15 Feb 2025 10:45 pm
*GHETTOBLASTER » 21 minutes ago » wrote: ↑ https://financesonline.com/top-ten-coun ... -tax-rates
Can we use the percentage of your income that you are forced to hand back to your governments as a way to define socialism...?
Does 50% work...?
Here is where we are, about 1/3 of our income gets handed back to various governments........https://taxproject.org/tax-freedom-day/
"The Tax Foundation publishes the Tax Freedom Day and calculates it by adding the total Federal, State, Local, Income, Medicare, and Excise taxes and then dividing them by the nation’s income. However, some states like New York may have Tax Freedom days much later into May, or earlier for states like Alaska.2 So their published date doesn’t necessarily represent your Tax Freedom Day as your salary maybe higher or lower, and you may have other taxes that aren’t included like permits, registrations, tolls, parking fees, etc. and your individual taxes are probably not the nationwide averages.
Most of the problems we have like homeless encampments, broken families, and financial debt enslavement are caused by “late stage capitalism”
The existence of taxes that are mis-allocated or too burdensome on the $250K - low millionaire club (but not the $100M+ group as they pay very little % wise) doesn’t mean we have socialism