Thursday, December 9, 2010

Taxes

I was in favor of the tax compromise that Congress is working on until I read this.

If you are single and make less than $20,000.00 you will pay MORE in taxes under the proposed bill next year than you paid last year. Also, if you are married and jointly make less than $40,000.00 you will pay MORE.

Median income in the US is $50,000.00 so a lot of people (the working poor) are really going to be screwed by this.

I'm definitely not in the "only rich people should pay taxes" camp, but it just doesn't seem right that the only group of people taxes are going UP for is people barely making a living wage.

By the way, under the current proposal, I would benefit from the changes (which is why I was originally in favor of it)

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