WARNING: Participating in the below activity can lead to increased blood pressure, frustration, and possibly anger.
Have you ever given much attention to the deductions from your paycheck?
Here’s what I know. If you don’t personally pay the bill and an expense is paid out of your paycheck before you ever receive it, chances are REALLY HIGH that you will be shocked to discover how much you are really paying!
I challenge you to pull up your paystub from the last paycheck you received in December 2010 and look at how much has been taken out BEFORE you ever received the check.
How much did you pay last year for:
- Federal Income Tax
- Social Security Tax
- Medicare Tax
- State Tax
- Local Tax
- Insurance Premiums
Now take those amounts and divide them by how much you were paid last year. What percent of your pay was taken out to pay for taxes and insurance? After you have taken your heart medicine, would you mind sharing your percentage in the comments?