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> To get to $7500 in tax you have to have about $47k of taxable income, and hence about $57k of gross income The OP said “most people don’t pay $7500...” which
by usaphp 9y ago
> To get to $7500 in tax you have to have about $47k of taxable income, and hence about $57k of gross income
The OP said “most people don’t pay $7500...” which is not true since I said you have to have “at least 40K+ salary in order to afford that $35k+ car. I did not say you have to have 40k salary to pay 7500$+ in taxes
- bzbarsky 9y agoI admit I don't quite understand. What you wrote was "are making at least 40k / year and owe that much in federal taxes". My point was that you don't "owe that much in federal taxes" unless your salary is at least $57k. I have no opinion on what the actual incomes are of people who buy $35k cars, because I don't have any data to that effect. I'd really _hope_ they all make more than $57k/year gross, but given the weird things people do with debt I'd love to see actual data on this point.
- usaphp 9y agoYou are right, I did not phrase my opinion correctly.