Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: K-oneTexas
Sorry, but in my math world, your 25% computation is in error, assuming the tax rate table you presented is accurate.

The way I understand your example, there are no brackets...

there are two ways to interpret:

from $0 to $7,825 10%
from $7,826 to $31,850 15%

For a $30k income, the tax is either $4500 (wrong, most likely)
or $4108.75 (more likely)

131 posted on 02/16/2008 5:08:43 PM PST by Publius6961 (MSM: Israelis are killed by rockets; Lebanese are killed by Israelis.)
[ Post Reply | Private Reply | To 57 | View Replies ]


To: Publius6961
I was trying to simply show how the percentage rises to the 23/30% total of the FairTax, which includes the S.S. and Medicare. Something which no one talks about.

To be totally accurate you would pay the appropriate percentage for each individual bracket of income, up to what your annual income is. The government takes tax based on the brackets. Then takes again for the S.S. and Medicare.

So now the simple example with a $50,000 income is getting above, way above the 30%. So that now goes to 50% plus the 7.70%. How do you think people really feel?

The Income Tax, Graduated or Flat, can destroy not only productivity but civilization as well. FairTax is the only answer provided to date.
154 posted on 02/16/2008 5:37:32 PM PST by K-oneTexas (I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))
[ Post Reply | Private Reply | To 131 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson