47,000 Of America's Wealthiest Households Will Get Off Tax-Free

[gotsnowgotslush]

Vote for Romney and make his dream come true!

"Increase taxes on the poor person so we can "reward success" by letting the rich person take home even more!"

35,000 Rich People Aren't Paying Any Income Tax? How Is That Possible?

http://www.theatlantic.com/business...-any-income-tax-how-is-that-possible/258183 /

The GOP's Bizarre, Disturbing Passion for Raising Taxes on the Poor

http://www.theatlantic.com/business...passion-for-raising-taxes-on-the-poor/258126/

No income tax- child tax credit and the earned income tax credit, both of which were increased in the Republicans' 2001 tax cut.

Payroll taxes bring in almost as much money as the individual income tax.

If you include payroll taxes, it turns out that only 18 percent of households pay no direct federal taxes.

The majority of people who don't pay either income or payroll taxes are the elderly.

Households that don't pay direct federal taxes make less than $20,000 per year

 

[fuckwaffle]

Your figures are a little off there.

 

[RobDownSouth]

Your figures are a little off there.

Pro-tip: never trust anything that contains the word "taxfoundation.org". anywhere on it.

 

[LiFeNdEaTh]

this reminds me of my cousin, when he owned over 30k on taxes. he didnt pay it up, an now is still serving time in jail.. i believe he got 5yrs for it.

 

[renard_ruse]

Nearly all of those tax cheats are rich social liberals, like the Kennedys. They will continue to pay nothing like they always have regardless of who is elected.

Doesn't it bother you that tens of millions of people pay nothing? 35,000 rich not paying bothers you more than the tens of millions who pay nothing and take a disproportionate amount of the public resources? Yes, its true, despite your phony statistics to the contrary.

That is perverse. Here's a proposal, take everything from those 35,000 rich liberals. Who really cares. But only on the condition you make these tens of millions of everyone else who aren't paying their share start pulling their weight too.

I never used to mind paying taxes, really. I was naive and thought my neighbors were paying their share too; it turns out they are a bunch of freeloaders and I subsidize their children with all these tax breaks when the planet is overcrowded anyway. No more tax breaks for having children.

 

[fuckwaffle]

Pro-tip: never trust anything that contains the word "taxfoundation.org". anywhere on it.

I was actually looking at the source: IRS Funny how they know what's really going on with the taxpayers and you don't.

 

[fuckwaffle]

Nearly all of those tax cheats are rich social liberals, like the Kennedys. They will continue to pay nothing like they always have regardless of who is elected.

Doesn't it bother you that tens of millions of people pay nothing? 35,000 rich not paying bothers you more than the tens of millions who pay nothing and take a disproportionate amount of the public resources? Yes, its true, despite your phony statistics to the contrary.

That is perverse. Here's a proposal, take everything from those 35,000 rich liberals. Who really cares. But only on the condition you make these tens of millions of everyone else who aren't paying their share start pulling their weight too.

I never used to mind paying taxes, really. I was naive and thought my neighbors were paying their share too; it turns out they are a bunch of freeloaders and I subsidize their children with all these tax breaks when the planet is overcrowded anyway. No more tax breaks for having children.

Look at ole Timmy...he hadn't paid his taxes until he was nominated to his current position...the crook is now in charge of the Treasury. WTF is up with that?

 

[RobDownSouth]

I was actually looking at the source: IRS Funny how they know what's really going on with the taxpayers and you don't.

I'm quite sure that's what YOU believe.

 

[KRCummings]

Now 200K is rich? I thought it was middle class. Motherfuckers need to make up your mind on this shit.

 

[Peregrinator]

Now 200K is rich? I thought it was middle class. Motherfuckers need to make up your mind on this shit.

What was the one percent again?

 

[bronzeage]

There have been about 400 US military personnel under the age of 20, listed as casualties in Iraq and Afghanistan.

Given that the medium pay of a Private is just under $18K, some were married, had children and may have qualified for various tax credits, I wonder how many of them every paid income taxes in their short lives.

 

[Ham Murabi]

There have been about 400 US military personnel under the age of 20, listed as casualties in Iraq and Afghanistan.

Given that the medium pay of a Private is just under $18K, some were married, had children and may have qualified for various tax credits, I wonder how many of them every paid income taxes in their short lives.

I suppose if you're really interested you could look it up.

 

[fuckwaffle]

Vote for Romney and make his dream come true!

"Increase taxes on the poor person so we can "reward success" by letting the rich person take home even more!"

