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<blockquote data-quote="Mr. Marshall" data-source="post: 4116702" data-attributes="member: 51443"><p>Why does nobody know how the tax system works? Your tax rate is your tax rate based on your total income minus deductions so if you paid too much you will get it back when you file your taxes. They take extra because if this were to bump you into a higher tax bracket you would complain in April when you had to write a check. It that's only 25 percent counting your state rate (if you have one) and the almost 10 percent that is coming out no what for Social Security and Medicare you pay a very low effective tax rate and you should be very pleased. I gave away almost 20k to charity last year and maxed out my 401 and my effective tax rate was still higher than 15 percent Federally. I understand that almost 50 percent of people pay no Federal taxes so it's a shock to the system but if you are one of those people you will see that all back.</p></blockquote><p></p>
[QUOTE="Mr. Marshall, post: 4116702, member: 51443"] Why does nobody know how the tax system works? Your tax rate is your tax rate based on your total income minus deductions so if you paid too much you will get it back when you file your taxes. They take extra because if this were to bump you into a higher tax bracket you would complain in April when you had to write a check. It that's only 25 percent counting your state rate (if you have one) and the almost 10 percent that is coming out no what for Social Security and Medicare you pay a very low effective tax rate and you should be very pleased. I gave away almost 20k to charity last year and maxed out my 401 and my effective tax rate was still higher than 15 percent Federally. I understand that almost 50 percent of people pay no Federal taxes so it's a shock to the system but if you are one of those people you will see that all back. [/QUOTE]
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