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Sun Nov 29, 2015, 02:12 PM

 

What is your Tax Rate plus Healthcare Cost annual Rate [View all]

Last edited Sun Nov 29, 2015, 02:49 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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Reply What is your Tax Rate plus Healthcare Cost annual Rate [View all]
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