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To: entropy12
Actually, People making less than $50,000 pay plenty in social security tax. Aprox 13%. They should be exempt from federal income tax.

Households with an adjusted gross income (AGI) less than $50,000 comprised about 80% of all US households in 2012. So, I think your threshold is a little high.

If you were to choose $36,000 as your threshold instead, that was about the median household income in 2012. So, 50% of households had less, 50% of households had more.

If you look at the group with less than $36,000/year, their average individual income tax rate was 3.28% in 2012. So, they were very close to zero. The next 10% (50th to 60th percentile) paid as much income tax as the entire bottom 50%, despite earning only half as much total AGI.

40 posted on 11/02/2015 4:17:04 PM PST by justlurking
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To: justlurking

That’s all? Only $50,000 household income in 2015?
Heck I made that all by myself in 1986.


63 posted on 11/02/2015 9:27:26 PM PST by entropy12 (DEPORT ALL ILLEGALS or it is Amnesty! Only Trump has no rich donors pushing for cheap labor express)
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