A question on taxes

[kuulani]

Tax-wise, is it true that its better to be a single parent, than married? Is it also true that they take out less money if you're on welfare?

Than what the hell am I doing working my ass off to keep off of welfare and planning a wedding?

 

[HomeLAN]

Marriage will cost you if you both work. That's becuase the "double" standard deduction doesn't do the right correction for staggered tax rates. I figure being married costs me about $3k on an average year.

They take less money if you make below the threshhold for the "earned income credit" (bascially welfare without the stigma). Most people on welfare who actually have jobs fall below this threshhold, thus the myth of welfare recipients getting breaks.

 

[Gonzo]

You're planning a wedding & staying off welfare because it's the right thing to do...it is costlier to be married with 2 incomes.

 

[Huge]

Marriage will cost you if you both work. That's becuase the "double" standard deduction doesn't do the right correction for staggered tax rates. I figure being married costs me about $3k on an average year.

They take less money if you make below the threshhold for the "earned income credit" (bascially welfare without the stigma). Most people on welfare who actually have jobs fall below this threshhold, thus the myth of welfare recipients getting breaks.

I thought they fixed that?

I doubt I'll ever get married though...

 

[HomeLAN]

No, they didn't fix that.

That proposal died in committee.