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From: hrs@homxb.UUCP (H.SILBIGER)
Newsgroups: net.legal,net.taxes
Subject: Re: Abuse of social contracts. (tax system)
Message-ID: <512@homxb.UUCP>
Date: Mon, 18-Feb-85 08:35:58 EST
Article-I.D.: homxb.512
Posted: Mon Feb 18 08:35:58 1985
Date-Received: Tue, 19-Feb-85 08:38:01 EST
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Xref: watmath net.legal:1410 net.taxes:682



For all those who complain about the progressiveness of the 
tax system, and the resulting "high" taxes, I recommend the
following excercise.
Add up all the taxes you paid, federal income, state income,state sales,
real estate, etc.
Add up your total income, including wages, dividends, company
savings plan, stock market gains, etc.
Now calculate your overall tax burden!

I went through that excercise, and found although my marginal
federal tax rate is over 40%, my overall tax rate was 21%.
Note that my principal income, with two wage earners, is
from salaries. I have no tax shelters (except for IRA),
don't cut any corners in figuring my taxes, have no tax-free
bonds etc.

The above "overall" tax rate would even be lower if I added
in the cost of the fringe benefits such as health insurance,
pensions, etc. paid for by my employer.

I really don't object to a tax rate like that, to pay for
living in this society. I do object to the excessive
amounts spend on defense that we don't get our money's
worth for, and would like to see it spent on items that
would really strengthen our country, such as the infrastructure
education, and human resources.

Herman Silbiger