If he only has $17k in taxable income, how can he be described as “middle class”? If we did have an income based class system, which we do not, that would clearly be considered lower class. The premise of the article is false.
Ah yes, for a dollar he can dream about it. But not with all these higher taxes and the premium increase.
But Joe is a good neighbor and thinks about his friend in the middle class bracket who will pay the $1294 and a bit more with SS taxes going up 30%.
I pulled up a recent return (2008) - mine was less and I’m definitely in the middle class.
Line 43 of the 1040 is labeled Taxable Income. It is the amount after subtracting the standard deduction (or itemized) and the $3500 per person exemptions. After subtracting $10,900 and $28000 ($3500 X 8) I was below $17k.