That example is wrong. Exemptions = Yourself + Spouse + Dependents X $12,500
RE: That example is wrong. Exemptions = Yourself + Spouse + Dependents X $12,500
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If so, That would mean the typical family of 4 making $50,000 PAY NOTHING under Rick Perry’s flat-tax.
Which leaves things similar to what they are today -— 47% of wage earners having NO STAKE at all in the government with the other 53% shouldering the burden.
In fact, with the above exemptions, I can even see a family earning as much as $75,00 paying nothing in taxes if their mortgages, state plus local taxes, etc. add up to $75,000.