Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I would assume that this is OK because it isn't the earned income credit.
A couple of points from the article you linked:
- 76 million eligible Americans had no federal income tax liability. The few thousand mentioned in the article is approximately 0.02% of that amount or 1/50th of one percent.
- Many upper-income people live off their investment gains (they don't actually earn any income) and in a given year report large investment losses that may be able to offset taxes owed. So they've LOST money, they haven't actually made any. That's why they owe no tax.
- Or they may have tax-free investments, such as municipal bonds. Those are tax-free regardless of how much is gained from holding those investments.
- 76 million eligible Americans had no federal income tax liability. The few thousand mentioned in the article is approximately 0.02% of that amount or 1/50th of one percent.
- Many upper-income people live off their investment gains (they don't actually earn any income) and in a given year report large investment losses that may be able to offset taxes owed. So they've LOST money, they haven't actually made any. That's why they owe no tax.
- Or they may have tax-free investments, such as municipal bonds. Those are tax-free regardless of how much is gained from holding those investments.
Then why did Romney put them in the deadbeat group?
If they never took the responsibility of planning, saving, and investing for their retirement and rely solely on SS benefits to live and therefore pay no federal income tax, the shoe fits. They depend solely on the government for support.
The Occupy Wall Street movement, consisting of tens of thousands of participants and supporters in New York City alone, is the antithesis of the selfish Tea Party. It is selfless activism that puts into practice the ideals set forth on paper by the Founding Fathers. And these ideals are equality, unalienable rights, life, liberty, and pursuit of happiness. They include the basic rights to food, clothing, shelter, healthcare, education, jobs, and democracy
They believe the 99% are entitled to food, clothing, shelter, healthcare, education, and jobs. There is no mention whatsoever of actually earning any of those for themselves.
Means-tested programs, designed to help the needy, accounted for the largest share of recipients last year. Some 34.2 percent of Americans lived in a household that received benefits such as food stamps, subsidized housing, cash welfare or Medicaid (the federal-state health care program for the poor).
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
