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Brad DeLong and CalPundit have both had recent posts on their individual tax situations and it inspired me to do some figuring of my own.
I added up pretty much all the taxes that the missus and I paid in the last year. Unlike Professor Delong, I don't know how much sales tax I paid to the nearest dollar, but I took an educated guess. I was a little surprised by what I found. We paid in taxes about what the average Idaho family earns in a year. But, surprisingly, it worked out to just under 32% of our income.
Is that too much? I must admit, the actual dollar amount seems like a lot of money. However, 32% seems like a pretty good deal to me. I guess tax rates must be almost perfectly defined, though. Even though my wife and I moved into the top 20% for income this year, we don't cross the magical 33% boundary in taxes. Thank God the president isn't proposing any irresponsible new taxes.
posted by Slim at 8:00 PM