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#11 |
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changed his status to single
Join Date: Apr 2004
Location: Right behind you. No, the other side.
Posts: 10,308
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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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