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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (530604)	11/19/2009 9:54:29 PM
From: TimF	2 Recommendations of 1577031

More detail can be found here mises.org Now, I can't speak for Virginians, but in Texas there is a big difference in lifestyle between a family of 3 making $20k and one making $40k. TX doesn't have a state personnel income tax, which improves things a bit for the people in Texas, but all the other factors still apply. The lack of state income tax would make a noticeable difference but not an enormous one. Perhaps the people you know are not taking advantage of all the possible subsidies and benefits they are entitled to. The calculation assumes you don't leave that money on the table. If you aren't taking all the benefits that phase out as your income increases, then an increase in your pay does translate in to actual higher post tax, benefits included income. Another point would be that a family making $40k, on the average would be more intelligent and/or responsible than the $20k family. They might spend their money better, and generally not get themselves in to as many bad situations. They also probably have a better credit rating and pay less on what they borrow.

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