how much tax % comes out of your paycheck? - Social Anxiety Forum
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Old 10-31-2008, 10:56 AM   #1 (permalink)
 
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Default how much tax % comes out of your paycheck?

decided to see how much comes out of mine and its around 20% (federal, ssn, medicare).
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Old 10-31-2008, 11:14 AM   #2 (permalink)
 
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If I'm doing this right.. 15%
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Old 10-31-2008, 11:17 AM   #3 (permalink)
 
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23%. I am making 1421.38 gross and 1093.49 net now. I just got a 2% cola. I have to wait another year to be moved to the next wage step. We have to wait 5 years before being moved up, but we have been getting a one time pay out every spring of unspent state dollars. I received a little over $3000 lump sum last spring.
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Old 10-31-2008, 02:45 PM   #4 (permalink)
 
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28%. The government thinks I make too much money, so they tax me more. I fight back by making more money. It's a vicious circle

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Old 10-31-2008, 04:00 PM   #5 (permalink)
 
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Out of my gross earnings on my last paystub, 24% goes to taxes, 21% goes mostly to deductions for 401k and stock, and the rest goes in the bank.
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Old 11-01-2008, 10:44 AM   #6 (permalink)
 
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About 25%. It gives me great satisfaction to be sodomized by the government for four months out of the year.
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Old 11-01-2008, 01:22 PM   #7 (permalink)
 
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Quote:
Originally Posted by Lonelyguy View Post
About 25%. It gives me great satisfaction to be sodomized by the government for four months out of the year.
Don't you enjoy your public schools, roads, and police?
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Old 11-01-2008, 01:51 PM   #8 (permalink)
 
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Quote:
Originally Posted by Qolselanu View Post
Don't you enjoy your public schools, roads, and police?
I never said I don't think I should pay any taxes. I just feel the amount I'm taxed is a little excessive for the amount I make...which is nobody's damn business.
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Old 11-01-2008, 02:29 PM   #9 (permalink)
 
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It's been a while since I've calculated it, but I think it's: I'm single with no dependents, so they don't offer me too many deductions. Actually, ever since they went to the on-line paystub system, it's been 18 months since I even looked at a paycheck. All I know is that I go to work and every two weeks some money gets deposited in my bank account. I don't even know how much money I make a year anymore (which is kind of sad), but I have enough left over each month that it doesn't matter much.


15% federal (I should be in the 25% based on income, but at the end of the year I would get too much back if I withheld that much.)
6.7% social security
1.6% medicare
3.6% ohio income tax
1.5% city school tax
0.5% state school tax

6.0% of my income goes to property tax
0.75% sales tax - 6.5% sales tax on non-food, non-internet things I buy (~$5000/year, $325 in taxes)
0.5% gasoline tax - .464 per gallon tax on gas I buy (between 600~400 gallons/year)
---------------------------------
~34% of my income goes to taxes right now. I probably pay less due to subtracting state income taxes, investment losses, mortgage interest, and other things.

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(On a side note, I think this issue is why the Clintons aren't liked by the rich, even though he did manage to reign in the budget and not defer paying for tings like our current President. http://www.moneychimp.com/features/tax_brackets.htm Look at the tax rate increase in 1993 for the top bracket. The current administration is using the national debt as a credit card wit no intention of paying it back. I would owe $2333 just for the bank bailout to buy up homes that speculators and flippers walked out on for instance, after pumping up the price of homes and stashing lots of money away)
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Old 11-02-2008, 07:26 PM   #10 (permalink)
 
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Don't forget to add the 7.6% of FICA that you really pay pretax plus the worker's comp and Unemployment "insurances." That is if you want to find out what you actually are paid by your employer before some off the top goes to the state/Feds.

I pay 15.3% SE Tax. There is a credit offset for the employer portion, but I'm not sure what the effective savings would be.

I am only in the 10% federal bracket because honestly the Income tax brackets are pretty low for someone with SA which prevents generating too much income.

The last time I was employed by another company, 4-5 years ago, my withholding was around 25%- so I would say 30% of my gross earnings were withheld.
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Old 11-02-2008, 07:52 PM   #11 (permalink)
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I pay 28% in total income taxes, about 15% is fed. Another 5% is state and then medicare etc. Then you add in sales tax and all the taxes on gas, cigarettes, local excise tax etc and I'm sure its at least 35-38% of my total income. Thats way too much in my opinion, I could use some of that extra cash right now.
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