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Originally Posted by Jace
wow, where do you live that people that make under $50k don't pay taxes?
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40% of our country pays zero income tax. If you make under 50k and have a wife and kids, you won't pay a lot. Take out the $20k in exemptions off the top, add in cuts for college fees, child credits, earned income credit, 401k, and mortgage interest and in many cases they can be down to no tax liability quickly.
Quote:
Originally Posted by Jace
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
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I don't see how they are. We have a progressive tax system and low income friends should be in the lowest tax brackets. I'm sure there are some upper class people who can get their taxable income down with crafty accounting, but there is sometimes only so much you can do. 91% of people making under $30,000 a year pay no tax.
Quote:
Originally Posted by Jace
the tax system is totally fucked, and it is not favoring the lower class ONE BIT
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How can you say that? The top 5% pays in over half of all income tax. 40% of the country doesn't pay a dime in taxes. How is that screwing over the lower class?