Tax bracket is a lie. Truth is we pay more taxes in USA than in France, for no service whatsoever. In USA, we pay Fed taxes, FICA taxes and state taxes. Total, that’s 48.5% of my GI. Yes 50%! What do I get? I get no service. I have to pay healthcare, 401k, and tuition. In France the max for same wages is 45% total, but I get free healthcare, free education for me and my kids, and retirement plan is included. How come people accept this? Where goes the money? Where are the services?
Infrastructure, transport, emergency services and healthcare, government, military, veterans, unemployment, housing, international aid, energy and environmental projects, scientific projects, paying off the national debt?
Healthcare??? Lol. Unemployment is paid by the employer not the taxes, and is $450/w max for 6 mo. In France you get your full salary for a year, it is paid by the taxes.
How much healthier are folks in France? We do have some social healthcare in the form of Medicare/Medicaid and it is costly, because people really love their American cheeseburgers.
Oh and property taxes are higher in USA too.
Defense spending is about 15% of our total federal budget. It's much less when you include state and local government budgets, which the op is doing. Please stop posting until you have learned basic arithmetic.
??? Social Security and Medicare takes up a good bulk of our taxes. Then the military. You really work at LinkedIn?
We also operate on a different scale with a larger land mass and population. You can't say it's as easy to manage a larger population as it is a smaller one just because you have more resources. It allows for less oversight, increased chances of having money bleed from more sources, etc.
That’s what state taxes are for.
The comparison is invalid. If you pay nearly 50% tax in the US, it means you earn more than half million a year, and choose to live in CA. Most European countries will hit you with such tax rate at much lower salary. Generally speaking, America taxes the rich and Europe taxes everyone. Also, your money buys more in the US. get out of California and you can buy a house with your annual salary, after paying half in tax. you also pay less for cars, even those made in Europe, and you have the cheapest food in the world. Finally, Europe is literally a dying nation. It has negative population growth, people are not making babies and the population is getting older without a generation to replace them. this means they can forget about pensions and health care for the elderly. when most of the population is old and retired, there's no tax rate that can extract enough from the working minority.
Wrong!! I make $200k and I pay 48.5% as FT employee. Do the maths: State taxes: 9.3% FICA taxes: 6.2% + 1.45% of box 5 Fed taxes: 33% You guys are funny. You pay taxes you did not know you pay? Look at your W2.
Apple guy, you are talking about marginal rates, lyft guy is talking effective rates. I know math is hard but try a little.
All your money are belong to me!
Tax bracket should reflect the true total percentage including fica and state taxes. Salary offers should be said in net. Stop thinking you make $200k when you actually make $100k after taxes. They remove taxes on product prices, but include them in your wages?? Know what you get, know what you pay. People live in a lie. This is fake wealth!
Please carefully take a look at your tax report and understand what "effective tax rate" is.. If you want to be a software engineer in France, go find a job in France and stop complaining. I am not sure if you will not complain about France though (especially with adjusted salary)
Fuck off with your racist statement. I’m not gonna go to France, because I make a comparison that spots on issues with taxes in USA. Don’t you want a debate? I could compare with Sweden. We can talk here right? What you’re ok with taxes? You want my taxes to pay for your wall, fuck that!
Because rich people are in control and rich people don't pay taxes like you. We pay deferred cap gains and pay 10 to 20% tops. Thanks for your contribution though, keep up the good work.
Tax brackets don't show what you actually pay in taxes. Your effective tax rate is actually what you really pay and I'm guessing it's way lower than 48.5%. If i had to guess you're probably paying closer to 30%. (If not lower)
No you’re still on the tax bracket lie! Do the maths: Fed + state + fica: 50% of taxes
It's not a lie, it's how taxes are calculated. You don't pay 33% of your whole income in Federal income tax. You have no business writing a rant like this if you don't know how deductions and brackets work. You can see the numbers for yourself on your 1040 (or an estimate on your W-2). Divide the amount of tax you paid by your gross income. I bet it's not 50%.
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Because military and gov waste.
France is military more present in the world than USA, these days.
I don't know if that's actually true, but even if it is, that doesn't change the fact that we spend a massive amount on military.