To: edcoil
Remember one of the Bush tax cuts for the WEALTHY was the removal of the Marriage tax penalty. Its returning to a 1040 near you. If one spouse is still working and one is on SS there is a marriage penalty. In olden times SS benefits used to be taxed at 50%, now the are added to ordinary income at up to 80%.
barbra ann
15 posted on
08/26/2010 12:47:01 PM PDT by
barb-tex
(Nov. 2!(Election Day) Dia de los Muertas. ( Day of the Dead), Them or Us. Nov 5, Guy Falkes Day)
To: barb-tex
My 80 year old father and 77 year old mother who still work will be overjoyed.
18 posted on
08/26/2010 12:51:37 PM PDT by
massgopguy
(I owe everything to George Bailey)
To: barb-tex
Its returning to a 1040 near you. If one spouse is still working and one is on SS there is a marriage penalty. In olden times SS benefits used to be taxed at 50%, now the are added to ordinary income at up to 80%.”””
I predict a rash of divorces, where the partners continue to live together & then file separate 1040’s.
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