LogFAQs > #886468941

Those that make about $1000-$1300 a month net, actually pay the least taxes.

Individual deduction drops that by 7k (so say they are making $1300), and you get taxed only 10% on the first 9k or so after that.

So total taxes (not including SS etc) would only be about $900 total for the year (or about 5% of your total income).

The people making between 40k and 200k, usually get taxed the most as far as percentage of total income, and often as far as total amount taxed as well.

I do admit that my friends who make over 200k complaining about having to pay so much in taxes is annoying (complaining when you like your job and bring home after taxes well over $100k...seems wrong to me), but the truth is that many people making many times as much per year, actually pay less total in taxes because of loopholes, reinvesting (which in theory you'll pay taxes on eventually) etc.

Personally think we need to shift the burden a bit more to be honest, and ensure that everyone making over 100k pays a full set amount (30% or so), that you can't loop hole out of. This would allow a larger individual deduction for everyone and reduce the burdeon on those who are just barely getting by. This is WAY better then just raising minimum wage which causes way too many problems.

If you can net a good 24k a year without paying much in taxes at all (first 14k gone from your deduction and next 10k at only 10%), that would actually help those getting paid minimum wage and working a 40 hour week more then boosting the minimum wage, and it would keep prices lower as well.
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