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Money and Finances
Reply to ""Tax the Rich""
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[quote=Anonymous]We do well. I am not complaining and feel very fortunate to have two very good paying careers. But we just did our end of year tax analysis with our CPA and our effective tax rate when adding federal plus DC taxes is 45% (36% federal, 9% DC and DC is only "low" because a lot of our income is through a DC C-Corp which is taxes slightly lower at 8.5%). 45% of our income going to taxes. Nearly half of what we take home. And yes -- we are utilizing every single tax strategy under the sun available to us and work with a very good CPA. So let's change the complaint from "tax the rich" to "tax the billionaires" because the regular rich are playing PLENTY in taxes already. Sigh. [/quote]
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