Trump made a similar promise at his own rally in the city in June — though neither he nor Harris are likely to be able to fully do that without actions from Congress.
I’ll guess if you’re non-US, you’re also getting things for your taxes such as healthcare and other services. For us, it’s essentially a la carte pricing, so for many of these people in the lower tax brackets, healthcare is much more than taxes.
The bottom 50% of earners pay about $700/yr in federal tax. State and local taxes, property tax, school tax, and sales tax on top of that. “Average” income tax is $15,000, only due to wealth disparity. The bottom 50% pay less than 2.5% of all income tax.
Average healthcare cost is around $14,000/yr, so even for solidly middle-class people, healthcare costs are the same or higher than paid taxes, so that is probably much closer to, if not more than you may be paying.
Paying tax is a civic responsibility. The real pain comes from not feeling like you get what you pay for. I’ve no issue with coughing up some cash for safe roads and food inspectors, but when we have bridges collapsing and healthcare isn’t considered a human right, it makes for some discontentment.
Wow, that chart does look crazy high in comparison.
I always think VAT looks wildly expensive as well.
I found 2 more charts and each country looks to have fairly different ways of taxing people, making it hard to see who’s getting the best and worst deals. Especially as the taxes go to different things.
This is just federal income tax and doesn’t count tax contributions towards medicare and social security (which is capped after a certain level, so someone making $1 million a year pays the same toward social security as someone making the cap which is currently around $160k). It also doesn’t count state income taxes.
Wish my wages were taxed at those brackets
I’ll guess if you’re non-US, you’re also getting things for your taxes such as healthcare and other services. For us, it’s essentially a la carte pricing, so for many of these people in the lower tax brackets, healthcare is much more than taxes.
The bottom 50% of earners pay about $700/yr in federal tax. State and local taxes, property tax, school tax, and sales tax on top of that. “Average” income tax is $15,000, only due to wealth disparity. The bottom 50% pay less than 2.5% of all income tax.
Average healthcare cost is around $14,000/yr, so even for solidly middle-class people, healthcare costs are the same or higher than paid taxes, so that is probably much closer to, if not more than you may be paying.
Paying tax is a civic responsibility. The real pain comes from not feeling like you get what you pay for. I’ve no issue with coughing up some cash for safe roads and food inspectors, but when we have bridges collapsing and healthcare isn’t considered a human right, it makes for some discontentment.
Before any taxes are applied, we pay 13,08% for social security. Then taxes are applied according to following brackets:
Wow, that chart does look crazy high in comparison.
I always think VAT looks wildly expensive as well.
I found 2 more charts and each country looks to have fairly different ways of taxing people, making it hard to see who’s getting the best and worst deals. Especially as the taxes go to different things.
Chart article
This is just federal income tax and doesn’t count tax contributions towards medicare and social security (which is capped after a certain level, so someone making $1 million a year pays the same toward social security as someone making the cap which is currently around $160k). It also doesn’t count state income taxes.