4/03/2006

tax fun 06

(R) 2005, if you want to be technical. This gets an (R) instead of a (P) because I'm not going to offer serious solutions, just complain. That's what Mondays are for, after all, even if it is opening day!

First a compliment, though. It took the Cardinals about the same time to score 8 runs as it took me to do my taxes. Not too shabby. Usually, the people who complain about taxes are the ones with all those annoying things like houses and stock portfolios. Or the ones trying to hide cash in offshore accounts. To assets I say pish posh.

The ranting part is that for all the crap certain "family values" political operatives spew about marriage penalties and whatnot, the tax code takes aim squarely at young single filers, because our main expenses are things like rent, food, transportation, and work clothes, none of which are deductable. In 2005, I paid 9.4% of my total income to the feds (well, just the income tax portion) and 3.1% to the state (not to mention the 1% that went to the city of St. Louis, and again, just income taxes. The regressive nature of consumption (sales) taxes are a whole separate issue.).

Now, I guarantee you that my parents made more money than me in 2005. I would wager a lot that they paid less than 12.5% of their income in state and federal income taxes. Any takers?

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