22 February 2013

Minimum Wage Follow Up: "Family"

From yesterday's post:
Merely mentioning the word "family" is a pathos missile that politicians fire indiscriminately at us, since they know it will bypass our prefrontal cortices to explode directly in our amygdalae in a shower of warm-and-fuzzy feelings. People have got to start seeing through this.
This applies to both Red Team and Blue Team.

Russ Roberts links to an excellent older post by Keith Hennessey that gives a great example of this.
Keith Hennessey | Why do so many Americans pay no income taxes?

Many Republicans and conservatives argue it is both unfair and politically dangerous to have (almost half / more than one-third, depending on who’s measuring) of Americans not owing any income taxes. [...] I wonder how many Republican Members of Congress remember that they are, in large part, responsible for this outcome? [...]

But most of the increase since the mid-1990s in the number of people who owe no income taxes is the result of the child tax credit. This policy was created by Congressional Republicans and expanded with Republicans in the lead.

The nonpartisan Tax Foundation has measured the top nonpayer threshold. This is the highest income taxpayer that owes no income taxes, setting aside unusual tax situations. They looked at how the top nonpayer threshold changed from 1993 to today for a married couple with two kids.

In 1997 every “normal” married couple with two children that earned $24,000 or more (in today’s dollars) had to pay at least some income taxes. The top nonpayer threshold for a family of this size was just under $24,000. This means there were some four-person families with income just below $24,000 that owed no income taxes. [...]

In 1997 every “normal” married couple with two children that earned $24,000 or more (in today’s dollars) had to pay at least some income taxes. The top nonpayer threshold for a family of this size was just under $24,000. This means there were some four-person families with income just below $24,000 that owed no income taxes.
Do you see what happens, GOP? Do you see what happens when you run around DC justifying absolutely anything because of "The Children!"? Nothing Good!!

No comments:

Post a Comment