So, I’m working on my taxes for last year, and I remembered a funny quote thrown around by Conservatives. “You work until such and such a day to pay your taxes!” In this case, it’s mid to late April. Hmm…the numbers don’t seem to add up. Let’s look closer.
My income last year was $44,000, give or take. This is a nice sum for someone who hadn’t been given much of a chance before in the economy. My taxes on that $44,000 include: $2725 in federal taxes, $1200 in state taxes, and a horrible back breaking amount of $66 in local taxes. I don’t know about that, that $66 will kill the bank. I don’t pay Social Security tax because I’m enrolled in a different government backed pension, PERA (six of one, half dozen of another, and not only do I not contribute to SSI, I also cannot count this income as part of my SSI benefit).
I earned, on average, $3696 a month. My Federal taxes for this year are paid off, my state taxes will be payed off by the beginning of next month, and I will pay my local taxes off in less than a day (oh, the pain). PERA does add an extra $3509, but this number not only will push me only out to March for paying my taxes off, it also ensures that I have money when I am too old to work (assuming that happens), and pays those who are collecting retirement right now, which is a pretty good use.
Early March? I’m being told by this site that I still have to work a month and a half more to finish my taxes? What gives?
Simple. The richer you are, the more your income can support paying taxes. Someone who earns $1,000,000 a year can live ten of my lives and then some and still have enough room in his budget to ‘work to June’ to pay his taxes. Before I started working here, my jobs, which paid $7 to $10 an hour, would require me to work to June just to pay for my housing for the year! Food would take me into September. Between taxes, bills, and other stuff, I’d be into next year before my budget was closed.
Now, I work until March to pay off all my taxes. It’s late June before housing is paid off (which covers many of the other bills). I actually have July through December for fun stuff….imagine that. How long would David Koch have to work to pay for an apartment like what I live in? Probably just long enough to write a check. Imagine that.
I do agree that taxes have some room for discussion. But people who insist that taxes are too high and we work until late April to pay them off are being disingenuous. You don’t. The rich people are just bitter they can’t keep more of their money.
Try it with your tax returns. Does it hold true for you as well?