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

To: Myrddin

The biggest cuts in marginal tax rates under Bush went to the middle class.


10 posted on 11/29/2007 10:56:06 PM PST by Arthur McGowan
[ Post Reply | Private Reply | To 5 | View Replies ]


To: Arthur McGowan
The biggest cuts in marginal tax rates under Bush went to the middle class.

I know that. The tax cut made my refunds so large that I purchased another house as an investment. My W4 is set at single/0 dependents to compensate for the impact of my wife's income that isn't sufficiently taxed at the marginal rate caused by adding her income on top. I end up paying about $4,000 of her federal taxes with my excessive witholding. If she was taxed at the same rate as I am, she would quit her job. Losing 50% of her income wouldn't make it worth her time. I realize that her income is really subject to that 50% rate, but it isn't as obvious to her when I "cover" the difference. I permit her to work so she will have a fall back if I happen to die prematurely. The mortgage is paid off. The property taxes are far less than local rents for small apartments.

19 posted on 11/30/2007 10:25:08 AM PST by Myrddin
[ Post Reply | Private Reply | To 10 | 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