So when was your personal "income tax freedom" day?

[krispos42]

Poll question: So when was your personal "income tax freedom" day?

The first day where everything you make from there onward is what you keep.

Looking at my 1040A, I can see that my total tax was 3.85% of my gross adjusted income. That is, <line 37>÷<line 21>=.0385=3.85%


Now there are 365 days in a year, so 365*.0385=14 days, meaning my personal income tax freedom day was January 15th.


NOT April 15th, as the Repubs like to sprout off about. Even adding in FICA and Social Security it's way earlier than that.



How about you, DU?

[NYC_SKP]

1. I think for me it was to divide line 61 by line 37:

Dividing the "total tax" line by the "adjusted gross" line gave me 0.12, or 46 days after multiplying by 365.

:shrug:

[Hissyspit]

3. Same here. Form 1040.

Mine came in sometime late February.

[SharonAnn]

2. I think it's every day. Paying my taxes is what funds my government that keeps me free.

[Warpy]

7. Good answer!

In addition, tax freedom day also adds up all the niggling taxes on working people that have been passed over the past 40 years, especially, from the FICA overpayment of 40% to all the sales and excise taxes on this and that to license and user fees. Most of us who aren't plutocrats have a tax freedom day sometime in late summer.

The plutocrats, of course, are free in March as so little of their income is subject to these taxes by percentage.

We, of course, are the ones who are stuck paying for the massive, bloated military that keeps their interests safe around the world while they shrug off more and more of that burden every year.

[krispos42]

8. And child support....

...a tax on broken dreams. :-(



At least in my case.

[Warpy]

9. Don't you want your kid to have a decent life?

Really?

[krispos42]

10. Not what I meant

I wanted to raise a family. Couple of kids, loving wife, house in a quiet midwestern town.


I had the loving wife, had the cute kid, had the house in a quiet Midwestern town. Okay, it was a rental. But I was happy.


Then *bam*, all of a sudden she doesn't love me, she wants a divorce. The kid's 9 months old. Her parents freak out, try to get Child Protective Services to take him away from us (doesn't work). Then we move to Minnesota. She finds somebody else, and is carrying their 2nd child. I see my kid on weekends. Which means I have to see her, too. Everything I used to love and now can no longer.

Twice a week.






Some months its harder than other months. :-(

[vadawg]

13. child support okay, but hopefully you dont pay alimony.

[krispos42]

14. Oh, god no

That's her new Dear Hubby's job!

[Warpy]

15. I'm sorry that happened to you

It sucks when any marriage dies, doubly if there is a child and you have to see the ex to see the child. Kudos to you for being a stand up dad who wants to be a part of the kid's life in all ways. The ex is your curse, but your child will be your reward if you stick with it.

It just galls me whenever I see men object to child support as "tax," and my knee jerks to the point they'll be picking their teeth off the floor if they do it too often around me.

I hope that eventually you and your ex can make peace with the past. It has happened with other couples I know.

[krispos42]

17. It's a burdan that I have to carry; comes out of my paycheck

She doesn't work, so... :shrug:



Kid seems to be doing okay though. I get him every weekend, even though now it entails driving over 600 miles per week to do the two round trips.


Another "tax"... :-(

[tularetom]

4. Based on Federal taxes alone - Feb 8

Including State Taxes - March 1

[krispos42]

5. I thought about doing that....

...with state income taxes, FICA, and Social Security but I don't have my W-2s handy. Besides, it's Friday... all that math is too much like work! :-)

[krispos42]

6. I thought about doing that....

...with state income taxes, FICA, and Social Security but I don't have my W-2s handy. Besides, it's Friday... all that math is too much like work! :-)

[SmileyRose]

11. Three point fucking eight five percent???

Sorry, nothing personal. Honest. But this regressive taxation system makes me want to puke.

[Jack_DeLeon]

12. "Fortunately" I make just little enought that I pay no income taxes...

if I put just enough into my IRA I can get all of income taxes back.

Well except for SS and Medicare.

[Statistical]

16. Took advantage of market declines and converted IRA to Roth

still the pain was bad. An additional 17,000 in taxes.

Feels good though now all my retirement money is tax free forever.
No matter how much my Roth IRA grows I paid Uncle Sam upfront he doesn't get another nickle.