Squashed takes a quick look at the math around paying income taxes:
Because one spouse isn’t working, there is no child care tax credit. There could be up to $2,500 in education credits per child—but let’s say the kids are younger and go with the lower $1,000 child tax credit for both of them. So that’s a $2,000 credit. To owe taxes at this point, you’d need $19,000 in taxable income—or $45,400 in total income.
It looks like its not too hard to not have to pay federal income (note: different from payroll) tax. I won’t ruin the ending where he answers how many hours, at minimum wage, one would need to work to have to pay in.
This isn’t a partisan issue. This is a tax code (largely dictated by interest groups, corporations) so why don’t we all agree we should fix this? Lets stop letting politicians turn us against each other and create a sideshow…
Well put. I’m with you.