My new idea/website

[StinkerBell]

Ok...So Jan 1st I am launching a new website, www.ayearoftax.com
(a year of tax).

The goal of this is the write down every single thing that I pay a tax on. From gasoline to a cup of Starbucks. I will also be logging taxes paid when I make the power, cable or phone payment. If there is a fee that does not say tax but is a fee I will call and find out exactly if that fee is a tax. When it comes to gasoline I can figure out via the receipt how many gallons and therefore how much tax I paid. Property tax or any tax will be logged. I will not disclose Hog or mine income at the end of the month but a percentage taken out (fica 10% fed 22% etc) . I will not be too specific about which cable company. I need to keep some protection for us.

Hog and I are the middle class family, we look great on paper but we seem to be cash poor.

I will be writing out the websites goal and mission statement over the next week and will have hog proof read for me. I know I sometimes have bad writing habits

Hope you guys follow this new site. It will be interesting to see what a family really pays in a year and where the taxes go. I hope to find out where exactly an excise tax is used for.

[ScottA]

Don't forget all the hidden taxes you pay that are in the cost of goods and services you buy. Every business pays taxes and those taxes are hidden in the cost of the goods you buy. Pretty sneaky huh? My guess you'll discover you pay about 55% of your total income in taxes.

[bayview]

Don't forget all the hidden taxes you pay that are in the cost of goods and services you buy. Every business pays taxes and those taxes are hidden in the cost of the goods you buy. Pretty sneaky huh? My guess you'll discover you pay about 55% of your total income in taxes.

   And then taxing tax . . .    Such as cigarettes and alcohol.   The federal and state governments charge an excise tax on these and other products.   You then pay state sales tax on the product and the excise tax.   Double taxation.   

/.

[StinkerBell]

I am thinking around 55% taxation also. I just sure hope neither one of us die next year, don't wanna pay a death tax :

We also have a trip planned to Disney World. That will be interesting to track all that. Funny thing is we are doing that trip on the cheap so to speak. We are not staying at a hotel but in our small trailer. That alone is saving us.

[Ajax]

I am thinking around 55% taxation also. I just sure hope neither one of us die next year, don't wanna pay a death tax :

We also have a trip planned to Disney World. That will be interesting to track all that. Funny thing is we are doing that trip on the cheap so to speak. We are not staying at a hotel but in our small trailer. That alone is saving us.

I'd be shocked if you pay anywhere close to 55% in taxes.  And there is no death tax

[StinkerBell]

That's the beauty of this year long project. It will be recorded and the end result will not be disputed.

[ScottA]

MSN estimates at 40% but fails to take into account the hidden taxes.

http://articles.moneycentral.msn.com/Taxes/Advice/YourRealTaxRate40.aspx

But it gets better.

How much extra are you paying for fuel and food because of government policies that cause these goods to cost more than their fair market value? It's hard to know because the market is rigged. The prices of these products are controlled to a degree by subsidies paid to farmers to not grow crops and to oil companies to not drill for oil. These things have been going on for decades and result in you paying more for these products.

Now lets add the additional cost of land because the government keeps so much of it off the market. The federal government illeagally owns 30% of all the land in the US. If you where to go down the rabbit hole far enough you'll find that all of these things are hidden taxes.

[Homegrown Tomatoes]

I remember scratching my head as a kid when my grandpa tried to explain to me why the government subsidizes crops and why they also pay you not to produce some years.  He didn't like it either, but that's just the way things were.  I bet you do spend about 50% or more on taxes.  We were actually just about as well off when DH was in grad school and working part time.... we didn't make much, but we didn't pay nearly as much tax, either, plus we grew all we ate with the exception of milk.  Sounds like keeping records of all of it will be taxing though.

[StinkerBell]

I am looking forward to it. It will be fun and when I go to a local town hall meeting I can say as fact what percentage of my income goes to tax and why we don't need any more stinkin taxes. No more hypothetical!

[Ajax]

I remember scratching my head as a kid when my grandpa tried to explain to me why the government subsidizes crops and why they also pay you not to produce some years.  He didn't like it either, but that's just the way things were.  I bet you do spend about 50% or more on taxes.  We were actually just about as well off when DH was in grad school and working part time.... we didn't make much, but we didn't pay nearly as much tax, either, plus we grew all we ate with the exception of milk.  Sounds like keeping records of all of it will be taxing though.

I really just can't see it.  Maybe if you were single, self employed, lived in a high tax state, and had no deductions.  Maybe.  But as your income goes up, your Self employment  tax drops, percentage wise, so it would be tough to get to 50%.

[Ajax]

How's this working?  I can't seem to get the website to load