Classic Auto body Restoration Services
Question.
Does any one know how much they actually pay in taxes each year?
Below is information that may surprise you
The Federal Government
2007 federal personal income tax rates. Source IRS web site
Ordinary taxable income for use in filing returns due April 15, 2008.
Tax rate Single filers / Married filing jointly / Married filing separately / Head of household
or qualifying widower
10 % Up to $7,825 / 10% Up to $15,650 / 10% Up to $7,8250 / 10% Up to $11,200
13.77% Up to $31,850. / 13.77% Up to $63,700 / 13.77% Up to $31,850 / 13.69% Up to $42,650
20.36% Up to $77,100. / 19.43% Up to $128,500 / 19.43% Up to $64,250 / 20.62% Up to $110,100
24.33% Up to $160,850 / 22.38% Up to $195.850 / 22.38% Up to $97,925 / 23.44% Up to $178,350
29.01% Up to $349,700 / 27.05% Up to $349,700 / 27.05% Up to $174,850 / 28.13% Up to $349,700
32.91% Up to No Limit / 32.22% Up to No Limit / 33.61 % Up to No Limit / 32.6% Up to No Limi
The state of Michigan
Michigan has a flat tax rate of 4.35% of your total weekly gross.
Your city
Do you pay a local tax? If so what's their rate? Lansing Resident 1% Non resident but work in Lansing 1.2%
Thats not the end.
Figure in all the taxes you pay on your monthly bills.
Property,
Gas,
Electric,
Phone,
Cable TV or (satellite),
Cell phone.
Etc.
No tax on water, or trash service. (Yet)
Did you purchase a car this year, yes tax on that, license plates, of course. If it was used did it need new tires, exhaust
or what repairs did your existing vehicle need?
Do you wear clothes? Use bath towels maybe you like to use deodorant and brush your teeth.
How much tax do you pay on toiletries each year?
I bet you have table ware, bed linen maybe you buy new stuff through each year, and soap to clean them.
Do you like to sit on furniture? You paid 6% in Michigan
Where do you eat lunch? Fast food or any restaurant There's a tax.
Ever go out for on night on the town? You were taxed.
How many miles do you drive each year? What kind of gas mileage does your vehicle get?
Yup thats a lot of tax.
Michigan $0.19 per gallon Reg unleaded Plus 6% sales tax and 0.875 cpg for environmental regulation fee for refined
petroleum fund.
Federal gas tax $0.18.4 per gallon That equals $0.4265 cents per gallon
Average full size car 13 gallon tank about $5.55 every fill up. 35 Gallon SUV $14.93 in tax
Think about everything you purchase through the year form the simplest to the highest.
Add up the amount in tax.
For Michigan purchases of any kind other than non prepared food are taxed 6%
I bet when you add all this up you will find that over 42% of your weekly paycheck goes to support your government.
Now include a spouse. Let me know if your under 54% of your annual income in government tax.
How much do children cost? I'm going to let you figure that out, how many do you have 1, 2, 3 or more.
When it's all said and done reverse the figure and see how much of your hard earned money the government lets you
keep.
Now think about your hourly wage.
If your salary break it down by the average annual work time of 2080 hours.
How many hours are you working for the government? Write your senator's and tell them you want benefits, & a 2 week
vacation. Or at least health Insurance.
Have a nice day!
Does any one know how much they actually pay in taxes each year?
Below is information that may surprise you
The Federal Government
2007 federal personal income tax rates. Source IRS web site
Ordinary taxable income for use in filing returns due April 15, 2008.
Tax rate Single filers / Married filing jointly / Married filing separately / Head of household
or qualifying widower
10 % Up to $7,825 / 10% Up to $15,650 / 10% Up to $7,8250 / 10% Up to $11,200
13.77% Up to $31,850. / 13.77% Up to $63,700 / 13.77% Up to $31,850 / 13.69% Up to $42,650
20.36% Up to $77,100. / 19.43% Up to $128,500 / 19.43% Up to $64,250 / 20.62% Up to $110,100
24.33% Up to $160,850 / 22.38% Up to $195.850 / 22.38% Up to $97,925 / 23.44% Up to $178,350
29.01% Up to $349,700 / 27.05% Up to $349,700 / 27.05% Up to $174,850 / 28.13% Up to $349,700
32.91% Up to No Limit / 32.22% Up to No Limit / 33.61 % Up to No Limit / 32.6% Up to No Limi
The state of Michigan
Michigan has a flat tax rate of 4.35% of your total weekly gross.
Your city
Do you pay a local tax? If so what's their rate? Lansing Resident 1% Non resident but work in Lansing 1.2%
Thats not the end.
Figure in all the taxes you pay on your monthly bills.
Property,
Gas,
Electric,
Phone,
Cable TV or (satellite),
Cell phone.
Etc.
No tax on water, or trash service. (Yet)
Did you purchase a car this year, yes tax on that, license plates, of course. If it was used did it need new tires, exhaust
or what repairs did your existing vehicle need?
Do you wear clothes? Use bath towels maybe you like to use deodorant and brush your teeth.
How much tax do you pay on toiletries each year?
I bet you have table ware, bed linen maybe you buy new stuff through each year, and soap to clean them.
Do you like to sit on furniture? You paid 6% in Michigan
Where do you eat lunch? Fast food or any restaurant There's a tax.
Ever go out for on night on the town? You were taxed.
How many miles do you drive each year? What kind of gas mileage does your vehicle get?
Yup thats a lot of tax.
Michigan $0.19 per gallon Reg unleaded Plus 6% sales tax and 0.875 cpg for environmental regulation fee for refined
petroleum fund.
Federal gas tax $0.18.4 per gallon That equals $0.4265 cents per gallon
Average full size car 13 gallon tank about $5.55 every fill up. 35 Gallon SUV $14.93 in tax
Think about everything you purchase through the year form the simplest to the highest.
Add up the amount in tax.
For Michigan purchases of any kind other than non prepared food are taxed 6%
I bet when you add all this up you will find that over 42% of your weekly paycheck goes to support your government.
Now include a spouse. Let me know if your under 54% of your annual income in government tax.
How much do children cost? I'm going to let you figure that out, how many do you have 1, 2, 3 or more.
When it's all said and done reverse the figure and see how much of your hard earned money the government lets you
keep.
Now think about your hourly wage.
If your salary break it down by the average annual work time of 2080 hours.
How many hours are you working for the government? Write your senator's and tell them you want benefits, & a 2 week
vacation. Or at least health Insurance.
Have a nice day!
Featured Restoration
1969 Plymouth Roadrunner
For Sale
Bahama Yellow
1969 Plymouth Roadrunner
For Sale
Bahama Yellow
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