2022 Taxes

Looks like I missed the tax update in 2021.  I guess the 2022 graphs will help catch you up on 2021 as well.  In 2021 work promoted me to a Principal Engineer, which meant a noticeable increase in salary.  Last year was also a good year for the bonus at work, and Uncle Sam hasn't been shy about claiming his part of the pie.  I just finished filing my taxes today, and I noticed that the federal income tax I paid this year was equal to the amount of my starting salary as an engineer 20 years ago.  I am thankful that I'm doing well financially, but it also makes me wonder how many people that amount of money is supporting as it gets redistributed.  When I was looking at the numbers today, the amount of money I pay for healthcare and all of my insurance is quite small when I compare it to what I pay in taxes.

Here are a few illustrative graphs for you.

When I graph it in actual dollars instead of as a percentage of my income, that's when you can see how dramatically the increase in federal income tax has been.

There won't be any bonus for 2023, so that line should take a nice dip next year hopefully.  I hope you find your tax results this year interesting too.  Make those graphs!