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If you're single you'll fall into either the 15% or 25% bracket depending on how much you make.
If you're married and filing jointly you'll fall into the 15% bracket.
That may be true if only one works or if one has a low paying job, add a little pro-creation in there and you pay less.
Checkout the marriage penalty. If a two income household, both working, both making decent money, that married couple gets nailed with higher taxes because of stacking of income sometimes putting them into a higher tax bracket... i..e
The more the household brings in, the more the government takes. Kind of makes marriage less attractive.
Tax laws are written by the politicians. Subsidies, tax breaks, loopholes are given to favored constituents by politicians as part of their fundraising for campaigning and to garner/buy votes.
Do you honestly think politicians will give up that power to pass a flat tax? I don't. Even the politicians who complain about the inequity in tax laws happily accept federal funds to build bridges to nowhere, unused airports, or military equipment.
Exactly, so the useful idiots just support giving them more of our money <sarcasm> Get my point?
Middle Class is a tough place to be, especially now with the Unaffordable and I don't Care Act. My daughter makes just enough to miss out on subsidized plan so her health plan which was great before Obamacare became a plan too expensive and too high of a deductible for her to continue using medical care under Obama I don't Care. So she either had to work less and qualify for the goodies give away or work more to make enough to afford the now much more expensive health care. She decide a month ago to go in business for herself so she can probably get enough deductions to qualify for subsidized....the one thing she couldn't do was stick to what she had been doing as her career for the 7 tears before Obamacare.
Yes, some employers will attempt to screw over their workers and find a loophole but the vast majority of employers will adhere to the new ways of doing things. Employees will either get paid more or they'll be working only 40 hours..
Most people who work under the management umbrella as a salaried employee adhere to the "professional workweek" which is 45 hours. I guess that is now out the window if the company now has to pay for the extra 5 hours. Since salaried people don't punch a timeclock I suppose you will have to have your time monitored more closely. No more doing errands during lunch or leaving early. Salaried people are paid for what they do, not how long they are "on the job". Work comes in waves. It is not constant for managers.
Originally Posted by Retroit View Post
The Middle Class gets plenty of subsidies: mortgage interest deductions, child tax credit, free public schooling, etc.
Quote:
Originally Posted by PedroMartinez
I'll pitch in to buy you a dictionary if you'd like.
Retroit is the type that Gruber was talking about... the Obama supporter.
“exploitation of the lack of economic understanding of the American voter.”
-- Gruber
Why can’t the government just simplify the tax code so that the average person can understand it? Why keep a tax code in place that, intentionally or penalizes the poor and the middle class, the very people who depend on income.
Most kids aren’t prepared to go to work after they finish high school. A college degree is being pushed as the ticket to a better life. For some kids, that just means four more years of educational expenses without income.
Until the government realizes that quite a bit of its red tape, rules, regulations, and laws are not in the best interests of the people, it will continue to keep poor people poor and the middle class trapped.
Well, that’s a good question. The tax code needs to be simplified in my opinion. The complexity has gotten out of hand. The biggest benefactors of our current tax codes are business owners. If you’re not writing off, and getting your full deductions, you’re not benefiting to the fullest. The tax code isn’t really penalizing the poor and middle class, it’s penalizing people that work for someone else for a living.
As for the complexity, our system of government is setup to need progressive taxation. You hear a lot of hooting & hollering about flat rates, but that doesn’t work in a regulated free market system. Flat taxation is for a libertarian type of government. And what libertarians won’t tell you is their form of government is a fantasy. There isn’t even one example in the world of a decent sized country running this type of system and prospering.
So yes, we need to simplify the tax code, but it shouldn’t involve flattening the tax rates.
Middle Class is a tough place to be, especially now with the Unaffordable and I don't Care Act. My daughter makes just enough to miss out on subsidized plan so her health plan which was great before Obamacare became a plan too expensive and too high of a deductible for her to continue using medical care under Obama I don't Care. So she either had to work less and qualify for the goodies give away or work more to make enough to afford the now much more expensive health care. She decide a month ago to go in business for herself so she can probably get enough deductions to qualify for subsidized....the one thing she couldn't do was stick to what she had been doing as her career for the 7 tears before Obamacare.
Exactly, your daughter doesn't make enough but makes too much.
This is the same way they keep the poor in poverty. They give subsidies but if they try to make an honest living, the more money they make the subsidies are taken away. It's a whitewash, it only encourages them to keep getting government handouts.
Well, that’s a good question. The tax code needs to be simplified in my opinion. The complexity has gotten out of hand. The biggest benefactors of our current tax codes are business owners. If you’re not writing off, and getting your full deductions, you’re not benefiting to the fullest. The tax code isn’t really penalizing the poor and middle class, it’s penalizing people that work for someone else for a living.
As for the complexity, our system of government is setup to need progressive taxation. You hear a lot of hooting & hollering about flat rates, but that doesn’t work in a regulated free market system. Flat taxation is for a libertarian type of government. And what libertarians won’t tell you is their form of government is a fantasy. There isn’t even one example in the world of a decent sized country running this type of system and prospering.
So yes, we need to simplify the tax code, but it shouldn’t involve flattening the tax rates.
What liberals tell you is fantasy.
The tax code penalizes the middle class and small business owners, anyone who depends on income and can not manipulate it to take advantage of the tax code. The uber rich who don't depend on "income", who can control the source of income, who control how much income. Do you know that the rich can even get Obamacare subsidies but many in the middle class gets to pay higher premiums, higher deductibles? ... Income
Small business owners must report all profit on their personal taxes, this includes money that must be kept in the business for operations and investment. Since sm business owners have to pay taxes all money, should they withdrawal all the money is the employee willing to wait until the company makes enough to pay them?
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