And how many times does it have to be pointed out to you that excise, sales and payroll "contributions" are not income taxes? And we have increased the threshold so much that a family making $50,000 can avoid paying ANYfederal income taxes. You, sir are also an ideologue. Now, can we get past the talking points?
Originally Posted by Colonel Jim
Do you agree that all the Bush tax cuts should expire? Or just those on the lower income bracket?
Do you know the difference between a regressive tax and a progressive tax.
Because of the nature of regressive taxes. ie, the poor pay a larger % of their income in these regressive taxes, you even it out with progressive taxes. How can you propose that a family barely scrapping by should pay more, while the very rich (who have gotten much more so in the last thirty years) should pay nothing more. You can not squeeze blood outta turnips.
You sir, do not have a clue as to how the tax system works.
You are talking about welfare. That is a totally different subject than taxation. Again, you do not understand how the tax system works or you would not confuse those two entirely different subjects. It is very hard to have an honest math debate with a person , if that person thinks 2+2=5. That is wtf you are trying to convince me.
Below is hopefully an example you can understand...
http://www.freeby50.com/2008/08/tota...al-family.html
For a family of four with earned income of $60,000 you can expect a
federal tax bill of $2,573. The deduction and exemptions are $10,700 and $13,600 so your taxable income is $35,700. The federal tax rate for married filing jointly on that is $4,573. Plus such a family would get the child tax credit for each child for 2 x $1000 totaling $2,000. So the total tax is $2,573.
The combined social security and Medicare tax rate is 7.65%. So for income of $60,000 you'd be giving
$4,590 to SS and Medicare.
Finding the state & local tax figure is a bit harder since theres 50 states and countless local governments all with different tax systems. Nationally the median tax rate paid by a family making $60k is around 8-9% or
$4,800 to $5,400. However depending on location it can vary a lot from 5% or $3,000 at the low end to 13%, $7,800 for higher tax areas.
So combining the federal tax of $2,573, the Social Security/ Medicare of $4,590 and the local and state taxes of $5,400 you would have a
total tax bill of $12,563 or 20.9% of income.
The typical total tax rate for a family of 4 making $60,000 is about 21%
However given the broad range of tax rates for different state and local governments the rate will vary significantly. With a federal bill of $7,193 and state / local rates from 5% to 13% you are looking at a range of $10,193 to $14,993. That equates to
a range of 16.9% to 24.9% depending on location