If you're happy with that.....God bless you. Tell me, though....do you employ anyone? In the US, the vast majority of employers come from the private sector. If I'm taxed at those rates (the ones you cite), what's my incentive to hire employees (if, indeed, I can afford to)? I certainly hope our government doesn't take such a short-sighted approach (i.e. removing tax credits).
Franco, over here we do have a pay as you go plan. There is withholding on all wages earned for both income taxes, federal and state, and social security taxes, which are 7.65% from the employee and 7.65% from the employer. Those that do not have wages will pay, or I should say, should pay estimated taxes due at various times through out the year. One of the big falacies of our system is that we reward companies for putting jobs overeas and we penalize them for putting jobs here in the US.
