Too many Taxes?

[TylerDMD]

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I think we pay too much in taxes. I calculate as a self-employed dentist, you get to keep about 37% of your money after you've paid all the little people with there hands out. I mean seriously, you help thousands of people out and give 10 people in your office jobs, and you only get to keep .37 of every dollar you make, it's just not right. Sure, you'll still better off than 99% of the other people in the world but you really shouldering a huge burden. Despite George Bush, this is why I still vote Republican.

Here's my math:


350,000 Amount you made net, before taxes
122,500 federal taxes you pay
43,750 self employment taxes you pay
3,150 more self employment taxes
10,000 property tax on your nice home
21,000 state income tax
10,000 misc. taxes, fees, etc.
210,400 total amount you pay in taxes

139,600 what's left to actually spend on stuff you want and need
11,168 sales tax (assuming you save nothing)
128,432 Total amount of "financial pleasure" you get out your work

36.69% Percent of how much you really get to keep

 

[TucsonDDS]

How in the hell am I going to afford this then
http://www.astonmartin.com/thecars/v8vantage

I finally find a sports car that says it will hold my clubs and now someone is telling me I can't afford it 😡

I think we pay too much in taxes. I calculate as a self-employed dentist, you get to keep about 37% of your money after you've paid all the little people with there hands out. I mean seriously, you help thousands of people out and give 10 people in your office jobs, and you only get to keep .37 of every dollar you make, it's just not right. Sure, you'll still better off than 99% of the other people in the world but you really shouldering a huge burden. Despite George Bush, this is why I still vote Republican.

Here's my math:


350,000 Amount you made net, before taxes
122,500 federal taxes you pay
43,750 self employment taxes you pay
3,150 more self employment taxes
10,000 property tax on your nice home
21,000 state income tax
10,000 misc. taxes, fees, etc.
210,400 total amount you pay in taxes

139,600 what's left to actually spend on stuff you want and need
11,168 sales tax (assuming you save nothing)
128,432 Total amount of "financial pleasure" you get out your work

36.69% Percent of how much you really get to keep

 

[aphistis]

I think we pay too much in taxes. I calculate as a self-employed dentist, you get to keep about 37% of your money after you've paid all the little people with there hands out. I mean seriously, you help thousands of people out and give 10 people in your office jobs, and you only get to keep .37 of every dollar you make, it's just not right. Sure, you'll still better off than 99% of the other people in the world but you really shouldering a huge burden. Despite George Bush, this is why I still vote Republican.

Here's my math:


350,000 Amount you made net, before taxes
122,500 federal taxes you pay
43,750 self employment taxes you pay
3,150 more self employment taxes
10,000 property tax on your nice home
21,000 state income tax
10,000 misc. taxes, fees, etc.
210,400 total amount you pay in taxes

139,600 what's left to actually spend on stuff you want and need
11,168 sales tax (assuming you save nothing)
128,432 Total amount of "financial pleasure" you get out your work

36.69% Percent of how much you really get to keep

I'm neither agreeing nor disagreeing with you on the tax debate, but $130,000 a year of after-taxes/mortgage play money is nothing to sneeze at.

 

[aphistis]

I think we pay too much in taxes. I calculate as a self-employed dentist, you get to keep about 37% of your money after you've paid all the little people with there hands out. I mean seriously, you help thousands of people out and give 10 people in your office jobs, and you only get to keep .37 of every dollar you make, it's just not right. Sure, you'll still better off than 99% of the other people in the world but you really shouldering a huge burden. Despite George Bush, this is why I still vote Republican.

Here's my math:


350,000 Amount you made net, before taxes
122,500 federal taxes you pay
43,750 self employment taxes you pay
3,150 more self employment taxes
10,000 property tax on your nice home
21,000 state income tax
10,000 misc. taxes, fees, etc.
210,400 total amount you pay in taxes

139,600 what's left to actually spend on stuff you want and need
11,168 sales tax (assuming you save nothing)
128,432 Total amount of "financial pleasure" you get out your work

36.69% Percent of how much you really get to keep

I'm neither agreeing nor disagreeing with you on the tax debate, but $130,000 a year of after-taxes/mortgage play money is nothing to sneeze at.

 

[Obelix]

10,000 property tax on your nice home

If you plan on paying $10k for a house, doesn't that mean you plan on having a $1M house? I can't believe you are complaining about that...

 

[bpenly]

If you plan on paying $10k for a house, doesn't that mean you plan on having a $1M house? I can't believe you are complaining about that...

My dad's house is valued at $400K and has property tax in the neighborhood of $12K. That is in Madison, WI. Take a look at an expensive place to live and you'll really get it.

 

[mdub]

My dad's house is valued at $400K and has property tax in the neighborhood of $12K. That is in Madison, WI. Take a look at an expensive place to live and you'll really get it.

Property taxes vary widely from location to location. Places with good public schools tend to have higher property taxes. Places with no income tax (e.g. Texas) tend to have higher property taxes. Places with no sales tax (e.g. Montana) tend to have higher property taxes.

 

[Obelix]

Oh wow, I didn't realize it varied so much. Here in CA, it's about 1%.

 

[Demeter]

We had an interesting AEGD practise managment lecture a few weeks ago. One question asked was: WHat is the biggest expense of a Dental Clinic?

Rent? Materials? Staff? - Nope.

The answer: Taxes!!!
Everyone has to pay their fair share, but many people do not realize how to take advantage of their Tax refunds etc...