by itruns Mon Aug 04, 2008 5:42 pm
Need to vent a little. I know this post should probably go elsewhere, but to follow the thread...
I love my country and am very grateful that we are not in danger of losing our property or suffering other hardships that many others are in these times. It's just that it seems that politicians are like the silver spoon fed offspring that drive the family business into the ground.
My wife's a CPA and I'v been a slave to my small business for over 20 years. If I play my cards right, bust my derrière and somehow make a few bucks, guess who's insisting on his share. We have this silent partner we can't seem to buy-out even though he hasn't invested anything or provided us with any insight, support or sweat equity. We just operate in his territory and make our monthly protection payments to him.
If anyone had any concept of how much we are all working for the taxman in all his many forms, they would first puke, then contemplate going postal on the government's butt like our forefathers did.
Where I'm at -
Federal Corporate Tax - 25-34% of the profit
Feds - 34% (top tier if your making good money) + FICA - 15.3% (incl.. employer contributions) + IL - 3% + Cook County Sales Tax - 10% of your crappy take home pay + 2.5% of appraised value property tax
Don't forget your personal property tax, utility taxes, etc.
The alternative minimum tax can wipe out a lot of your
deductions and exemptions.
I don't see anyone out there with a bill denying multiple taxation or limiting total taxation to under 50% of our earnings.
Do you think we're all going to be able to collect on our Social Security and/or pension funds?
So we're supposed to vote for the lesser of two evils?
We're all doomed...
- Larry
