........hmmmm well....the road better darn well be paved and pothole free .


Geared toward the US, but interesting:
http://www.taxhistory.org/



Nevertheless, I would like to know where every penny goes because we do have programs that should probably be retired from the funding but they've been around so long.....no one questions them.

30% is a pretty typcial number here too.



This is pretty interesting!
http://www.taxhistory.org/thp/readings.nsf/ArtWeb/2CD782CE8B5C56FE8525734D003B03B2?OpenDocument

Anyone remember this happening?

binarysoul

Plantwiz wrote:

binarysoul wrote:

Mine is about 30%

If I may, let me curse the soul of the one who invented TAX

Do you not reap any benefits from the taxes you pay? SUrely you may not see 100% return on investment, but you do have roads/highways and such that are not toll roads you travel, right? How about schools? Medical? Emergency?

Umm, although parking ticket fees, customs dues, property taxes collected by government should take care of roads, hosptials, schools and many more, I'm willing to chip in a few more bucks to make the services better.

But when the money is stolen by some corrupt beaurucrats and paper pusher, it should and has angered the taxpayers no matter which country you live in. So here is a glimps of how some senior public servants had been stealing our tax dollar:


http://www.cbc.ca/news/background/groupaction/

http://www.cbc.ca/news/background/cdngovernment/scandals.html

So how is our return on investment?

iowatech

So how is our return on investment?

You purchased one nights worth of good news entertainment!

garv221

binarysoul wrote:

Mine is about 30%

If I may, let me curse the soul of the one who invented TAX

You also have to consider what state you live in, for example if your taxed 30% you may have lower taxes outside of income taxes where you save, for example sales tax on items or other misc stuff.

http://articles.moneycentral.msn.com/Taxes/Advice/TheBestAndWorstStatesForTaxes.aspx?page=2

I am a home owner. I have my taxes setup where the goverment takes nothing extra, only what I owe exactly, like 20%. Each year at the start of my tax process I owe at least $900.00 but once mortgage interest kicks in and misc deductions, it not only covers my owed amount but the goverment sends me a nice check. There is no point to having the goverment hold onto your money interest free. I would rather owe them money than them owe me money.