Tax Time

~ Clarissa

So it’s that time of the year again and we just spent two hours with our accountant. Altogether, we are paying 19,9% of our total income in taxes. I’m not talking about tax brackets, exemptions, state or federal. Just actual amounts.

To me, anything that is over 15% in taxes is unfair. Over 30% would constitute a gross injustice in my eyes. So we are a little bit into the unfair territory but not a whole lot. I can live with a little under 20% in taxes. Anything over it would start making me antsy.

So the news is neither good or bad in our case.

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Published by Clarissa

9 thoughts on “Tax Time”

  1. I pay 20% income tax deducted directly by the Ghanaian government from my pay check every month without ever seeing it. On top of that we have a 15% VAT on everything. My gross income before taxes is only about $20 k a year. The upside is that I don’t have to pay rent, utilities, medical, or dental. But, I make an awful lot less and pay a much higher percentage in taxes than most US university professors.

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      1. “I live in a civilized state without a sales tax.”

        – Hear, hear. I absolutely agree that sales tax is uncivilized and just wrong. And punishing to people who buy local.

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  4. I’m paying more than 50% in taxes.. 😦 Add the 15% sales tax in top of that and the end result is underwhelming.

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  5. Why is it unfair to pay more than 15% exactly? I think that you answered that somewhere but I do not remember your explanation.

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    1. I’m not an economist, so obviously I’m not offering any profound data-based analysis here. This is just what feels right to me. I’m not refusing to pay more, as you can see 🙂 but it’s still OK to have an opinion about that, isn’t it?

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