Quote:
Originally Posted by Jace
wow, where do you live that people that make under $50k don't pay taxes?
most of the low income friends I have end up paying MORE than the upper class people I know....when my lower class friends end up paying 35-45% every year, the upper class end up paying 15-20% because of crafty accounting
the tax system is totally fucked, and it is not favoring the lower class ONE BIT
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Where did I say they pay no taxes? We're talking about INCOME taxes spefically. And the highest income tax rate is 35% and you have to make over $320K to get into that bracket.
here's some simple math. man wife 2 kids $50K income.
Marrid filing jointly $10,300 dedection.
$3300 for every dependant which includes yourself
4X$3300 is $13,200.
Total deductions $23,500.
Income subject to income tax $26500
Amount of income taxes $2774,
but wait there is also the Child Tax Credit. $1000 per child 2 children=$2000
$2774-$2000 = $774 owed in taxes.
$774 of $50k = 1.5% of income goes to paying federal income taxes.
Same man but only makes $25,000
$0 owed in federal income taxes and recieves $2800 check for earned income credit
Are you saying in each case they be better pay paying 23% sales tax?