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When I was squarely middle class I normally didn't pay more than about 5k in annual federal income taxes. That's pretty reasonable. It's also hard to cut a nu
by jki275 8y ago
When I was squarely middle class I normally didn't pay more than about 5k in annual federal income taxes.
That's pretty reasonable. It's also hard to cut a number that small.
When you get into paying 50k, 100k+ in taxes, then a percentage tax cut will appear much larger.
I know plenty of people who have about 2k withheld throughout the year and then get 5k-15k "refunds" at the end of the year. That's what I was referring to with the xbox and tv comment, those refunds are often spent that way.