America has the highest taxes in the world!

Our tax system is an absolute disaster.
Honestly, we could just sit down and cry about it :-/

We’re dealing with a tax system that’s generally a total mess, but this whole local surcharge issue in Cleveland isn't one of those instances. For example, I find it incredibly stupid how places like a suburban US city or even some small towns near Chicago can just set their local income tax to 0%. They think they're being clever by attracting investors, but then the moment a road needs fixing, they turn around and demand federal handouts because they claim they have no funds. Personally, I wouldn't hand over a single cent from decentralized federal funds until these municipalities squeeze every possible dollar out of their own residents first. If there's still a deficit after that, then—and only then—can they come knocking. We asked for decentralization, and this is what we get? Fine. Let every local big shot figure out how to actually fund their own backyard instead of selling smoke and mirrors...

And when it comes to tax burdens, it's all relative. It feels massive for someone who just draws a standard paycheck. But if you’re living off interest, what does your actual tax burden look like?🙄 Or take the business owners: everyone buys everything through the company and claims the Sales Tax back (thank God they aren't trying to write off their groceries on the company card anytime soon). Most of them pay themselves the bare minimum as owners to dodge certain taxes, and then at the end of the year, they pull out the profit after just paying a 20% corporate tax. When you do the math, what’s the real effective tax rate there?🙄 And according to Milan Bandić, everyone is entitled to everything for free—especially now, if you look at the push for subsidized childcare based on household income.

God... around here, they only ever judge wealth by a salary, but once the cash flow dries up, they'll realize just how much trouble they're in when they're forced to face the reality of the taxman's shears...😁

I don't want to start any new drama by opening a whole new thread, but regarding Novotny's statement, does anyone happen to remember the specific part about foreign deposits hitting 50%??
Isn't that figure actually closer to 20-25%?

Otherwise, I also read the section in the article arguing why most, if not all, of the tax burden will likely shift onto the debtors.

So, why is our tax burden so heavy? Our Sales Tax sits at 23%, while there are a few spots in Europe—with Canada being one of them—that hit 25%. I guess it's just one of those things.

Besides that, Sunday. Sunday She went ahead and added a surcharge, even without the extra bit. I was looking at some recent data on income shifts, and it seems like things are moving around more than people realize. Apparently, there’s been this shift in how much people are actually pulling in after everything is settled. According to some reports, there's a noticeable gap when you look at what people take home versus what they earn on paper. It looks like the difference between gross and taxable income is becoming a bit more pronounced lately. I guess it just goes to show how much those various deductions can really eat into your paycheck. It’s a bit of a mess to parse through, honestly. Maybe it isn't as surprising as it sounds, but seeing the numbers laid out like that—especially with how much the cost of living is hitting everyone right now—it definitely makes you think twice about your monthly budget. Just one of those things, I suppose.

She couldn't really pull that off until she officially became a city—correct me if I'm wrong there—and honestly, she spent years grinding just to make that happen.

I can't access that specific link, but if you paste the text here, I'll get to work on it. Just send over the content and I'll handle the rewrite.

Our taxes are pretty high, I guess, but they aren't exactly the highest out there. It’s just how it works, maybe—if we want to actually fund the public sector. I mean, if we want decent schools, hospitals, free college for everyone, and roads that don't fall apart, we're going to have to pay for it somehow.

quietcyclist46 said:We’re dealing with a tax system that’s generally a total mess, but this whole local surcharge issue in Cleveland isn't one of those instances. For example, I find it incredibly stupid how places like a suburban US city or even some small towns near Chicago can just set their local income tax to 0%. They think they're being clever by attracting investors, but then the moment a road needs fixing, they turn around and demand federal handouts because they claim they have no funds. Personally, I wouldn't hand over a single cent from decentralized federal funds until these municipalities squeeze every possible dollar out of their own residents first. If there's still a deficit after that, then—and only then—can they come knocking. We asked for decentralization, and this is what we get? Fine. Let every local big shot figure out how to actually fund their own backyard instead of selling smoke and mirrors...

And when it comes to tax burdens, it's all relative. It feels massive for someone who just draws a standard paycheck. But if you’re living off interest, what does your actual tax burden look like?🙄 Or take the business owners: everyone buys everything through the company and claims the Sales Tax back (thank God they aren't trying to write off their groceries on the company card anytime soon). Most of them pay themselves the bare minimum as owners to dodge certain taxes, and then at the end of the year, they pull out the profit after just paying a 20% corporate tax. When you do the math, what’s the real effective tax rate there?🙄 And according to Milan Bandić, everyone is entitled to everything for free—especially now, if you look at the push for subsidized childcare based on household income.

God... around here, they only ever judge wealth by a salary, but once the cash flow dries up, they'll realize just how much trouble they're in when they're forced to face the reality of the taxman's shears...😁

I guess it’s because there really aren't that many actual business owners or CEOs out there. Most people just have a steady paycheck, the house they live in, maybe a small yard, or a little vineyard if they're lucky.

Haha, I couldn't resist dropping this link... pure cynicism with a soul:

Jadranka Kosor at the White House playground

I have a question... Well, more like a few questions🙂
I’m working through a disability cooperative, mostly just handing out flyers.
Basically, I have a checking account set up through them, and that’s how my payments get deposited. What I’m trying to wrap my head around is why they take a 20% cut from our "pay," especially since we aren't even officially on the payroll, yet the money I bring in doesn't count as income when it comes time to file for a tax refund?
I’m not sure if I’m explaining this right, because honestly, it doesn't make much sense to me either🤷
All I know for certain is that 20% is a massive chunk to lose, regardless of whatever the paycheck amount happens to be...😕

It feels like about 40% of my paycheck just vanishes... 🙂

Maybe just give the IRS a call? Ask them how they're calculating it and if they even should be taking that much in the first place...

Paul Anderson2 said:It feels like about 40% of my paycheck just vanishes... 🙂

Maybe just give the IRS a call? Ask them how they're calculating it and if they even should be taking that much in the first place...

40%?!?
I really hope your salary is at least $10,000 then, otherwise😉
thanks🙂
I'm actually pretty curious to see what you find out

They’re taking way more out of everyone's paychecks now. I mean, I'm sure people with disabilities get plenty of tax breaks and all, but... well, I'm not disabled, so I don't get much out of it.