Sign in to follow this  
Followers 0
Nessmuk

I looked at my taxes today.

Rate this topic

9 posts in this topic

I'm generally a calm person, who really tends to dislike melodrama, however...I am sincerely angry right now, and at the top of list of people I blame are those not paying income tax, and especially those taking more from the public coffers than they will ever put in. Time to quit boo-hooing about about the rift in this country and realize the ultimate cause of said rift is the fleecing of a half of the population by the other half. You want to patch us up...stop robbing people.

 

You don't pay, you don't vote where the money goes.

Share this post


Link to post
Share on other sites

The 47 percent number is not wrong. The stimulus programs of the last two years — the first one signed by President George W. Bush, the second and larger one by President Obama — have increased the number of households that receive enough of a tax credit to wipe out their federal income tax liability.

 

Even if the discussion is restricted to federal taxes (for which the statistics are better), a vast majority of households end up paying federal taxes. Congressional Budget Office data suggests that, at most, about 10 percent of all households pay no net federal taxes. The number 10 is obviously a lot smaller than 47.

 

The reason is that poor families generally pay more in payroll taxes than they receive through benefits like the Earned Income Tax Credit. It’s not just poor families for whom the payroll tax is a big deal, either. About three-quarters of all American households pay more in payroll taxes, which go toward Medicare and Social Security, than in income taxes.

 

Focusing on the statistical middle class — the middle 20 percent of households, as ranked by income — underlines this point. Households in this group made $35,400 to $52,100 in 2006, the last year for which the Congressional Budget Office has released data. That would describe a household with one full-time worker earning about $17 to $25 an hour. Such hourly pay is typical for firefighters, preschool teachers, computer support specialists, farmers, members of the clergy, mail carriers, secretaries and truck drivers, according to the Bureau of Labor Statistics.

 

Taking into account both taxes and tax credits, the average household in this group paid a total income tax rate of just 3 percent. A good number of people, in fact, paid no net income taxes. They are among the alleged free riders.

 

But the picture starts to change when you look not just at income taxes but at all taxes. This average household would have paid 0.8 percent of its income in corporate taxes (through the stocks it owned), 0.9 percent in gas and other federal excise taxes, and 9.5 percent in payroll taxes. Add these up, and the family’s total federal tax rate was 14.2 percent.

 

Of course anyone receiving welfare, unemployment, SS, SSD and more use it to live and pay taxes for survivable items like food.

Share this post


Link to post
Share on other sites

I don't blame Americans rich or poor for how much they pay or don't pay. Blame them only for continuing to allow our govt. to keep wasting money, keep voting for politicians willing to spend more and more and not spend it wisely of efficiently. When you consider the massive economic production of this country and for how long it has been at the top of the planet untouchable b any other nation in economic production, our govt. should be sitting on a pile of treasury so high that in economic downturns we should be able to take a year off from taxes and give people a shot at getting ahead.

 

 

Share this post


Link to post
Share on other sites

I know a guy that is collecting $500 a week in unemployment benefits, has job offers that he was not interested in pursuing, not paying his mortgage, was going to lose his place happily because he was underwater, and is going to walk away from the close of his place with $3,000 guaranteed from Obama! Nice incentive there O'Bummer :(

Share this post


Link to post
Share on other sites
I know a guy that is collecting $500 a week in unemployment benefits, has job offers that he was not interested in pursuing, not paying his mortgage, was going to lose his place happily because he was underwater, and is going to walk away from the close of his place with $3,000 guaranteed from Obama! Nice incentive there O'Bummer :(

 

He's a slug now and always has been.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to register here in order to participate.

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0

  • Recently Browsing   0 members

    No registered users viewing this page.