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Old 10-13-2011, 11:54 PM
 
33,046 posts, read 22,043,990 times
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Quote:
Originally Posted by mmmjv View Post
i'm not talking about getting back more then you paid. I'm talking about getting back what you overpaid. That's why they call it a "refund" and not "free money"

tanstafm
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Old 10-14-2011, 03:51 AM
 
Location: Undisclosed Bunker
268 posts, read 350,162 times
Reputation: 226
Quote:
Originally Posted by doc1 View Post
"Those of us who pay for those of you who whine about all of that... or that... or whatever. "

We Are The 53%
What these dummys holding up boastful signs don't understand is the system they support is screwing them over too. Nearly 3000 families lose their homes every single day in the US. Check out Daily Job Cuts.com

To claim you are above or immune to this global melt down because you work hard or you have a degree is laughable. Here's my sign-

Pride and arrogance precedes a great fall.
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Old 10-14-2011, 05:41 AM
 
27,903 posts, read 34,432,654 times
Reputation: 4031
Quote:
Originally Posted by mmmjv View Post
I'm not talking about getting back MORE then you paid. I'm talking about getting back what you OVERPAID. That's why they call it a "REFUND" and not "FREE MONEY"
Credit. But you can make $20k/year and overpay effectively giving the government an interest free loan.

The point of the child tax credit was to put money in the hands of people that pretty much had to spend it. Families always have some need.
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Old 10-14-2011, 06:22 AM
 
Location: Some Beach... Somewhere...
4,786 posts, read 4,031,360 times
Reputation: 4935
Quote:
Originally Posted by dunks_galore View Post
Do you really think it's so easy for poor people relocate to another country?
12 million Mexicans seem to have done it. Where there's a will, there's a way!
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Old 10-14-2011, 06:26 AM
 
4,912 posts, read 2,882,334 times
Reputation: 1250
Quote:
Originally Posted by Roadking2003 View Post
Writing a check or getting a refund has nothing to do with the "53%". The April 15 check or refund is simply a true up.

If the sum of your payments throughout the year less your refund the following year is positive, you are in the 53%.
That would put me in the 53%, when I was working anyway. Which now makes that figure suspicious because my income was never all that high
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Old 10-14-2011, 07:17 AM
 
66,437 posts, read 30,302,435 times
Reputation: 8660
Quote:
Originally Posted by mmmjv View Post
I'm not talking about getting back MORE then you paid. I'm talking about getting back what you OVERPAID. That's why they call it a "REFUND" and not "FREE MONEY"
Three words for you... refundable tax credit.

Many people do, in fact, get back MORE than they paid.
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Old 10-14-2011, 08:16 AM
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Location: Long Island / NYC
45,985 posts, read 41,937,844 times
Reputation: 14804
Quote:
Originally Posted by Roadking2003 View Post
Writing a check or getting a refund has nothing to do with the "53%". The April 15 check or refund is simply a true up.

If the sum of your payments throughout the year less your refund the following year is positive, you are in the 53%.
NO the payments on the tax return include payroll taxes. The 47% are people who don't pay federal income taxes. But many of those 47% still pay payroll tax. If the sum of your payments throughout the year less your refund is positive, you may not be in the 53%.

Your payroll tax should be listed as FICA and/or medicare tax. Subtract those from the sum of your payments as well as your refund and then you can tell if you paid income tax.

I suspect a lot of the people who think they are in the 53% aren't. I was in the 53%, but just barely.
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Old 10-14-2011, 08:49 AM
 
17,497 posts, read 10,653,610 times
Reputation: 6746
Quote:
Originally Posted by Nocontengencies View Post
That won't work. If gramma doesn't have to pay taxes then all relatives will be putting the title of their house in her name.
Guess your right, so much for honesty!!
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Old 10-14-2011, 08:56 AM
 
3,502 posts, read 1,819,888 times
Reputation: 646
Quote:
Originally Posted by Randomstudent View Post
Does anyone else find it funny that about 1/4 of the people on that site openly admit that they are not part of the "53%".
Probably because many of them pay taxes in other forms. Who pulls more weight, someone who pays $6,000 in income taxes, or someone who pays $0 in income taxes but $7,000 in property taxes?
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Old 10-14-2011, 09:06 AM
 
66,437 posts, read 30,302,435 times
Reputation: 8660
Quote:
Originally Posted by Skinny Puppy View Post
Probably because many of them pay taxes in other forms. Who pulls more weight, someone who pays $6,000 in income taxes, or someone who pays $0 in income taxes but $7,000 in property taxes?
You're conflating federal income tax with local property tax. Very different taxing bodies.

Your point is moot, anyway, because everyone who owns or rents a home within a local taxing body pays property tax either directly, or indirectly via rent. Believe me, landlords don't pay property taxes out of their own pockets.
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