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Posted: 3/17/2006 7:44:02 AM EDT
That's how much the government took out of my bonus check this year. Can you believe that? I need some tax deductions that don't call me daddy. So how much of your check did the IRS help themselves to? MJD
Link Posted: 3/17/2006 7:45:23 AM EDT
I average about 58% net, after everyone gets a piece
Link Posted: 3/17/2006 7:46:23 AM EDT

Originally Posted By highwayman:
That's how much the government took out of my bonus check this year. Can you believe that? I need some tax deductions that don't call me daddy. So how much of your check did the IRS help themselves to? MJD




I cant believe your speaking out aginst our government in a public forum. Men in black suits will be visiting you soon.
Link Posted: 3/17/2006 7:53:55 AM EDT
[Last Edit: 3/17/2006 7:54:06 AM EDT by illigb]
Let's see... 1913 the first National Income Tax law was enacted with the rate being 1%.

How did it get from 1% to what it is today? Socialism sucks.
Link Posted: 3/17/2006 7:54:36 AM EDT
Think about this.

You make $100,000, get taxed %36

You net $64,000 ($36,000)

You spend $20,000 of that as disposable income (food, clothes, entertainment, travel, etc)
City/state tax it at 8% ($1,600)

You pay taxes on your 2 cars, your $200,000 house and all your other personal property. ($3,000)

You spend $3,000/year on gas, which about half of it is straight tax money ($1,500)

Now you net $57,900.

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Link Posted: 3/17/2006 7:57:25 AM EDT
40.6% was taken from my bonus check.
Link Posted: 3/17/2006 8:03:28 AM EDT
I got an $8000 reenlistment bonus several years ago, I think I only actually saw about $5000 of it though, always thought it was kinda underhanded that the government pays you and then takes part of it right back

This last year was kind of a fluke and I actually got back a refund for about $500 more than I had withheld for the year.
Link Posted: 3/17/2006 8:03:57 AM EDT
I just realized, the normal withholding is about 27%. Why is more taken from bonuses? MJD
Link Posted: 3/17/2006 8:05:36 AM EDT
I thought this tread was about Bush's approvel rating.
Link Posted: 3/17/2006 8:07:42 AM EDT
if the .gov can take just 1%, then there is nothing to stop them from taking 100%
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