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Originally Posted by lookout123
I'll drop this here since it is somewhat related.
When is someone in the media going to seriously going to explore Obama's middle class tax cut claims? I keep hearing we need to raise taxes on the rich because the poor are paying too much but I don't see any support for the claim.
The reason I ask today is I spent the day working with a couple of accountants on a project and we landed on the subject. We were looking at actual tax returns and here is what I found.
Family of four with $50,000 Net of deductions paid <$500 in federal income tax.
Family of four with $80,000 Net paid <$1,800 in federal income tax.
Family of four with $100,000 Net paid @$6800 in federal income tax.
No one wants to pay any taxes and I understand that, but even at the $100,000 the tax payer is paying less than 10% of their income. They're middle class - should they pay less? $50,000 is certainly middle class - how could they pay any less?
I really don't get it. I've seen different figures stating between 40-50% of the US population pays zero federal income tax so who is Obama talking about when he says the middle class needs a break at the expense of the rich?
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I think, that as most politicians assume, the average voter is not smart enough to figure that out. It is all pandering. Smoke and Mirrors. I stand by the statement, Be careful what you wish for. It will not come without cost.