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This entitlement society combined with our wasteful spending, kleptocratic federal government is unsustainable. When Obama speaks of Americans paying "their fair share" he leaves out the fact that statistically half of all Americans (within margin of error) are not even paying federal income tax at all.
Since the federal income tax has become such a failure that 49.5% are not paying into it at all perhaps we should just revoke the 16th Amendment altogether. It is clear the welfare state and FDR's experiment have failed when half of American's do not pay federal income tax. This is the result of a century of the government robbing Peter to pay Paul thus buying Paul's vote in the process.
Do you know what the cutoff for a family of 4 is for coming in under the amount to pay federal taxes? $26,400. For a family of 4. They need to pay molre taxes? That's half of the 49.5%, nearly 25% of the country.
The second largest group of non-taxpayers are the elderly on social security. So Grandma needs to pay more taxes?
The third largest are targeted tax breaks toward the poor for single mothers, etc. So single parents need to pay more taxes?
These three groups (which encompass 90% of the 49.5% cited) are the ones you are blaming. Families under $26,400, the elderly on social security and the poor.
Maybe you need to look a little more closely at these people before somehow considering them freeloaders. You try to feed, clothe and keep a family of 4 healthy, do Christmas, Thanksgiving, birthdays, all on $26,400 a year. And then tell me you deserve to pay more in taxes.
My sister in law's family made $55,000 in 2010 and had a net effective tax rate of 0%. Got everything back that they put in...and they complain that the rich don't pay their fair share. Can't a family of 5 making 55K afford at least a net 1% effective tax rate?
They don't pay because they don't make enough. The fed can not pig-out the state and local taxes. However, they still pay FICA.
FICA is SS. That comes back to you with interest when you retire. You cannot count that. We are talking about Federal taxes that fund the government and the military. These freeloaders need to contribute something. I don't care if they earn zip. It still should cost something to live under the protection of this country.
Actually you're wrong, the FINANCIAL wealthy of just personal and non profits is over $55 trillion. That doesn't include corporate FINANCIAL wealth. And we aren't even talking about material wealth, home, land, toys, buildings, and infrastructure....
Considering the top 1% owns 47% of that $55 trillion we could pay off the debt and have money left for middle class tax cuts....
You have been proven wrong yet again, but I'm sure we'll find telling the same lie again and again.
I guess the 90 year old lady getting by on her SS check with a 100K home will have to fork out 10K a year.
My sister in law's family made $55,000 in 2010 and had a net effective tax rate of 0%. Got everything back that they put in...and they complain that the rich don't pay their fair share. Can't a family of 5 making 55K afford at least a net 1% effective tax rate?
There are your loopholes. Mostly exploited by the rich. Close them for everyone.
FICA is SS. That comes back to you with interest when you retire. You cannot count that. We are talking about Federal taxes that fund the government and the military. These freeloaders need to contribute something. I don't care if they earn zip. It still should cost something to live under the protection of this country.
They pay state, local, property and excise taxes. They pay federal taxes on fuel and a variety of utilities and services. In the cases of seniors, they have already had FICA withdrawn and floated SS, and as a favor, now the government is going to TAX them for the priviledge? Please. Nearly a quarter of your "freeloaders" are SS recipients.
Do you know what the cutoff for a family of 4 is for coming in under the amount to pay federal taxes? $26,400. For a family of 4. They need to pay molre taxes? That's half of the 49.5%, nearly 25% of the country.
The second largest group of non-taxpayers are the elderly on social security. So Grandma needs to pay more taxes?
The third largest are targeted tax breaks toward the poor for single mothers, etc. So single parents need to pay more taxes?
These three groups (which encompass 90% of the 49.5% cited) are the ones you are blaming. Families under $26,400, the elderly on social security and the poor.
Maybe you need to look a little more closely at these people before somehow considering them freeloaders. You try to feed, clothe and keep a family of 4 healthy, do Christmas, Thanksgiving, birthdays, all on $26,400 a year. And then tell me you deserve to pay more in taxes.
My point is that soon a minority of the US population will not be able to sustain a majority of those who are consuming services without paying into the system. Or, do you really not see that?
You mention groups not paying federal income taxes and ask if they need to "pay more". In order to "pay more" they have to be paying some federal income taxes which they are not. Had you actually read the thread opening post you would see that I am not asking people to pay more but to abolish the failed system of federal income tax completely. When you reach a point that half the population is not paying then it is clear the tax system has failed by design. Our government and the people included (all of them) need to live within their means.
Either "all in" or "all out"; no more robbing Peter to buy Paul's vote.
This entitlement society combined with our wasteful spending, kleptocratic federal government is unsustainable. When Obama speaks of Americans paying "their fair share" he leaves out the fact that statistically half of all Americans (within margin of error) are not even paying federal income tax at all.
Since the federal income tax has become such a failure that 49.5% are not paying into it at all perhaps we should just revoke the 16th Amendment altogether. It is clear the welfare state and FDR's experiment have failed when half of American's do not pay federal income tax. This is the result of a century of the government robbing Peter to pay Paul thus buying Paul's vote in the process.
1) I am suspicious of the Heritage.
2) I'll still accept those stats at face value. I'll play their game.
Okay, so what does that tell you? It tells me that since the Great Recession that more and more people simply don't earn enough income to pay income taxes. That stands to reason because fewer and fewer people have adequate income. Keep in mind that Obama has not fundamentally changed anything about the current tax structure yet. Thus, we're still dealing with the legacy of a tax structure from previous presidents, beginning with Reagan.
My point is that soon a minority of the US population will not be able to sustain a majority of those who are consuming services without paying into the system. Or, do you really not see that?
That would be happening already. The income tax structure is increasingly dependent on corporate income, social security income, and the income of the wealthy.
But it's also true that the economy in general is more dependent on the wealthy than at anytime in recent history -- well, probably since the Great Depression. And that's not a coincidence.
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