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User Name Thread Name Subject Posted
GUEST,Dave Williams BS: US / UK work differences (29) RE: BS: US / UK work differences 08 May 02


McGrath:

DonD's comment is correct. The equivalent of all money earned during January-April does on average go to paying taxes. Not all to US income tax, but total taxes. We also pay State income tax, City income tax, taxes on real estate owned, sales tax (which ranges from 4% to 8% or so depending on where you live), gasoline (petrol) tax, tax on tobacco and alcohol, road tax, etc. Taxes on tobacco and alcohol are very popular with politicians. They're known as "sin taxes" and the theory is that if you don't drink or smoke, you don't have to pay them. Taxes on cigarettes and liquor in particular account for at least 50% of the cost of those items and perhaps much more, again depending on where you live. Again, the "average" American pays about 33% to 38% of total income in taxes of all sorts.




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