35,000 Rich People Aren't Paying Any Income Tax? How Is That Possible?

http://www.theatlantic.com/business...-any-income-tax-how-is-that-possible/258183 /

The GOP's Bizarre, Disturbing Passion for Raising Taxes on the Poor

http://www.theatlantic.com/business...passion-for-raising-taxes-on-the-poor/258126/

No income tax- child tax credit and the earned income tax credit, both of which were increased in the Republicans' 2001 tax cut.

Payroll taxes bring in almost as much money as the individual income tax.

If you include payroll taxes, it turns out that only 18 percent of households pay no direct federal taxes.

The majority of people who don't pay either income or payroll taxes are the elderly.

Households that don't pay direct federal taxes make less than $20,000 per year

The unfortunate way the statements are phrase is highly misleading.

You on pay income tax and payroll tax if you have an income. You only pay income taxes if you have an adjusted gross income greater that $5. With todays credits, etc. 47% of earners have no income tax liability.

And guess what, you could be wealthy and have no income. At least what the IRS defines as income. No salary, no payroll taxes or income taxes.

Now what you might have is Capital gains taxes. They are not income taxes. They are a tax on gains from investments...stocks and bonds.

There were years in my career that I paid neither income tax or payroll taxes. I was given, in return for my knowledge and expertise, stock in the company I was consulting with. This happened several times. I would wait the required time and sell off some of the stock, pay the capital gains tax and bank the rest for future use.

Was I wealthy? Some thought so.

 

[fuckwaffle]

I'm quite sure that's what YOU believe.

Maybe you'll believe your beloved MSNBC.

Half of U.S. pays no federal income tax
Credits for low- and middle-income families exempt many

WASHINGTON — Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it's simply somebody else's problem.

About 47 percent will pay no federal income taxes at all 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.

Most people still are required to file returns by the April 15 deadline. The penalty for skipping it is limited to the amount of taxes owed, but it's still almost always better to file: That's the only way to get a refund of all the income taxes withheld by employers.

In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax.

 

[Mike_Yates]

Vote for Romney and make his dream come true!

"Increase taxes on the poor person so we can "reward success" by letting the rich person take home even more!"

35,000 Rich People Aren't Paying Any Income Tax? How Is That Possible?

http://www.theatlantic.com/business...-any-income-tax-how-is-that-possible/258183 /

The GOP's Bizarre, Disturbing Passion for Raising Taxes on the Poor

http://www.theatlantic.com/business...passion-for-raising-taxes-on-the-poor/258126/

No income tax- child tax credit and the earned income tax credit, both of which were increased in the Republicans' 2001 tax cut.

Payroll taxes bring in almost as much money as the individual income tax.

If you include payroll taxes, it turns out that only 18 percent of households pay no direct federal taxes.

The majority of people who don't pay either income or payroll taxes are the elderly.

Households that don't pay direct federal taxes make less than $20,000 per year

What about the ~140,000 Americans who do not make enough money to pay federal income tax?

 

[mercury14]

Nearly all of those tax cheats are rich social liberals.

Do you have any evidence of this? Or even that anyone is cheating? If Conservatives don't have to pay taxes do they choose to forgo their deductions and pay anyway?

 

[Liar]

Is this tax free the way the bottom 47% is "tax free", or is it actual tax free?

 

[mercury14]

Is this tax free the way the bottom 47% is "tax free", or is it actual tax free?

Nobody is tax-free. We pay taxes from the time we wake up to the time we go to bed.

 

[CandiCame]

You know... I always get money back. I forget that there are people who have to pay extra taxes. I'd be so fucking pissed. I depend on that money. I use it to pay my car insurance for the year...

 

[Mike_Yates]

Almost half of all US citizens do not make enough money to pay federal income tax.

That is a HUGE financial burden on the government.

Most of these people are welfare recipients who are too lazy to work.

 

[mercury14]

Almost half of all US citizens do not make enough money to pay federal income tax.

That is a HUGE financial burden on the government.

Most of these people are welfare recipients who are too lazy to work.

You think half of America is lounging around on welfare?

 

[JAMESBJOHNSON]

You think half of America is lounging around on welfare?

I estimate the number is closer to 95% when you add affirmative action and Chelsea Clinton.

 

[CandiCame]

I've learned so much about taxes this year... and so much of it is so much bullshit.

 

[fuckwaffle]

Nobody is tax-free. We pay taxes from the time we wake up to the time we go to bed.

That's bullshit and you know it Mister-Know-It-All.

 

[fuckwaffle]

You know... I always get money back. I forget that there are people who have to pay extra taxes. I'd be so fucking pissed. I depend on that money. I use it to pay my car insurance for the year...

Just because you get money back doesn't mean you don't pay income taxes. What that means is you aren't filling out you W4 out properly. If you claimed the proper deductions you wouldn't get anything back and you pay check would be that much bigger.