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What percentage of Americans pays no federal taxes?
Quote:
If you listen to talk radio, you may have heard the number 47 percent. That is the share of households that pay no net federal income taxes, once tax credits like the Earned Income Tax Credit are taken into account. This 47 percent number comes from the Tax Policy Center.
But once all federal taxes are considered — investment taxes, payroll taxes and others — the share drops sharply. Several tax experts I interviewed thought the number was around 10 percent and probably lower than that.
You can see this by looking at the Congressional Budget Office data (http://1.usa.gov/q7to6X - broken link) on tax rates by income group.
Note from the CBO:
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Comprehensive household income equals pretax cash income plus income from other sources. Pretax cash income is the sum of wages, salaries, self-employment income, rents, taxable and nontaxable interest, dividends, realized capital gains, cash transfer payments, and retirement benefits plus taxes paid by businesses (corporate income taxes and the employer's share of Social Security, Medicare, and federal unemployment insurance payroll taxes) and employee contributions to 401(k) retirement plans. Other sources of income include all in-kind benefits (Medicare, Medicaid, employer-paid health insurance premiums, food stamps, school lunches and breakfasts, housing assistance, and energy assistance).
The key word here is "suggests" ~ Definition of SUGGEST
a: to seek to influence
b: to call forth
c: to mention or imply as a possibility
d: to propose as desirable or fitting
e: to offer for consideration or as a hypothesis
Nice try. I personally know a lot of people who filled out their 1040 form and the figure for what they overpaid was much larger then the income taxes that were withheld. They ended up NOT paying taxes, and they got money back.
The people I'm talking about are the ones making about $30k a year, and if they owned their own home with a mortgage, they definitely paid zero in federal income taxes.
most under 50k pay nearly nothing in federal income,...and with their return get back most if not all from BOTH federal income and federal payroll(medicare/ss)
I earn 60k and pay NOTHING in federal taxes..infact I get back MORE than what was collected from BOTH federal income and federal payroll
the FACTs are there 47% pay NOTHING in federal INCOME tax...and of those AT LEAST 10% pay NOTHING in federal INCOME AND federal PAYROLL
Your own thread said " FEDERAL TAXES " then you state everything from turnpike tolls to toilet paper tax. The mods shame me for calling others stupid but you are baiting me for an infraction.
Your own thread said " FEDERAL TAXES " then you state everything from turnpike tolls to toilet paper tax. The mods shame me for calling others stupid but you are baiting me for an infraction.
No.
You're baiting yourself.
You're clearly unable or unwilling to read further.
Go back. Read the source. Comprehend. Come back.
most under 50k pay nearly nothing in federal income,...and with their return get back most if not all from BOTH federal income and federal payroll(medicare/ss)
I earn 60k and pay NOTHING in federal taxes..infact I get back MORE than what was collected from BOTH federal income and federal payroll
the FACTs are there 47% pay NOTHING in federal INCOME tax...and of those AT LEAST 10% pay NOTHING in federal INCOME AND federal PAYROLL
Please what?
The source of the data disputes your assessment.
Your facts are wrong.
Does that make them opinion?
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