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From: rb@ccivax.UUCP (rex ballard)
Newsgroups: net.taxes,net.legal
Subject: Re: Silly us
Message-ID: <456@ccivax.UUCP>
Date: Mon, 10-Mar-86 15:38:21 EST
Article-I.D.: ccivax.456
Posted: Mon Mar 10 15:38:21 1986
Date-Received: Fri, 14-Mar-86 05:48:03 EST
References: <513@kontron.UUCP> <750@ttrdc.UUCP> <624@sigma.UUCP> <433@ccivax.UUCP> <1171@mmintl.UUCP>
Reply-To: rb@ccivax.UUCP (What's in a name ?)
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Organization: CCI Telephony Systems Group,  Rochester NY
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Xref: watmath net.taxes:1085 net.legal:3101

In article <1171@mmintl.UUCP> franka@mmintl.UUCP (Frank Adams) writes:
>In article <433@ccivax.UUCP> rb@ccivax.UUCP (What's in a name ?) writes:
>>A lottery winner actually won $1 million, and ended up with $20,000
>>"after taxes".
>I assume the lottery winner won $50,000 a year for 20 years, and ended up
>with $20,000 of the first $50,000 payment.  This may be too much of a tax
>bite, but it isn't obviously and absurdly so.
>
No, actually this was the final amount.  Among the problems, he did not
properly declare the income and paid heavy penalties, he tried to go
to Canada to avoid taxation (it backfired, Canada wanted tax too)
He also had to pay taxes, interest and penalties to two different states
(one of them New York).  If he had just paid his taxes to everybody up
front, he would have gotten about $200,000, and paid sales/excise taxes
depending on how he spent it.
This happened about two years ago.

Note: I found out my perspective may be a little clouded. N.Y.N.Y. has
a 65% higher avarage real tax burdon than the national average.  I heard this
on NPR along with the actual burdon, but can't remember what that was
(around 50% I think).  This did not include F.I.C.A. (not really a
tax, but hurts like one), excise taxes (alcohol, cigarettes, tobacco...),
or indirect taxes like tariffs on imports.

Anybody know which state has the lowest REAL TAX burdon?
What's California like?
Anybody know what the total budget of federal and ALL state and local
governments is?  How does it compare to GNP?