flacoinohio profile image 84

If you made more than $75,000 last year, what percentage of that income was lost to taxes?


We made $159,457 last year, we paid $ 48.3% of our earnings to City, State, and Federal taxes and on top of that we owed an additional $3688 to State and City taxes. We are paying taxes for two homes, and paying over $427K in student loans. We are trying to understand why we have to work so hard to make what we earn when we only get to keep half of it. There are people out there who make way more money than we do that pay far less in taxes. President Obama paid 20.8% of his total income to taxes, an amount far less than our tax percentage.

 

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LandmarkWealth says

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4 years ago
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Krishnakant Sonakiya (kksonakiya) says

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4 years ago
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