Obama says he’ll cut taxes for 95 percent of American families. The non-partisan Tax Policy Center has figured out what that means for you. Just click on this link, fill in three pieces of information, and get an estimate of your tax cut.
After I did mine (we got back $47 and change), I filled in info for someone making less (single, two dependents, $50,000) and found out she’d get back $613. That sounds fair to me. But then I tried it for a married couple with no dependents making $200,000 and they’d get back $5,856. Huh?
One could argue that they pay so much more in taxes than I do that it’s fair for them to get more back. But if that’s so, then why don’t we get more back than someone earning $50,000? I’m not so much complaining as just … sayin’. Huh?
being single with no kids I don’t get anything back. But at the same income level, if I were married, one income with 2 children, I’d get back about $4,000. I’m trying to figure out why someone with the same income in a single income home and two kids would have paid more in taxes than I would have to start with. Don’t they get deductions for the kids?
Maybe I can find a house husband with two kids to marry me before next year.