Quote:
Originally Posted by redneckrider
I guess when Obama gets elected i will quit my job and let the high rollers support me. Maybe have my gf squirt out a couple of kids so we can get a couple thousand more every month....
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"Senator Obama's new and expanded tax credits for low-income taxpayers will certainly cut taxes for low-income people," explains Carroll, "but the credits are mostly recaptured from middle-income taxpayers. During this phase-out range, marginal tax rates shoot up, causing economically damaging side effects.
As a result, for example, a family of four in the $30,000-to-$43,000 range would discover that for every additional dollar they earn, they pay more than 50 cents in income tax." -
http://www.taxfoundation.org/news/show/23727.html
Here's a dyno chart for marginal taxes....
Note the -58% tax rate for people under $15-18,000 and note the deepened "poverty trap". They need a raise to $30-40k just to overcome HIS deepened tax trap.
Spread the wealth! what a crock
the bottom 50% of wage earners already pay only 3% of the taxes.
the top 10% pay 68% of the taxes.
Take away 1% of that top 10% and WHO IS PAYING THE TAXES?
I'm a "
typical white person" and I approve this message.