The Front Porch

That's where folks used to sit during twilight on a summer evening cooling off from the day and discussing worldly matters like family, job, kids, neighbors, sports, politics...

"And May found a smooth round stone, as small as the world and as large as Alone."

---e e cummings

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Remember, individual responsibility is the engine of life and progress. "Collective responsibility" is at best an oxymoron, at worst a fiction invented by those who want to define our purposes for their own self-aggrandizement and power.

Friday, May 14, 2010

What does a 5% increase in your Federal taxes really mean?

Has my rocker dumped me off the porch, or does this make sense?

When the gummint says 5%, they mean 5% of your gross pay, which, by the way you never see. Once the feds and the states have rummaged through your pockets to the tune of say, 40% of your gross pay, that leaves you with 60%, a big slug of which will go to pay all kinds of other taxes., too many to enumerate here. Besides we'll all cry.

So let's say that somehow, realistically we salvage 40% of "our" pay to take care of luxuries and undulgences such as food, shelter, health, transportation, kids. Would it be too generous to say
that might leave you with 10% of "your" pay for emergencies, recreation, Cable TV, and savings?

Take away that tiny "5%" that some folks say you'll never miss, and lo and behold, it amounts to half of your remaining income!! Shouldn't be a problem saving for the future and being independent of having to dip your hands into your neighbors' pockets via governement agencies simply to survive...y'think?