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You're hitting the top marginal rates and seeing sales tax be a large burden? Weird. Are you spending more than you're currently earning?
by afterburner 9y ago
You're hitting the top marginal rates and seeing sales tax be a large burden? Weird. Are you spending more than you're currently earning?
- eadmund 9y agoI wouldn't say that sales tax is a large burden, but 8½% adds up over time. No, I spend less than I earn, and save quite a bit. Some of that savings is tax-advantaged, but overall I pay a huge amount of my income in taxes & fees. I don't mind that taxes exist, really; I don't mind paying for a social safety net. But I think something's wrong when half of my productive labour & investment income is taken from me every year.
- afterburner 9y agoSo you have an extremely high income and no investments? The top marginal rate is 40%, and that only applies to what you make over $420,000.