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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?
I have no problem.. YOU are the one creating these ridiculous threads.
Quote:
Originally Posted by ovcatto
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?
More evidence of the failure of our education system.
If I hand you $100, and you pay $20 of that into "taxes".. Are YOU paying it, or am I?
By your own admission a very large percentage of this segment are elderly, who rely upon TAXPAYER money to "pay taxes".. I guess there goes your argument that they are paying. Congragulations on disputing your very own point.
So, where all of a sudden did these "group of people" come from? Are they minorities, illegals, who are they? Did they all come to the conclusion that "hey I don't want to be a taxpayer, I think I'd want to be one of "those people". Now the figure is 51%, all leaches who just popped up out of thin air. Statistically, who exactly are they?
People not working, drawing a check from the government, or more "credits" then their liability.
You can easily be one of those people. Stop working..
Everyone knows its this group of people draining society and not paying into it. I have yet to hear ONE good reason why ANYONE shouldnt be contributing taxes. All you did was waaa waaa waaa..
btw, that total is now up to 51% of americans.. And people wonder why the deficits are what they are.. You want everything, you just want SOMEONE ELSE to pay for it.
NOBODY ever said that they shouldn't be contributing, and they are. There's a hell of a lot more then 51% that pays taxes
Question, a multimillionaire has his tax lawyer do his taxes. Tax lawyer deducts all of the deductions this millionaire is allowed, including some that only a high priced tax lawyer would know of. The final amount the multi millionaire owes is taxable income minus deductions and that's what he pays. Did he pay his fair share?
Question, a multimillionaire has his tax lawyer do his taxes. Tax lawyer deducts all of the deductions this millionaire is allowed, including some that only a high priced tax lawyer would know of. The final amount the multi millionaire owes is taxable income minus deductions and that's what he pays. Did he pay his fair share?
yes...BY LAW
I earn 60k..and pay NOTHING in federal income OR PAYROLL taxes....by LAW
if by law we say you can write off medical costs,...then if the person is doing that..its ok
Does this include the people who live off of capital gains or are smart enough to write-off almost everything? I think the OP has a point, the top portion and the bottom portion do not pay as much taxes as the middle working class. Sadly the statistics do not account for both ends, it only accounts for one end or the other
Long term income from capital gains is taxed at a lower rate than if it were ordinary income. But it is still income tax.
Someone living off capital gains will still pay income taxes unless their deductions are very high.
BTW - I bet most people in such a situation have dividend and interest income, which is taxed as ordinary income.
Question, a multimillionaire has his tax lawyer do his taxes. Tax lawyer deducts all of the deductions this millionaire is allowed, including some that only a high priced tax lawyer would know of. The final amount the multi millionaire owes is taxable income minus deductions and that's what he pays. Did he pay his fair share?
Yes he did - because the tax law created this situation. Since Congress seems to think the tax code is a reasonable way to both modify behavior and generate revenue - your situation did exactly what Congress designed it to do.
The answer is to radically simplify the tax code. Take those deductions away - FROM EVERYONE. Then the tax code can't be gamed.
Question, a multimillionaire has his tax lawyer do his taxes. Tax lawyer deducts all of the deductions this millionaire is allowed, including some that only a high priced tax lawyer would know of. The final amount the multi millionaire owes is taxable income minus deductions and that's what he pays. Did he pay his fair share?
According to IRS data, he (top 0.1%) paid an effective income tax rate of 18%.
Meanwhile, a middle class person's effective income tax rate was only 3.3%, and the lowest 20% of income earners had an effective income tax rate of -8.1% (not only did they pay NO federal income tax, they got a significant amount of money FROM the government).
Given the above info, the multimillionaire is OVER-paying his fair share, the middle class person is UNDER-paying their fair share, and the lowest 20% are actually costing taxpayers A LOT of money.
Also noteworthy on that chart is the effective rate for ALL federal taxes, combined, by income grouping in the last column.
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