Economic Education

So what will YOU be paying for taxes this year??

Well hopefully you aren't in NY or CA ... NY will be 50%, CA will be taxing you at 52%, at their highest

The highest since CARTER was in office

Then to top that they are shutting down your loopholes ...

Think this will only effect the top 1%, or top 10%? Necks NO

Remember that you are about to get taxed on your "invisible" income - the stuff your employer pays that you don't even know about ...

Their share of your pensions
Their share of your health care
Their share of your dental plan
Any perks they give you (like a cell phone/iPad/car/gas/expense account/etc)
Your employer reimburse you for supplies you bought?
That's TAXABLE TOO
I wouldn't be surprised if the company parties or luncheons need to be counted as your income as well

BUT there is nothing that compells your employer to continue giving you the same take-home pay you have now ... So in reality your employer could count all this as part of your weekly paycheck and we might find people taking home 1/2 the amount they do now ...

Let's also remember that these taxes are just on the STATE level - there is still the federal levels yet to come ...

We are so screwed!