Quote:
Originally Posted by InformedConsent
So what does that make the 47% of American households that pay no federal income tax? Why do they get freebie federal government services and benefits that the rest don't?
I hardly think those paying MORE than their fair share are getting any special advantages. On the contrary, it's costing them far more than it should.
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This concept that 47% of mostly lower income American pay no taxes is a lie. What should be understood is most of these people have no taxable income because their income is small and this is consistent with the fact that most of these people have little or no net assets after all their liabilities are considered. These are the people that live pay check to pay check, have a negative equitity in their home mortgage and have nothing to speak of in their retirement accounts.
Yet they pay taxes like FICA and dear ol'Uncle Sam takes their income and has use of their money until the IRS has to cut a refund check. Thats why you file a 1040 to get your money back. Even if you cut the IRS out by under with holding you pay a penalty for trying to stiff the Feds.