- Fatal-shooting victim ID'd; uncle said he tried to break up fight (9/29/16)27
- Driver charged with manslaughter in crash that killed 2 (9/27/16)
- Perryville man arrested for alleged patronizing prostitution, harassment (9/23/16)6
- Perryville High principal on leave; no reason given (9/28/16)9
- Video and evidence largely confirm trooper's claims in April traffic stop shooting (9/23/16)9
- Cape man may lose eye after shovel beating, police say (9/25/16)2
- Animal-rescue group receives grant from rock star for spay, neuter assistance (9/28/16)1
- Monia pleads guilty to 9 counts of financial exploitation of elderly; dealings with murderer Joseph clarified (9/28/16)11
- Woman accused of pushing Wal-Mart employee after theft (9/27/16)
- Planning, design puts renovations of H-H building into hotel on hold (9/26/16)6
Tax cuts benefit all taxpayers
To the editor:
After reading a recent letter about tax cuts, I have to beg to differ with the conclusion that only the rich have gotten tax relief.
The writer said, "A married family filing jointly with a combined taxable income of $56,800 pays 25 percent" and went on with some non-income tax-related stuff on Social Security and Medicare. Actually, every dollar of taxable income above $56,800 is taxed at 25 percent. Income up to $14,000 is taxed at 10 percent. The rate from $14,000 to $56,800 is 15 percent.
In 2003, a married family filing jointly with a combined taxable income of $56,800 pays $7,820 in federal tax (calculated rate of 13.77 percent). In 2002, that same family would have paid $9,132 in federal tax (calculated rate of 16.08 percent). In 2000, that same family would have paid $10,203 (17.96 percent). After doing some other comparisons, it looks impossible for anyone paying federal income taxes to not have benefited from the tax cuts since 2001.