Tax Time SUCKS!!!!!!

[Tony]

So I just did my taxes for last year. How in the HELL do I pay more than I make!!!!!!!!! I'm about done with all this business crap. It's easier to just have a damn job. Just a little hint at what's to come......

 

[Smoggie]

I think it works a little differently over here in that most people don't need to do tax returns, they just take it off you every month... but your eyes would really water if you had to pay our taxes

UK tax system:

• Employers national insurance = 10% (this is a tax on employers for employing someone and comes off before the employee even sees the top line of his pay slip)
• Employees national insurance = 10%
• Pay as you earn tax = sliding scale starting at 20% and going up to 45%

So that's averaging at about 50% deductions from earnings, then you have to spend what's left and they tax you on spending too.....:

• VAT = 20% Purchase tax on everything you spend
• 'Special taxes' = Things petrol (gasoline) get a special tax of about 70% added, Car tax, TV licence, house sales and purchase taxes... you name it

Best just not think about it

 

[EyeStation]

I didn't do so bad this year. Being off work for 90 days with a broken ankle dropped me from a 24% tax bracket down to a 13% one.
Seems I'll still have some money left after a new laundry cleaning system gets purchased.