For some reason after I "retired" and I am making less money than I ever have, I am paying more taxes than ever. I am basically working and paying half of what I earn to Uncle Sam.
You should see what we pay at the state level here in Minnesota. Some of the highest in the nation....
Ummmmm. Try California. These are the rates for married couples. My wife and I are above $93,532 so we pay 9.30% plus $4,118.
For earnings between $0.00 and $14,248, you'll pay 1.00%
For earnings between $14,248.00 and $33,780, you'll pay 2.00% plus $142.48
For earnings between $33,780.00 and $53,314, you'll pay 4.00% plus $533.12
For earnings between $53,314.00 and $74,010, you'll pay 6.00% plus $1,314.48
For earnings between $74,010.00 and $93,532, you'll pay 8.00% plus $2,556.24
For earnings between $93,532.00 and $2,000,000, you'll pay 9.30% plus $4,118.00
For earnings over $2,000,000.00, you'll pay 10.30% plus $181,419.52
The city of Los Angeles has a 9% sales tax rate. So then I get taxed 9% more on money I spend that was taxed at 9.30% by the state and almost 30% that I pay to the Feds. So that is almost 60% right there. Then there is every other high tax out there. Our tax we pay here in gasoline is crazy. High car registration fees. Every year we lose more and more deductions. Higher insurance costs. Oh and the fact that the government keeps printing more money and robbing my retirement while doing it!
