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Reply #7: Why should they? [View All]

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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-24-10 01:22 PM
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7. Why should they?
Edited on Fri Dec-24-10 01:25 PM by Statistical
Family income of $50K to support 4 people is pretty tough. Not impossible but hardly rich and not even US median income.

Of course they still pay payroll taxes, excise taxes, telecom taxes, real estate taxes, sales taxes, and possibly state income taxes.

People forget that when the income tax was first enacted it was a tax on the top 5% of Americans. In 1913 the personal exemption was $3,000. That is $59,200 in 2010 dollars. So using income tax system of 1913. The first $59,200 x 4 would be tax free.

Kinda sad we went from a personal exemption (tax free income) of $59,200 to $3,650 and people think the middle class isn't paying enough.
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