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Not a single one of us writes a check to the IRS and enjoys the privilege of doing so, but for now, that’s the way life is. There’s a pretty good chance taxes would be a lot lower if people realized how much money they were giving to the government between local, state, and federal tax burdens. There’s property taxes, income taxes, sales taxes, permits, fees, and the like that we all have to pay to keep the government running.

In addition to the 5.8% tax on Medicare between you and your employer, and the social security tax rate of 12.4% between you and your employer, you have to pay federal income taxes. Most of us will be doing our taxes pretty soon if we haven’t done them already, and here’s how much you’ll get to pay in federal income tax for 2007.

Single Filers:
Income between $0 – $7,825 – 10%
Income between $7,825 – $31,850 – 15%
Income between $31,850 – $77,100 – 25%
Income between $77,100 – $160,850 – 28%
Income between $160,850 – 349,700 – 33%
Income above $349,700 – 35%

Married Filing Jointly
Income between $0 – $15,650 – 10%
Income between $15,650 – $63,700 – 15%
Income between $63,700 – $128,500 – 25%
Income between $128,500 – $195,850 – 28%
Income between $195-850 – $349,700 – 33%
Income above $349,700 – 35%



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