Tuesday, May 10, 2005

government taking my money...

I've only been working a few weeks, and I have noticed that taxes on my paycheck aren't as bad as I had thought they would be. So far the government has only taken about 14.4% of my paycheck. Out of that Federal is 32.6% of the taxes, Social Security is 36.5%, Medicare is 8.6% and good 'ol Minnesota takes about 22% of those taxes I pay. All in all not bad. It is interesting that Medicare is arguably in more of a crisis than Social Security but the taxes are 450% higher on Social Security.

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