Friends,
I just met a young man working at Taco Bell. When he told me his income tax with-holding was about 30%, I wanted to CRY for him.
When my REAL tax with-holding rate was about 30% (on 100k per year), I figured out my real tax rate was about 56% ….
MY taxes were about 56%.
That means this young man is currently carrying over 55% real tax rate. And about one third is just to pay other people NOT TO WORK.
Welfare is KILLING US.
I don’t want to starve people, but shouldn’t welfare cover emergency food needs and NOT iPhones?
What do you think?
Wayne
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People tend to forget that if an item’s price is $1.00, it’s COST is really about $1.50. That is because they withhold $$ before you can spend it. So next time you buy a $20 pair of whatever, remember you had to come up with $30.
Great comment!
Wayne