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  1.    #1  
    Nearly half of US households escape fed income tax

    This should make you mad no matter what party you align with.

    Those stats are on the IRS website.

    SOI Bulletin article - Individual Income Tax Rates and Tax Shares, Table 5

    Scroll to the bottom to the section called Total income tax share (percentage)

    So, why do we need to tax the rich more? They already are taxed more.
  2. groovy's Avatar
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    #2  
    We're so nice.

    The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment.
  3. iMando's Avatar
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    #3  
    The real problem is 1% control 97% of the wealth. It's an outrage 47% even have to pay.
  4. groovy's Avatar
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    #4  
    Quote Originally Posted by iMando View Post
    The real problem is 1% control 97% of the wealth. It's an outrage 47% even have to pay.
    That's actually not true. I believe its more like 32% and heading downward.
  5. concept2's Avatar
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    #5  
    Quote Originally Posted by iMando View Post
    The real problem is 1% control 97% of the wealth. It's an outrage 47% even have to pay.
    What are you crazy? Everyone in America should pay taxes. It would be great if their was a flat tax. That would be fair for everyone.
  6. #6  
    Quote Originally Posted by concept2 View Post
    What are you crazy? Everyone in America should pay taxes. It would be great if their was a flat tax. That would be fair for everyone.
    Sorry no. It sounds fair but there's a point where having a low income family pay taxes is not very bright at all.
  7. #7  
    everyone who works pays taxes the returns are just credits cuz they took too damn much
  8. #8  
    We tax achievement in this country to help perpetuate mediocrity. Our tax code has been written to make many wards of the State. That's not to say it is entirely heartless. Many feel that redistributing wealth from the "have's" to the "have not's" is their way of being charitable. It is also true, however, that a great many people feel that achievement of any kind is only attained at the expense of the poor and as such they should be taxed to equal the playing field.

    We can't entirely characterize the poor amoung us as "non tax-paying" or parasites. Even the poor consume and thus pay local taxes that keep your city/locality working. To say that the poor do not pay their fair share is a little misleading. Show me one person who buys a soda that doesn't pay a tax.

    A flat tax would be a way to maintain equality in the tax code, though we would be kidding ourselves to believe that the flat tax would turn into anything other than the rich pay the flat tax and the poor receive credits. This is not going to change.
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  9. mk3
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    #9  
    Wish I didn't have to pay taxes.
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  10. #10  
    I wonder what percentage of those people actually get earned income credit so they get thousands in Fed returns without paying?
    What was Obama's approval rating?

    Real Clear Politics Poll
    Job Approval Approve Disapprove
    Obama 47.1% 46.6%
  11. #11  
    I see lots of people complaining about how the rich are taxed more. the thing is if you make less than 250k a year you aren't even in the rich bracket. chances are you aren't even close to the 250k/yr bracket. and even if you are, the higher taxes only kick in on whatever you make after 250k. you're paying what everyone else pays below that..

    and 250k a year is pretty significant, to give some perspective, a shopping center with 12 fully rented stores generates about 250k in a year. and the price of a shopping center with 12 stores is in 3-5 million dollar range. most people are not in that position and should not be complaining.. seriously who cares if they get taxed more?
    Last edited by badjokes; 04/10/2010 at 05:43 PM.
  12. #12  
    Quote Originally Posted by Flak1969 View Post
    I wonder what percentage of those people actually get earned income credit so they get thousands in Fed returns without paying?
    Someone correct me if I'm wrong but the EIC can only offset paid Fed taxes.
  13. #13  
    Quote Originally Posted by daThomas View Post
    Someone correct me if I'm wrong but the EIC can only offset paid Fed taxes.
    Not entirely true, because you can get the EIC even if you have child or other credits that make your tax liability zero.
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  14. #14  
    Quote Originally Posted by pogeypre View Post
    Not entirely true, because you can get the EIC even if you have child or other credits that make your tax liability zero.
    I think you need to show some proof if you're going to make a statement like this.

    I have 2 children and my tax liability has never been zero. I'm not in the official "poor" category, but I'm not a heck of a lot over it. Every year I pay a fair amount more than I ever get back.
  15. #15  
    Quote Originally Posted by thekarens View Post
    I think you need to show some proof if you're going to make a statement like this.

    I have 2 children and my tax liability has never been zero. I'm not in the official "poor" category, but I'm not a heck of a lot over it. Every year I pay a fair amount more than I ever get back.
    It bears repeating that I am referring to zero liability on Federal Income Tax. You will never have a total zero liability because you will always pay into Medicare and Social Security.

    Now, from time to time due to credits received, your Income Tax liability will be zero, after which you can receive what amounts to be a refund for the EIC.

    From the IRS.gov site...

    When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.
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  16. #16  
    Quote Originally Posted by daThomas View Post
    It sounds fair but there's a point where having a low income family pay taxes is not very bright at all.
    Fair enough...although he may not have elaborated on it, I think that concept2, and most flat tax advocates would still agree with that.
  17. concept2's Avatar
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    #17  
    everyone should pay 17% no matter what you make. No credits. I pay about 30% now, but with a flat tax, some interest write offs should eliminated so it's fair.
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    #18  
    I paid over $6,000 in taxes last year and got $600 back before schooling credits. Even though I did get money back I still paid my taxes, I only get back what I overpaid.
  19. #19  
    Quote Originally Posted by concept2 View Post
    everyone should pay 17% no matter what you make. No credits. I pay about 30% now, but with a flat tax, some interest write offs should eliminated so it's fair.
    So apparently you like creating government workers?
  20. Queueyou's Avatar
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    #20  
    Quote Originally Posted by daThomas View Post
    Sorry no. It sounds fair but there's a point where having a low income family pay taxes is not very bright at all.
    Yeah, because a low income family can't use things like welfare / medicaid / foodstamps / etc. Please... A flat tax is fully fair. At the BARE minimum, they should NOT get money back from taxes beyond what they paid in. You shouldn't get more than you put in, it just makes no sense. I mean hey, I like the idea personally, but on a large scale, it's the government being robin-hood, quite literally. At least they can make a profit off the 'interest' or lack of needing to take a loan out during the time they hold the cash till you get what you paid back in.
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