Fact :Middle income families are paying well over 50% in misc. taxes compared to their earnings.
Example by well known and respected financial wizz George Nastas:In an average-tax state, a middle-income worker with earnings of $34,000 must pay $17,038 to purchase a $10,000 car--$10,000 to buy it and $7,038 for sales tax and the income and payroll taxes on the earnings used to pay for the vehicle. He or she must work three and one-half months to buy the car, then two and one-half additional months to pay the taxes on the income used to purchase it. For self-employed middle-income workers, the true cost of that auto is $18,320, because they are subject to a 14.1% self-employment tax, to cover the employee and employer shares of Social Security and Medicare (FICA), on their incomes.
I find it funny:mj07: ,your chart.Just don't call out others who do the same hypocrite.