The Million Dollar Slave (You)
Seems a fitting time to post this, given the recent events in Austin, Texas. Consider this a visual representation of my political views. Everyone hates taxes, some more than others. Some consider them a "necessary evil" and some perhaps think they have a negligible impact on their lives. Lets put it into perspective:
Everyone is different, especially state to state, but lets assume:
59 1/2 retirement age
Single / Married filing separately, claiming a standard deduction
Federal/State Income tax, 6% sales tax, Social security, and Medicare only
3% APR return on your money
Net tax payments over your entire working life, by Annual Income
http://i45.tinypic.com/2uyqhzm.png
Years of your life working 40 hours a week, 52 weeks a year to pay absolutely nothing but your tax bill
http://i45.tinypic.com/2vvnrxj.png
The average American made $55,000 last year. From these graphs, they will spend almost 12 straight years of their life paying over $1 million dollars in taxes. Slaving away a decade of my life, for absolutely nothing in my pocket, only to make someone else a millionaire? I think I'll pass...
Everyone is different, especially state to state, but lets assume:
59 1/2 retirement age
Single / Married filing separately, claiming a standard deduction
Federal/State Income tax, 6% sales tax, Social security, and Medicare only
3% APR return on your money
Net tax payments over your entire working life, by Annual Income
http://i45.tinypic.com/2uyqhzm.png
Years of your life working 40 hours a week, 52 weeks a year to pay absolutely nothing but your tax bill
http://i45.tinypic.com/2vvnrxj.png
The average American made $55,000 last year. From these graphs, they will spend almost 12 straight years of their life paying over $1 million dollars in taxes. Slaving away a decade of my life, for absolutely nothing in my pocket, only to make someone else a millionaire? I think I'll pass...
Load Comments...
Discuss...
Enable JavaScript to submit a comment.