...rather its calculated at the gross income then income taxes are based on the remainder. So it is still fed + oasdi.
State captial gains taxes are supplementals against corporations. I am not a corporation and neither an LLC. But you are correct, 41 of the 50 states do have some captial games taxes: good call. So for some, we can add that to the laundry list. Thanks Cristoballs for your comment!
@cristoballs. The times I have had to pay for capital gains taxes, none of the fees went to california, all was separate income and given to the federal government. Social Security although not titled as a tax, still is a program in which the government takes money in, makes interest money in a pool, and given out at a rate set standard much outdated. Ideally, it should be up to the you whether you want to invest in a retirement. But they are not subtracted from gross income in terms of tax...
i like this video series. it gives a good indication of all the taxes we as americans pay. my only complaint would be that i think some of the taxes you listed are deductible from federal income taxes, such as oasdi and state income taxes. fed income taxes are figured after such deductions are subtracted from gross income. also, i think you only listed fed capital gains taxes, but aren't they also applied at the state level in california and other states?
@MrXyborg: Thank you for your comment! I am sure Europe has some tax rules that have in comparison worse results than in the US. I however did not intend to gleem our system comparing with yours. I do not know it, maybe I can study it. I just wanted to find out what a Commoner like myself and many others how much of total income was lost to a tax. Many Americans do not know all the taxes in play therefore make ill decisions has to the acceptance of more taxes.
Hello from Europe, Sweden to be exact. Just to let you know, you get of easy. The US has lower taxes than ANY other country in the western world. Sales tax here is 25%, (accept for food then it's 12%). The lowest income tax bracket (state and federal combined) starts at 30%and goes all the way up to just under 50%. When you buy gas about 60% of the money you pay at the pump consist of various taxes.
@MrXyborg In Sweden doesn't government provide housing and healthcare thereby getting more for your taxes? The USA doesn't have single payer national care and doesn't provide housing to most.
...rather its calculated at the gross income then income taxes are based on the remainder. So it is still fed + oasdi.
State captial gains taxes are supplementals against corporations. I am not a corporation and neither an LLC. But you are correct, 41 of the 50 states do have some captial games taxes: good call. So for some, we can add that to the laundry list. Thanks Cristoballs for your comment!
sdflipper743 3 months ago
@cristoballs. The times I have had to pay for capital gains taxes, none of the fees went to california, all was separate income and given to the federal government. Social Security although not titled as a tax, still is a program in which the government takes money in, makes interest money in a pool, and given out at a rate set standard much outdated. Ideally, it should be up to the you whether you want to invest in a retirement. But they are not subtracted from gross income in terms of tax...
sdflipper743 3 months ago
i like this video series. it gives a good indication of all the taxes we as americans pay. my only complaint would be that i think some of the taxes you listed are deductible from federal income taxes, such as oasdi and state income taxes. fed income taxes are figured after such deductions are subtracted from gross income. also, i think you only listed fed capital gains taxes, but aren't they also applied at the state level in california and other states?
cristoballs 3 months ago
@MrXyborg: Thank you for your comment! I am sure Europe has some tax rules that have in comparison worse results than in the US. I however did not intend to gleem our system comparing with yours. I do not know it, maybe I can study it. I just wanted to find out what a Commoner like myself and many others how much of total income was lost to a tax. Many Americans do not know all the taxes in play therefore make ill decisions has to the acceptance of more taxes.
sdflipper743 4 months ago
Hello from Europe, Sweden to be exact. Just to let you know, you get of easy. The US has lower taxes than ANY other country in the western world. Sales tax here is 25%, (accept for food then it's 12%). The lowest income tax bracket (state and federal combined) starts at 30%and goes all the way up to just under 50%. When you buy gas about 60% of the money you pay at the pump consist of various taxes.
MrXyborg 4 months ago
@MrXyborg In Sweden doesn't government provide housing and healthcare thereby getting more for your taxes? The USA doesn't have single payer national care and doesn't provide housing to most.
jimbobubbadj 1 week ago
@MrXyborg The USA is not as great of country as you think it is.
jimbobubbadj 1 week ago
Venus Project and Atlas City we need to get rid of the monetary system
skeight976 1 year ago