[FoRK] choose your tax plan
owen at permafrost.net
Sun Oct 19 20:03:44 PDT 2008
I don't think "close to -0- tax" is any way accurate if you actually account for all those deductions that aren't federal tax (FICA, state/local taxes). I ran $40k through some payroll calculators and they show that if you include everything most people earning $40k will lose a third to the government. Which is probably nearly identical to what the people making $60k and $80k lose.
From: "HK Pang" <hkpang at gmail.com>
Sent: Sunday, October 19, 2008 10:16pm
To: "Friends of Rohit Khare" <fork at xent.com>
Subject: Re: [FoRK] choose your tax plan
I guess the scale goes like this:
making less than 40K -> drive a corolla
less than 60K -> camry
80K+ -> probably not a Lexus but certain a 6 cylinder accord or a Passet.
But if you run the number thru a 1040 form, the people who make 40K
probably pay close to -0- tax. The 60K people probably pay 10% and the
80K+ probably pay 15%. Under the Obama plan, the 40K people definitely
will have enough tax refund to afford a Camry, which probably cost $50
more on a monthly lease.
On Sun, Oct 19, 2008 at 2:26 AM, Joe Barrera <j3 at barrera.org> wrote:
> On Sat, Oct 18, 2008 at 9:31 PM, HK Pang <hkpang at gmail.com> wrote:
>> But in the US, the difference between well off and poor is more like
>> driving a Lexus vs a Camry. Now Obama wants to 'spread the wealth' to
>> make sure the people driving a Corolla can afford a Camry at the
>> expense of Mercedes owners.
> Wait -- so if the poor are driving Camrys, then who are the ones driving
> Colrollas? The impoverished? Your analogy makes no sense.
> Besides, what I see is the poor are driving 1983 GM Shitmobiles
> with bad gas mileage and worse pollution. Maybe it would be
> better if we could get them into less used Camrys or Corollas...
> but I digress.
> FoRK mailing list
FoRK mailing list
More information about the FoRK