Quote:
Originally Posted by Lenny2
I'm not sure what the overall tax system is like up there, but here in the top brackets you pay 35% income tax, plus social security and medicare tax (15.3% if you're self employed), plus property tax if you own property, state income tax, and sales tax.
That AND we have to pay outrageous prices for health care.
Having said all that, I still wouldn't want to live anywhere but the U.S., but I wish our leaders would get out of the pockets of the HMO's and give us an affordable and efficient health care system where everyone is covered.
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Good point, although the self employment tax only goes up till $90k of your income I believe. States are a crapshoot with high taxes in places like Illinois, but zero in Florida.
But when you add up our sales taxes, the ridiculous taxes they put on gas/alcohol/cigs/etc, state/federal, and property, we're up there pretty high.
If you make little income though, the US is the best. I believe 40% of the country doesn't pay in anything in income tax, and the top 5% of taxpayers cover over 90% of the income tax paid in.