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Old 10-18-2011, 08:37 AM
 
31,385 posts, read 32,081,824 times
Reputation: 14896

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Quote:
Originally Posted by workingclasshero View Post
again with the lefty spin
First sentence second paragraph: About half of taxpayers paid no federal income tax last year. It does not mean they paid no tax at all.

Where is the spin?
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Old 10-18-2011, 08:40 AM
 
11,978 posts, read 17,489,276 times
Reputation: 6077
Quote:
Originally Posted by oz in SC View Post
Well the apologists will say it isn't 'fair' for those 47% or 51% to pay federal income tax.

But then also argue they pay other taxes and that is okay it seems....
Maybe so. But this debate never gets off the ground because nobody focuses on federal income tax.
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Old 10-18-2011, 08:40 AM
 
25,059 posts, read 23,157,510 times
Reputation: 11619
Again, people, income tax DOES NOT pay for government services! The government borrows money from the Federal Reserve to pay for their spending, minus the fees the government charges. That is what makes up the public debt. The government is taking out loans in YOUR name (hence why all of us "owe" money on the public debt) and the Federal Reserve charges interest on that loan.

Simply put, the government is the consumer, and the Federal Reserve is the local community bank. The income tax is the amount you must pay monthly to keep your account in good standing. Everyone understand?
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Old 10-18-2011, 08:41 AM
 
31,385 posts, read 32,081,824 times
Reputation: 14896
Quote:
Originally Posted by pghquest View Post
Everyone knows its this group of people draining society and not paying into it.
When you consider that a very large percentage of that society draining group are the elderly.. many of whom paid income taxes for decades, one has to wonder what exactly is your problem?
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Old 10-18-2011, 08:42 AM
 
66,437 posts, read 30,294,925 times
Reputation: 8660
Quote:
Originally Posted by theunbrainwashed View Post
Who cares? Income tax doesn't pay for government services anyway, that's a common misconception
FALSE!

Quote:
The individual income tax has been the largest single source of federal revenue since 1950
What are the federal government's sources of revenue?
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Old 10-18-2011, 08:43 AM
 
11,978 posts, read 17,489,276 times
Reputation: 6077
Quote:
Originally Posted by theunbrainwashed View Post
Again, people, income tax DOES NOT pay for government services! The government borrows money from the Federal Reserve to pay for their spending, minus the fees the government charges. That is what makes up the public debt. The government is taking out loans in YOUR name (hence why all of us "owe" money on the public debt) and the Federal Reserve charges interest on that loan.

Simply put, the government is the consumer, and the Federal Reserve is the local community bank. The income tax is the amount you must pay monthly to keep your account in good standing. Everyone understand?
You need to do a bit of research on T-Bills and China.
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Old 10-18-2011, 08:44 AM
 
Location: Austin
29,546 posts, read 16,475,253 times
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Quote:
Originally Posted by ovcatto View Post
Last June, my colleague Bob Williams posted a TaxVox article that reported 47 percent of American households paid no federal income tax in 2009. Bob was exactly right, but rarely has a bit of data been so misunderstood, or so misused.

So....where is the "47% Myth"?
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Old 10-18-2011, 08:45 AM
 
Location: North Cackelacky....in the hills.
19,556 posts, read 19,300,312 times
Reputation: 2499
Quote:
Originally Posted by ovcatto View Post
First sentence second paragraph: About half of taxpayers paid no federal income tax last year. It does not mean they paid no tax at all.

Where is the spin?
It has NEVER been stated that 47% or 51% pay NO taxes,it has always been they pay no federal income tax.

I am glad you agree that half of eligible Americans do not in fact pay ANY federal income tax.

I am also sure you think this is wrong,especially since you posted they are paying other taxes.
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Old 10-18-2011, 08:46 AM
 
Location: North Cackelacky....in the hills.
19,556 posts, read 19,300,312 times
Reputation: 2499
Quote:
Originally Posted by Roadking2003 View Post
[/indent][/indent]So....where is the "47% Myth"?
It appears the OP has posted a misleading thread title....
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Old 10-18-2011, 08:49 AM
 
Location: The Land of Reason
13,300 posts, read 10,490,783 times
Reputation: 3541
Quote:
Originally Posted by theunbrainwashed View Post
Who cares? Income tax doesn't pay for government services anyway, that's a common misconception
The brainwashed teabaggers who taut this misleading fact in thei arguement against making the wealthy paid their fair share of taxes
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