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Ooh please.. They arent trying to eliminate the middle class, they are trying to eliminate policies who create only a rich/poor society and to stop policies which are destrutive to the middle class, and penalize those who are successful due to hard work..
Don't take me for an idiot. I've been paying attention to things ever since Bush lied America into his stupid war in Iraq. The GOP is dissolving America's middle class just as quickly as they can possibly arrange it.
I made 30,000 dollars last year and I paid in about 3,000 in taxes. I got NONE of it back. I thought the bottom fifty percent didn't have to pay taxes?
Many corporations pay ZERO due to loopholes, doesn't that make the rich the freeloaders?
First of all, that's not quite what they say. The poor really don't pay taxes (or very little). Whatever they pay is most likely given back and then some in the form transfers from various government programs (food stamps, subsidized housing, etc).
If you are single and making 30K, you are not poor, but probably are in the bottom 50%. People in the bottom 50% of income earners pay about 5% of the total income tax take (we're not talking Social Security/Medicare). You are paying less in taxes as a % of your total income than people who make more than you as well.
The best way to save on taxes is to put money in a 401K...or set up an Individual Retirement Account if you don't have a 401K at work.
There are not a lot of deductions that a single person making $30,000 a year can use, especially not $7,100 worth.
Standard deduction of $7,100, Exemption of $3,650 leaving a taxable income of $19,250.
The first $8,375 is taxed at 10% or $837 in tax
The remaining amount is taxed at 15% or $1,632 in tax.
$2,469 in tax minus the $400 making work pay credit is $2,069.
Is the "making work pay" credit on the EZ form??? That could be the OPs problem. I know it's on the 1040 form. He should file and amended return (1040X) and Schedule M to get the 400 if it wasn't on the EZ form.
As we recently learned from Republican Senator Kyl; unless a Republican tells you in advance that what he is saying is "Meant to be a factual statement" it doesn'[t count even if it is made on the floor of the Senate. Even then you have to see if their fingers are crossed
I don't see anything wrong with ppl with kids having to lift some of the tax burden off of everyone else. Common sense. Their families use up more of the governements' resources. Why shouldn't they pay more in taxes?
Be careful what you wish for. Those kids are going to be paying for your Social Security & Medicare when you're old (if they still exist). A lot of European countries have had such low birth rates for so long that they are not going to be able to support all the old people.
I don't have kids and never will but they are a net plus for our economy in the long run. I just wish more middle class and rich people would have 'em and fewer poor people had 'em.
The fact is that we (rich and not so rich) are already paying too much taxes. The problem at the moment is that Federal spending is so great that taxes (revenue) is not sufficient. Taxing the workers more will only give the Government a little more money to spend. For example, if the Government just takes for one year every penny the 1% superrich have, the total will amount to $billions. Since the budget deficit is over $trillions, a few billions are not going to make a difference.
Again, the problem is "spending."
Under this logic, presumably low-wage workers aren't paying enough taxes.
So how much should a full time burger flipper earning minimum wage pay in taxes?
Sounds like taxable income was $30K, making a 10% marginal tax rate understandable. Had he had any dependents, he probably would have gotten money back. No credits, and schedules are inapplicable to taxable income.
Under this logic, presumably low-wage workers aren't paying enough taxes.
So how much should a full time burger flipper earning minimum wage pay in taxes?
What if everyone paid 10% of their income? Make $1200, pay $120. Make $12,000, pay $1200, make $120,000, pay $12,000. No deductions, no exemptions, no shelters.
I made 30,000 dollars last year and I paid in about 3,000 in taxes. I got NONE of it back. I thought the bottom fifty percent didn't have to pay taxes?
Many corporations pay ZERO due to loopholes, doesn't that make the rich the freeloaders?
Because they do not.
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