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Response to Zen Democrat (Reply #1)

Wed Jan 2, 2013, 10:03 AM

3. The payroll tax cut should expire

 

to maintain the security of Social Security

An EQUIVALENT tax cut should be made for the lower paid so they are not subject to a HUGE tax hike.
Someone who is earning $50k a year is going to pay $1,000 more in taxes a year if nothing is done.

The AMT and expiry of middle class tax breaks are DOUBLE those of the payroll tax hike.
So if nothing is done the people in the range of circa $40,000 to $70,000 are going to see a tax hike of another $2,000 a year.

How do you think the economy is going to fare if people on $50,000 have to pay an extra $3,000 in taxes?
That's about where we stand.

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Arrow 6 replies Author Time Post
Ian62 Jan 2013 OP
Zen Democrat Jan 2013 #1
LineLineNew Reply The payroll tax cut should expire
Ian62 Jan 2013 #3
lunatica Jan 2013 #2
October Jan 2013 #4
Ian62 Jan 2013 #5
Savannahmann Jan 2013 #6
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