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What % of income tax(Fed & state) do you pay/owe?

  • nil% aka didn't earn any income to give to Uncle Sam.

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  • 1% to 5% You get A thataboy or thatagirl

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  • 6% to 10% 2 stars

    Votes: 0 0.0%
  • 11% to 15% 1 stars

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  • 16% to 20% NO STARS

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  • 21% to 25% I been here before,not fun,and trust me they don't use grease here

    Votes: 0 0.0%
  • 26% and above you are either very rich or very ....

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Discussion Starter · #1 ·
You have your gross income, then the fed/state take a little peice of your pie(money).So when you look at the total amount of income taxes you paid for the year('05) what percentage of your gross income did you end up paying for 2005?
Im suree you'll just dying to know!
All countries welcome even Califorina

To get % take amount owe(5,500) and divide by total income(78,000)
5,500/78,000=0.07051 or 7.06 %.. I think
should be a easier way.
 

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I not rich but I paid 100%. My finances are dwindling :(. I did only the federal return cuz I was self employed. Not sure if I had to do state tax.
 

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just because you got a refund doesnt necessarily mean you didnt pay.

i dont understand why people get so excited about a refund. it's your money anyway. im getting back $800 that they stole from my pay check. but they are still keeping their fair share of my hard earned money.
 

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Poorly Educated
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About 7%. I don't have my W-2 handy so I'm just going by memory. I claim myself as a dependent on my taxes so they don't take as much out of my checks. I don't understand how people get such big tax refunds, my federal refund has always been less than $100. I played with some numbers once and discovered that it takes four months of take home pay (after taxes have been removed) to equal the amount of taxes taken from my checks every year. I'm busting *** for the government for four months every year. :fall I don't think its right that anyone should have to pay that much in.
 

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Après moi, le déluge
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I paid 3.5% of my earnings in taxes last year if I combine the state and the federal. City taxes are a little more complicated. The city of Cincinnati takes out more than the state does and I don't even live there and I don't get any back!

Have a nice day,
Kelly :)
 

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My tax bracket is 7% for the Federal. In Michigan we have a flat tax rate of 3.95%. I usually get a refund a little over $200 Federal and a little over $100 for the state. I got more when I had a mortgage, and put money into a traditional IRA.
 

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SA's Slave
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Didn't own any income. :shock :hide
But I didn't do my taxes last year and they owe me money! I want my money! 8) :boogie
 

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Poorly Educated
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I just looked mine up tonight now that I have the figures in front of me. It comes to slightly over 6% so I wasn't too far off. Still too high in my opinion...
 

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All I know is we payed a BUTTLOAD thanks to the tax on my Roth conversion. And of course all those taxes triggered the lovely underpayment penalty. Go figure!
 

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one dumb user name said:
just because you got a refund doesnt necessarily mean you didnt pay.

i dont understand why people get so excited about a refund. it's your money anyway. im getting back $800 that they stole from my pay check. but they are still keeping their fair share of my hard earned money.
Yes, as far as giving the government the right to hold--and invest-- our money and paying social security taxes.

Nevertheless, I get pretty excited when I set exemptions so that nothing is withheld from pay throughout the year and I get a big refund through the earned income credit (some of it advanced to me throughout the year) and the improved (thanks Bush!) child tax credit.
 
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