What bugs me about the system
In one of her replies to a post below, Irk suggested that I not be mad at the system for some people's bad choices in how they handled their money. BUT... I'm not mad at the system for the way my friends piss away their freebie money. I'm just pissed at the system, period.. Check out these numbers (all based on no extraneous deductions):
* 2002 taxes for a single person grossing $50,000: $7,774.
* 2002 taxes for a married couple grossing $50,000: $6,113.
* 2002 taxes for an unmarried couple living together with no children, each grossing $25,000 (i.e., total gross household income of $50,000, but they each get to file single): $2,299 each, for a total of $4,598, which is $1,515 LESS than the married couple with no children
* 2002 taxes for a married couple with two children grossing $50,000: $3,293
* 2002 taxes for an unmarried couple, each grossing $25,000 (i.e., total gross household income of $50,000, but they each get to file single), who each have one one child who they are able to claim as a dependent: $1,249 each, for a total of $2,498, BUT... having each of them grossing $25,000 with one child makes them both eligible for the Earned Income Tax Credit, reducing their taxes by $667 each, making their tax $582 each, for a total of $1164 for the couple.
So what does this tell the American public?
* It sucks to be a single person with no kids.
* If you "live in sin" (according to the "moral majority"), you'll pay less taxes than a couple who "did the right thing" (according to the "moral majority") and got themselves hitched.
* If you throw a couple of "illegitimate" children into the "living in sin" mix, you're set!
I haven't had time to figure out how much a refund would be granted in each situation (when I do, I'll update), but I can guarantee you that the "living in sin with illegitimate children" couple will get quite a bit more back than anyone else.
And the leadership of this country is supposedly all about "morals?" Get married and have a family? Why? What's the incentive for doing that when you can have a kid with one person, then turn around and live with someone else and get a few grand more for your efforts come April 15?
Posted by beenie at March 11, 2003 12:30 PM