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"The bottom 40%, on average, make a profit from the federal income tax system, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment."
"About 47% will pay no federal income taxes for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization."
Check your facts, that 13.9% mittens paid included payroll taxes. Total effective federal tax rate includes FICA taxes. When you compare apples to apples you have a completely different story.
FYI, if you going to ridicule someone citation as bias it doesn't help when your own citation is just as bias.
Quote:
Originally Posted by michiganmoon
So you are now changing the topic. The topic is the media is distorting when they say that Romney pays less in federal income taxes.
Federal Income Taxes goes to the government. Social Security goes to eventually pay for your personal retirement.
So if we switch gears, are you suggesting that people and their employers shouldn't help pay for their own retirement (social security)? Should we hold it against someone's tax rate if they are no longer employed and no longer pay into social security, because they made it and don't need social security?
[quote=buzzards27;22742738]Check your facts, that 13.9% mittens paid included payroll taxes. Total effective federal tax rate includes FICA taxes. When you compare apples to apples you have a completely different story.
Actually, the 13.9% does not include FICA and the FICA would make up a small portion as Social Security has a ceiling.
P.S. Yes the IRS.gov Table sheet and USAToday are so much more biased than a website whose front page is pleading with democrats to vote for Newt in the primary and is misquoting people.
By definition, 50 percent of wage earners in the US had net compensation less than or equal to the median wage, which is estimated to be $26,363.55 for 2010. Wage Statistics for 2010
You expect these folks to relate his tax rate to their situation...
He makes twice their yearly income per day.
Interesting.
Nobody is expecting them to, but lying about his situation is misleading and making people who are not smart enough to not know better believe they pay more than 15% is wrong. I realize a lot of people in this country are not real smart, but don't take advantage of them because of that.
Nobody is expecting them to, but lying about his situation is misleading and making people who are not smart enough to not know better believe they pay more than 15% is wrong. I realize a lot of people in this country are not real smart, but don't take advantage of them because of that.
As much as I laugh and applaud your efforts, this thread is actually duplicate and the folks who entertained this discussion a few days ago did a much better job sourcing their viewpoints.
You'd have done better telling us Gov. Romney paid tens of thousands more in taxes than he was supposed to, you did know that didn't you?
lol...
He's out of step with the populace and you're defending an untenable position. The tax laws need to be reformed.
As much as I laugh and applaud your efforts, this thread is actually duplicate and the folks who entertained this discussion a few days ago did a much better job sourcing their viewpoints.
You'd have done better telling us Gov. Romney paid tens of thousands more in taxes than he was supposed to, you did know that didn't you?
lol...
He's out of step with the populace and you're defending an untenable position. The tax laws need to be reformed.
Yes, the tax laws need reforming...people should be paying even less. I could care less about what you think of sources or what not. I don't see any real realiable sources for whatever you think you are arguing here. The point is, it is wrong to make people, who are not smart enough to know better, that they are paying more taxes than Mitt Romney when most of them are not.
Yes, the tax laws need reforming...people should be paying even less. I could care less about what you think of sources or what not. I don't see any real realiable sources for whatever you think you are arguing here. The point is, it is wrong to make people, who are not smart enough to know better, that they are paying more taxes than Mitt Romney when most of them are not.
Americans pay less taxes then most of the develop world. Taxes are the lowest share of gdp since the 1920's.
I really wonder if most Americans even understand such things as taxes and finance that they don't know better. Not only do 47% pay nothing, many of them actually get back huge refunds at the end of the year that they didn't even pay in due to the 'earned income credit'. I think this tax thing was just a big distraction and it didn't work.
And many (22%) of those who pay nothing, are retired. Do you want them to get a job just to pay income tax?
I don't think there are enough wal-marts needing greeters. (and i doubt that they would pay enough)
Some are teenagers, who make a very small amount. I guess they should quit school to work full time?
Of course some working folks have the opportunity to get the same deductions as everybody else.........if you want them to pay a tax, Im sure every one else will thank you.
A couple with two children earning less than $26,400 will pay no federal income tax because their $11,600 standard deduction and four exemptions of $3,700 each reduce their taxable income to zero. The same dedications as every household with two kids gets, including billionaires.
The distraction is using the 47% don't pay taxes at all. It appeals to the "I-dont-like-them-people-who-are-not-what-i-see-in-the-mirror" crowd.
Draw your own conclusions.
By definition, 50 percent of wage earners in the US had net compensation less than or equal to the median wage, which is estimated to be $26,363.55 for 2010. Wage Statistics for 2010
You expect these folks to relate his tax rate to their situation...
He makes twice their yearly income per day.
Interesting.
I wonder, how many of those are taking advantage of the Capital Gains Tax rate?
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lol...
