Per Donald trumps facebook page, he is going to announce big tax reform and tax reduction on Wednesday. Personally, I can't wait to hear what he has to say. Hopefully it will mean more of my hard earned money will stay in my pocket and not the pocket of some piece of crap who is too lazy to work.

I'm offended

triggered is the new term......

I will reserve my opinion until I hear the details. I still remember the big hoopla over the secret heath reform that was written to benefit big interests and money instead of a free market approach. That said, I want to support him and give him the benefit of doubt on this tax plan. I don't mind THIS benefitting corporations, since they employ most folks. I hope the little guy benefits, too.

Trump said it was gonna be something so terrific we won’t even believe. It must be huuuuuge whatever it is……

Won't change much if any, most will go into the pockets of the super rich. Middle class will remain

Biggly

The middle class doesn't pay that high of a percentage in taxes. I know everyone thinks they pay like 50% in taxes, but in reality it's more like 10%. Especially if you have kids. For a family of 4 making $50,000-$100,000, the effective tax rate is extremely low.

Lot's of "rich" folks actually do pay more like 40%+. Nobody that makes below $250K does. Nobody.

Hell I wish I only paid 10%.

You could be paying more. My point was I hate taxes as much as anybody, but unless you're making well into the 6-figures it's not like you're paying "half" of your money in taxes.
Health insurance is a whole different story...

Maybe not in income taxes but if you add in all the other taxes you get pretty close.

Not if you use Geno's tax method. You're 100% correct and it amazes me that people belive they pay the amount of taxes that a marginal tax bracket shows on all their income.And your $250K is conservative, it's more like $400K for a couple filing jointly. Take the amount of Federal taxes you owed on 4/18 and divide it by your total pay for the year. That's your effective tax rate.

Yep. Face value may not seem like that much, but look at how taxes inflate the consumer costs of everything at a compounded rated for everything we use. From the ground to our hands, plus income taxes, we pay way way more than 50%.

Yes sir!

I pay more than 10% at Bass Pro Shops in Daphne.

Federal income tax, state income tax, medicare, SS, FICA...all that before state/county/municipal sales tax, property tax, motor vehicle registration and boat registration taxes, luxury tax, road use tax on gasoline and other fuels, communications tax on cell phones and landlines...I probably get taxed for paying tax.

Bullchit. Between State, Federal, SS, and Medicare(also a tax imo), I pay in about 35% a pay check. And that's on checks with little to no Overtime. Throw in a couple days of Overtime, and it's up near 40%.

Top rate is 39.6% federal and 5% state. That ONLY kicks in after $450,000 if you're married. Sounds like you're a baller!

You don't realize how much you are paying because much of it is hidden:

- Income tax (Fed, State, City in some places)
- FICA (you & your employer (they are paying as much as you on YOUR behalf)) you have to double what you pay
- Fuel - do you drive?
- Property Tax - do you live indoors (you pay tax)
- sales tax - do you buy anything
- Lease hunting land - part of that money goes to their property tax + other taxes for leasing the land
- Does anyone do any work for you? electrician, plumber, etc? Part of your payment to them is their tax.
- cell phone tax
- electricity tax
- water/trash pick up tax
- tax on insurance
- cable TV tax
- smoke? Drink? = Tax

Add it all up and you will cry.

I found a more complete list online. Start checking off the things that you pay. Keep in mind that if your company wasn't paying a much in taxes, that they would have more $ to pay to you.

A partial list of the various ways in which citizens of the US are taxed:

Accounts Receivable Tax
Building Permit Tax
Capital Gains Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Deficit spending and debt servicing (Fiscal 2011 state and local debt per capita was $9184)
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel permit tax
Gasoline Tax
Hunting License Tax
Inflation
Inheritance Tax Interest expense (tax on the money)
Inventory tax IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax (Spirits, wine and beer)(From zero per gallon in Vermont to $34.22 in Washington for spirits)
Local Income Tax
Lottery (Fiscal 2011 per capita average was $59)
Luxury Taxes
Marriage License Tax
Medicare and Medicaid Taxes
Property Tax
Real Estate Tax
Septic Permit Tax
Service Charge Taxes
Social Security Tax
Road Usage Taxes (Truckers)
Sales Taxes
Recreational Vehicle Tax
Road Toll Booth Taxes
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone federal, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring and non-recurring charges tax
Telephone state and local tax (Cell phone state and local tax rates in 2013 range from 1.85% in Oregon to 18.67% in Nebraska)
Telephone usage charge tax
Toll Bridge, Tunnel and Road Taxes
Traffic Fines (indirect taxation)
Trailer Registration Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax