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And poor people pay sales tax and payroll taxes. We're talking about Fed income tax.
So does everyone else. That doesn't let them off the hook for their "social contract" responsibility of contributing to the cost of the Fed Gov. In fact, poor people, as a group, are significant users of Fed Gov services/benefits even though they don't contribute. 25%, approx $1 trillion, of the budget is spent on Medicaid, Food Stamps, Welfare, and other means-tested Fed Gov assistance programs.
If a person is retired and living off of their Roth IRA, they will pay zero taxes on that “income.” That’s how Roth IRAs work.
No doubt - I know at least four very wealthy individuals who actually pay either nothing - OR, they get money back. If I am not wrong, if the calcs work out that way you get money back even if you didn't pay in!
MAGA.....
"Even if you don’t pay anything in to the IRS during the year, deductions and refundable tax credits can earn you a tax refund if your total amount of deductions and credits is more than you owe in taxes."
I wonder if Trump took out this exception from his "reform". It would seem unfair to give people back free money if they paid zero??
So does everyone else. That doesn't let them off the hook for their "social contract" responsibility of contributing to the cost of the Fed Gov. In fact, poor people, as a group, are significant users of Fed Gov services/benefits even though they don't contribute. 25%, approx $1 trillion, of the budget is spent on Medicaid, Food Stamps, Welfare, and other means-tested Fed Gov assistance programs.
Poor people don't pay for Medicaid? Are you sure about that?
And again, are you giving up your tax benefits to make sure that poor people can't owe 0% Fed taxes?
What "fair share?" How does one define "fair share?" Who defines it? Who benefits?
Many of us have been asking that question for years. Lefties whine about those who don't pay their "fair share," but then refuse to define what "fair share" is.
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Nope, payroll taxes only apply to earned income, and even then are partially capped the more you make. Many states have no income taxes.
The Medicare tax isn't capped. Furthermore, SS benefits are dependent on what one has contributed in SS tax, with an advantage going to lower income earners. They get a higher benefit as a percentage of their contributions than the middle class and above get. In fact, the Associated Press published a report a few years ago stating that while higher income earners started losing money on SS in the 1990s, the middle class now also loses money on SS. Only the low-income get back more in SS benefits than they paid in SS tax.
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I never signed any "contract" with the government. I already pay to help fund the Federal goverment, just not through income taxes.
It's a supposed "social contract," not a contract with the Fed Gov. The left claims that we are all a party to it.
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