posted May 7, 2014, 4:57 AM by Matt Lankford
Source : http://www.nowandfutures.com/taxes.html
| Item | Rate | Notes |
|---|
| Federal personal income tax | 17%
(2011 est. - 18.2%) | Top 39.6% rate. Source | | State & local income taxes | 10.1%
(2009 - 10.6%) | State taxes range from under 6% to over 12%. Local taxes run from zero to 2.75%. Source, source, source, 2009 source | | Sales tax | 9.7%
(2009 - 10.3%) | Figure is the average rate. State sales taxes range up to 8% and local taxes run from zero to over 5%. Source, source, 2008 source (broken link as of 2012), 2009 source 2011 source | | Social security & Medicaid | 7.65% | Total rate is actually 15.3% since half is paid by the employer, but we're ignoring that to be kind and to avoid being accused of being too political. | | Federal corporate income tax share | 3% | Based on corporate taxes being approximately 1/6 of personal taxes, and that they are paid by individuals in the final analysis. | | Property tax | 2.5%
(2007 - 2.7%) | Yearly average actual costs range from under $200 in Alaska to almost $1900 in New Jersey. Source | | Fuel/gasoline tax | .5%
(2009 est. - .6%) | Approximately 23% of the 2005 gasoline price is for federal & state taxes. The federal excise tax is 18.4 cents per gallon. Per the CPI, about 6% of the average budget is for transportation. Estimated. 2010 estimate, $.45 per gallon average. Source | | Other | 6%+
(2009-2013 - 8%+) | Includes estate tax, fees, licenses, inflation losses, inheritance, deficit allowance, gift, and others too numerous to mention. Estimated. |
Here is what happened on January 1st 2014:Top Income Tax bracket went from 35% to 39.6%Top Income Payroll Tax went from 37.4% to 52.2%Capital Gains Tax went from 15 % to 28%Dividend Tax went from 15% to 39.6%Total tax percentage potentially paid by the above average US citizen, 2005 - 54.4%Total tax percentage potentially paid by the above average US citizen, 2013 est. - 59.7%
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