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Politics : PRESIDENT GEORGE W. BUSH
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To: tonto who wrote (673741)3/1/2005 2:48:23 PM
From: Wayners  Read Replies (1) of 769670
 
After you combine the 7.65% for FICA, the employer match of 7.65% (which should be yours) and income tax you come up with a pretty hefty income tax percentage of around 50% of your yearly income. Now add in Gas tax of about 66 cents a gallon, state taxes, local taxes, property taxes, capital gains taxes (if you’re lucky) and all the other combined taxes placed on your monthly utilities, I would venture to guess that around 75%-80% of our income is consumed in tax.
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