Back in India, even if you are in a 12 lak per annum pay package - you can still manage to pay something under 40,000 INR as tax.
Here in the USA - there is no way your getting off that easy. The taxation system is so damn unfair.
The last 2 pay cycles - I've been taxed at 35% flat. I mean - I look at my payslip and the only thing I want to do is cry !
Right at the top you see some number under the head Nett Income
(trust me when I say - its not even "market" standards. But, in this economy - I'm lucky to have a job even!)
Immediately below that under the head federal taxes - they take out a sizeable chunk.
Immediately below that - the head State tax takes out a smaller but still a sizeable chunk.
Immediately below that - Social Security takes out an equally large bite.
Immediately below that - Medical Care takes another sizeable chunk.
Immediately below that - City Tax takes a small but noticeable bite of the meal.
End of the day - I end up with nearly half of my salary taken away under the name of some tax or the other.
I think I'm going to go drink my depression away ... What else can I do !!!
Booooooooooo hooooooooooo ... I want my Mommmmmmmmmmmmmmyyyyyyyyyyyyyyyyyyyyyyyyyy !!!
Tuesday, December 22, 2009
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