Tax Time

Published by

Clarissa

February 8, 2014

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.

Rate this:

9 responses to “Tax Time”

J. Otto Pohl

February 8, 2014

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.

LikeLike

Reply
David Bellamy

February 8, 2014

My total tax “burden” is around 25%, which seems fair to me. I would not mind if it were a little higher, since a lot of necessary programs are being short-changed.

LikeLike

Reply
Anonymous

February 8, 2014

Probably more than that because you are paying sales tax.

LikeLike

Reply
1. Clarissa
  
  February 8, 2014
  
  After the 15% sales tax in Quebec, I’m not even noticing it anywhere else.
  
  LikeLike
  
  Reply
2. David Bellamy
  
  February 9, 2014
  
  I live in a civilized state without a sales tax.
  
  LikeLike
  
  Reply
  1. Clarissa
    
    February 9, 2014
    
    “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.
    
    LikeLike
    
    Reply
Sister

February 8, 2014

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

LikeLike

Reply
olivier_reid@hotmail.com

February 9, 2014

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

LikeLike

Reply
1. Clarissa
  
  February 9, 2014
  
  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?
  
  LikeLike
  
  Reply