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I found myself this weekend staring at my tax returns, before filing them and forgetting about them. So I dug-out last year's as well, to make a quick comparison. I'll admit that I was a bit surprised at what I found.
First: I made about 14%k LESS in '18 than in '17. Not a surprise to me, but disappointing to see it in hard cold numbers.
in '17, I paid 26% in federal taxes on my calculated "taxable income", which equated to 16.5% of my total income.
in '18, I paid 17% in federal taxes on my calculated "taxable income", which equated to
12.5% of my total income.
So I guess where I SHOULD be looking, if I were to be philosophical about it, is this: while I earned 14% less in '18, i paid fewer taxes, narrowing the delta in my actual cash-in-my-pocket to only an 11% reduction. ::sigh::
I hate math.
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