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@ freely; small correction to your math.

Assume the 40K salary (sounds high) and 1/3 of the 2800 jobs (about right)

Tax would be more like

40K= (6% of 30,000 + $400)=2300 a year x (1/3 of 2800) so more like 2,145,900 in taxes, no?

If anything, a powerful argument for bumping the exemption up to 50 or 60K and raising the higher rates a bit more. 40K would be tough to live on.

by charlie on Jun 28, 2011 10:38 am • link • report

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