taxed on small PM purchases? An interesting look...
MsMorrisine
Posts: 33,240 ✭✭✭✭✭
MsMorrisine
Posts: 33,240 ✭✭✭✭✭
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Soon we will be paying tax on taxes....
Cheers, RickO
We are, or at least some are... it’s called social sec... .... .....
What's earned gets taxed, what's left gets taxed when it is spent, and if you spent it on certain property there's the annual property tax.
Taxes alone should send money velocity through the roof.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
In all fairness, we are only taxed on a portion of S.S. income.
Up to a max of 85%, but still a tax on a tax.
Forgot the obvious, government employees (that includes any paid politicians).
Time to go pay a tax on something.
Strange, still no PM tax in the commonwealth, god bless the commonwealth!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
vote for me.
I pay Medicare tax, then I pay Medicare premiums. Anyways, I come out ahead by not getting sick - but I still wonder where all that money goes.
(Actually, I don't wonder. DC is one of the richest locales in America.)
I knew it would happen.
Actually it's called social security. Taxes on a tax.
You are paying tax on 35% of your SS income that represents your 'contribution' to the system. You have paid income tax on that already - so you are paying tax on a tax. Included in the amount subject to income tax is your Medicare premiums. If you are also working while receiving SS, the SS and Medicare tax you are paying on your current wages are included in income used to calculate if you are subject to the 85% tax on your SS - and those Medicare premiums paid out of your paycheck don't count toward your Medicare premiums taken out of your SS checks.
and if you are unfortunate enough to die at 64 years 364 days old - you get nothing, despite the fact you paid income tax on those contributions. This demonstrates that the government can tax you on something which you lack any real ownership...
"and if you are unfortunate enough to die at 64 years 364 days old - you get nothing, despite the fact you paid income tax on those contributions."
On the other hand, if you live to be 100, you'd recouped more than double what you paid in. With the average age life expectancy in the US being around 80 years, most of us will recoup more what was paid in.
i heard that Connecticut wants to tax downloads on your computer now. its only the start
I'm 30 years old and pay into S.S. I highly doubt I will ever see that money when I go to retire.... so enjoy paying taxes on it for me, OK?
SS won't disappear. it will shrivel on the vine. something will be left, but not as its former self.
That depends actually. If you were married and only one of you worked, then you are correct. If both of you work, then you would receive less back.
This assume you ignore the fact that the government is taxing you again on a portion of your payments...
Some Dems in Hartford want a food sales tax and a home heating fuel/propane tax and tolls. On top of the sales tax, including all internet transactions, even if it's used goods, fuel tax, income tax and property tax. CT is fast becoming the poster child for oppression and tranny. Unions, pensions and catering to the voter base is priority number one. Proud to say I'm the enemy and NOT part of the voter base.
CT literally is the "just raise taxes" state.
I am no friend of them either, just saying
I firmly believe, the committee of 5 would have already formulated a plan to raid and dethrone the one party system here in the Consumption State.
Ditto. Wife is trying to get me to agree to leaving this liberal hellhole and its looking better and better to leave this sinking ship everyday.
You should also be aware that the home heating oil tax is already in effect... 😬
Here are a few more new taxes either in effect or soon to be:
The fee study item made me chuckle. “We need to create a commission to find $50,000,000 in new fees to charge customers.” Maybe we don’t have a revenue problem, maybe we have a spending problem?
End rant.
there is no plastic bag fee
I don't blame anyone for leaving here. salute
@MsMorrisine it is effective August 1 2019.
https://www.apnews.com/0acf786817464c45bbf1d17eeb031037
oops
"Ditto. Wife is trying to get me to agree to leaving this liberal hellhole and its looking better and better to leave this sinking ship everyday. You should also be aware that the home heating oil tax is already in effect..."
Didn't realize the home heating fuel/propane tax was already go, that's .15 cents a gallon correct?
It's coming down to two options, pitchforks and torches or abandon the state I've lived in for 45 years.
Move.
Plenty of jobs in areas in areas with increasing populations.
Knowledge is the enemy of fear
I tried this a few years ago. Moved from Ca to Nv because I was fed up with the constant tax increases and policies that I no longer wanted to deal with. Unfortunately the jobs created here bring waves of people here from Ca and other states that crush businesses and those people also bring their mindset.
Nv legislature and Governor just went blue for the first time in years. I see a state income tax in our future.
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