GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Republicans Want to Raise Taxes on the Lower and Middle Class

raymor · 09-01-2011, 01:30 PM

Quote:

Originally Posted by bronco67

It would make sense that anyone that makes under $20,000 a year should be exempt from taxes, and the more your income is, the more of a percentage you'd have to pay.

But that makes too much sense.

So you are proposing that nothing changes. Currently, the first $9,000 or more is no. subject to income tax sure to the standard deduction and personal exemption. Through in the earned income credit and/or other credits and many people in the $20,000 range pay negative taxes. That is, their "refund" is more than their withholding. Overall, 51% of Americans pay zero net income tax or less. See:
http://m.theatlantic.com/business/archive/2011/05/51-of-americans-pay-no-federal-income-taxes/238329/

That's why it's impossible to cut taxes on people making less than $15,000.
Since already they pay no taxes, you can't reduce their income tax any further.
Hence, any reduction in tax rates primarily affects directly those who pay taxes, what Obama calls "the rich".