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Old 05-27-2007, 08:52 PM  
Jace
FBOP Class Of 2013
 
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Join Date: Jan 2004
Location: bumfuck, ky
Posts: 35,562
Quote:
Originally Posted by GatorB View Post
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?
i am drinking and not speaking right, I agree with you, I just can't say shit right....LOL
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