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Reply to "How do people afford it? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]on a $300k income, half goes to taxes[/quote] Something seems way off if this has been your experience. Our income isn't significantly more and according to TurboTax our effective federal tax rate (with the standard deduction) has usually been around 20 percent.[/quote] Add in FICA and state and you're probably closer to 30%. No idea where pp gets half though [/quote] Maybe they meant just money before take home(federal & state taxes, retirement, medical insurance, etc.)[/quote] If you live in DC you pay 7% in FICA and medicare and 10% in state taxes. Might be less in Virginia.[/quote]
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