How Much Do You Really Pay in Taxes?

I always get a kick out of pundits who claim that we are lucky to live in the US because we have lower taxes than the rest of the world. Yes, its true that compared to Europe we have slightly lower taxes but that certainly does not mean we have low taxes. In fact I have compiled the total amount of taxes that I have to pay for the "privilege" of living in the US and California. As it turns out I pay more than medieval serfs did to their feudal lords (lucky me!). No wonder people are leaving the US to escape this form of slavery.

33% goes to the Federal Government (for foreign wars which enrich defense contractors)

9.5% goes to the California state government--most of it goes to corrupt politicians and welfare for illegals.

7.5% to Social Security and Medicare (talk about a ponzi scheme), which I cannot opt out of. If I do not pay this unconstitutional tax I will go to jail.

8.25% for California Sales Tax---Ah its great to live in California(LOL)

1.25% property tax. (you see it is by default the government's land, even though I pay for the mortgage.)

3-5% is stolen through inflation by the Federal Reserve (kudos the Ben Bernanke and his banksters) and remember this tax compounds every year, becoming more and more oppressive.

As you can see almost everything I earn goes to taxes. I even left out other taxes like gasoline tax (35 cents a gallon), car registration tax ($500 for the privilege of a car), etc. But at least corporations like Goldman Sachs and Intel don't have to pay taxes (at most 1% in income taxes according to their 10-Q's).

Black Swan Insights