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Subject:  Re: Is your 401(k) Inadequate For Retirement Date:  8/3/2008  12:30 AM
Author:  ChurchyLaFemme Number:  13778 of 20596

Nope. Low income people already pay enough in payroll taxes to be doubly burdened. As a matter of fact a 4 person household earning $30,000 will pay $2295 in payroll taxes and only $430 in income taxes using the standard deduction.

That's $2725 in total taxes.

By the same token, my wife and I would only pay $1,410 in total taxes at the same income level as all ours is unearned income. There are only 2 of us.

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