I started my first real career at the beginning of June. Work has been great and I am excited about taking full responsibility in my management position after 6 more months of training.

I just received my first paycheck in the mail today. I was astonished to see how much money the government takes from you in taxes. Holy crappo!!!!

I admit that I’m fairly liberal and I do believe in contributing to society, but DAMN! Having worked in state government for a year, I know for sure that there are several inefficiencies in how our system operates. To see how much money is taken from me, I can’t help but wonder where it is going. An itemized list of government spending would be nice…

Stuff like this makes government all the more relevant in my life…

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5 Responses

  1. Michael V.

    June 26th, 2007 at 12:03 pm

    1

    Have you thought about getting a W-2 for tax withholding? That way, you’d be able to use the money to make more money instead of the gov’t using it to do just the same! =)

  2. Dennis

    June 26th, 2007 at 5:21 pm

    2

    what is that and how do i get it??

  3. Wanda

    June 28th, 2007 at 2:20 pm

    3

    I think you can go to the HR and ask to adjust your W-2’s. I’ve decided to aggressively contribute to my 401K when I start work later this year… so I can shield some of my income from taxes right now.

  4. ambellamy

    July 8th, 2007 at 10:29 am

    4

    Dennis-

    if you do decrease the amount of money they take out, remember to save at least 15% of your Net monthly income [or whatever tax bracket you fall into] so when tax season does come… the money isn’t gone…

    I’d recommend sticking it in a high yield savings account [emigrant Direct, or ING Direct are very user friendly] … and then just spend the interest you earned off of it… (but you will have to pay taxes on the interest earned)

    by allowing the government to dock your taxes through out the year, your giving them an interest free loan. for next year i’m going to try and change my W2 withholding because “i claim zero” right now and they take out a crap load.

  5. Finance Matters

    January 9th, 2008 at 10:43 pm

    5

    Yes the trick I think is to find out the exact number of decutions so that you break about even each year. Don’t use the government as a savings account. BTW great site love the design.


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