2007-09-25 01:20:24 · 4 answers · asked by flutie_flutie 2 in Business & Finance ➔ Taxes ➔ United States
i need to know how much a person living in florida pays for tax. the fair tax may be 23% and if the tax that is paid now is less, then it's not "fair".
2007-09-25 01:22:34 · update #1
i need to know how much a person living in florida with one child 17 years of age pays for tax. the fair tax may be 23% and if the tax that is paid now is less, then it's not "fair".
2007-09-25 01:33:26 · update #2
Around $2100, assuming you're filing as a single person.
2007-09-25 01:30:08 · answer #1 · answered by dardekkis 4 · 0⤊ 1⤋
Forget the terribly named "Fair Tax." It will NEVER happen. Nothing fair about it!
Someone making $13k a year with one dependent child would pay no tax at all and would receive a few thousand in EIC payments.
The "Fair Tax" would cost them about $3,900 a year in taxes as the rate is actually 30%, not 23%. The proponents of it reverse engineer the tax to make their outrageous claim of "only" 23%. Not only are they clueless about low income taxpayers, they're bunch of liars as well. Since they'd lose the EIC, their actual cost would be closer to $6,500! Real fair, huh?!
2007-09-25 02:23:23 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
This person would pay no federal income tax, and Florida doesn't have a state tax. They'd pay 7.65%, or $994.50, for social security and medicare. They would receive around $2747 as an Earned Income Credit.
2007-09-25 03:50:41 · answer #3 · answered by Judy 7 · 1⤊ 1⤋
Actually at $13k and with a child, your effective tax rate would be less than zero due to the EIC.
The "Fair Tax" is very fair.....to the rich.
2007-09-25 01:49:38 · answer #4 · answered by Wayne Z 7 · 1⤊ 3⤋