tomdalton22
Senior Member
- Joined
- Aug 6, 2011
- Messages
- 25,284
busting your ass to barely live paycheck to paycheck. So you can get 2 weeks of vacation and have half your check taken by the govt, social security youll probably never see and medical expenses.
not quite half
The median household income in the US is $78,500 which I would assume is "middle class"
At MOST, the taxable income for a coupe earning $78,500 would be $53,700 assuming they don't have any kids.
federal tax liability would be about $6,400
one kid: $4,400
2 kids $2,400
State taxes would run about $3-4K, depending on kids
social security and medicare another $6K
Total tax including social security and medicare for a couple without kids is $16,400 which is about 20%
With 2 kids it's about 15%