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Sun Nov 29, 2015, 01:12 PM

 

What is your Tax Rate plus Healthcare Cost annual Rate

Last edited Sun Nov 29, 2015, 01:49 PM - Edit history (1)

Real Simple

Take your Tax Rate -
If you use HR Block, Turbo Tax or one of the many other services they'll give you a % of your annual income paid to taxes, State and Federal. For those of us that use CPA of tax professional try and guestimate what portion of your annual income you actually paid to taxes

Then add -
your Monthly Healthcare Cost x 12 months for an annual Healthcare cost. If your employer requires a 50% contribution towards Healthcare cost and you have $100 taken out of your weekly paycheck your Healthcare cost would be 4 x $100 x 2 to equal 100% of the cost of the plan


This is your Tax Rate PLUS Healthcare. It doesn't take into consideration additional cost of Co-Pays or denied coverage cost which is some thing you would not have under Single Payer. Nor does it take into account sales tax, gasoline tax, or property taxes, although these can be deductions on your Federal Taxes.

I've long felt for what we pay in total cost we are being ripped off.

example: Last year I was Taxed at a combined rate of 24%. Additionally I paid 6.2% of my annual income in Healthcare cost. - the combined rate equals 30.2% of my annual income

enjoy ..
1 vote, 0 passes | Time left: Unlimited
16% State and Federal Taxes and Healthcare Cost
0 (0%)
19% State and Federal Taxes and Healthcare Cost
1 (100%)
21% State and Federal Taxes and Healthcare Cost
0 (0%)
24% State and Federal Taxes and Healthcare Cost
0 (0%)
27% State and Federal Taxes and Healthcare Cost
0 (0%)
30% State and Federal Taxes and Healthcare Cost
0 (0%)
32% State and Federal Taxes and Healthcare Cost
0 (0%)
35% State and Federal Taxes and Healthcare Cost
0 (0%)
Greater then 35% State and Federal Taxes and Healthcare Cost
0 (0%)
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7 replies, 1069 views

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Replies to this discussion thread
Arrow 7 replies Author Time Post
Reply What is your Tax Rate plus Healthcare Cost annual Rate (Original post)
FreakinDJ Nov 2015 OP
tazkcmo Nov 2015 #1
FreakinDJ Nov 2015 #2
tazkcmo Nov 2015 #7
Hoyt Nov 2015 #3
FreakinDJ Nov 2015 #4
Downwinder Nov 2015 #5
FreakinDJ Nov 2015 #6

Response to FreakinDJ (Original post)

Sun Nov 29, 2015, 01:23 PM

1. This crap again?

Single payer would be ok if Sec Clinto was for it but she's not so it sucks. Case closed.












sarcasm

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Response to tazkcmo (Reply #1)

Sun Nov 29, 2015, 01:25 PM

2. How about kicking your estimated rate

 

I think the truth exposed reveals the best answers

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Response to FreakinDJ (Reply #2)

Sun Nov 29, 2015, 01:33 PM

7. We already know the truth.

It's settled. Single payer is the most affordable and efficient way to do healthcare. But in America it's not about common sense, it's about cults.

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Response to FreakinDJ (Original post)

Sun Nov 29, 2015, 01:26 PM

3. I'm interested in outcome, but what are "health care costs" -- does it include premiums

(which may not include employer share if working); why doesn't it include copays or denied coverage (which you will have under single payer)?

I agree we are being ripped off, and would like to see the results. But, I don't think this will tell us much. Heck, the most expensive people in terms of health care are probably too sick, in a nursing home or other facility -- or comatose -- to respond.

Again, I get what you are saying about our system -- it sucks.

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Response to Hoyt (Reply #3)

Sun Nov 29, 2015, 01:27 PM

4. Yes of course "Premiums" negotiated or out of pocket are cost

 

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Response to FreakinDJ (Original post)

Sun Nov 29, 2015, 01:30 PM

5. No match

0% Income tax rate
8% Sales/use tax
30% Health care.

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Response to Downwinder (Reply #5)

Sun Nov 29, 2015, 01:33 PM

6. I would put that as 30%

 

I didn't try to add Sales Tax in the survey

on edit:

Very interesting is my Tax Rate is based on an income of 250K annually plus my cost for Health Insurance. Your rate includes 0% State and Federal Taxes and yet at the end of the day we pay the same rate

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