Tuesday, October 14, 2008
election year taxes, more taxes
As some of you venture out into the world(SIC), be aware that you will have to pay income taxes. Currently, the Federal Tax bite for single, earning $50,000 is $6,613. Then there is the State tax nibble, depending on which state in which you reside, could be anywhere up to $1,200. Lucky enough to go the New York City, you pay city tax along with the Federal and State. Then, don't discount the area sales tax on beer, restaurant, clothing, home products, taxable items at the grocery store, cars(don't forget to check to see just how much tax is on the vehicle purchase), then to add insult to injury, there is sales taxes on each gallon of gas sold. In New York I believe the total tax, federal, state, and local, is 63 cents per gallon(depending on county). Then there are those wonderful deductions of Social Security, Medicare. Top off the drain with additional tax, fees/licensing/registration/other licensing, road tolls(up north) coming to I95 closest to you and your $50,000 salary qualifies you for public housing(!!) Marry a rich women/man that has no dependents and wants to leave most of his money to you, so the gov can get the inheritance/death tax. Win the lotto and the gov takes about 50%. No matter which party is in power, the pols are corrupt and cater only to the ones they legislate tax loop holes for, during their administrations. No tax loop hole for youse guys. Graduate and get to work. I need youse guys to pay my Social Security. The government free mandated golf for seniors is a good program, so support it. It will "create" jobs for Coastal Grads from the PGM School. Good Luck:) If any of you have any cash left, pay those pesky student loans.
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