From: Randy (cryofan@mylinuxisp.com)
Date: Mon Jul 08 2002 - 01:38:35 MDT
On Sun, 7 Jul 2002 23:30:31 EDT, you wrote:
>Someone said:
>"Well, my biggest gripe with taxes is that those "teeny slices" add up to
>over 60% of my income!"
>
> Let me offer an example from the other end of the spectrum. I am
>studying accounting and this semester I am doing a course in payroll
>accounting. The problems we work on are fictious in that the names are made
>up. But they are "live ammunition" in that the conditions are entirely
>typical of what we will see in practice.
> Last week we did a paycheck for a woman with two children that made
>about $15,000 per year. She is making so little that the law says she gets
>an income credit against her taxes.
> My point is this: after paying state taxes, local taxes, FICA, health
>tax, etc. she was still paying more than such a person could afford. But
>what was worse was realizing that the small break she got on her income taxes
>was strictly window dressing for political purposes. Work it out for
>yourself and take a look.
> Now, someone will question whether I am advocating "soak the rich" to
>the advantage of the poor.
So what would be so wrong with that?
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