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Do You Actually Pay Federal Income Tax?

Discussion in 'Politics, Elections & Legislation' started by JBrooks, Apr 13, 2009.

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  1. JBrooks

    JBrooks TS Member

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    Here is an excerpt from an article that can be found at the link. As you will see, soon over 50% of the people will pay NO income tax. That means if you have, are or will pay income tax, you are giving a free ride to the other half of the Country. Now, which political party do you suppose the free riders vote for? Now, if you are a taxpayer, why would you vote with them?

    " very small number of taxpayers -- the 10% of the country that makes more than $92,400 a year -- pay 72.4% of the nation's income taxes. They're the tip of the triangle that's supporting virtually everyone and everything. Their burden keeps getting heavier.

    As a result of the 2001 tax cuts enacted by a bipartisan Congress and signed by President George W. Bush, the share of taxes paid by the top 10% increased to 72.8% in 2005 from 67.8% in 2001, according to the latest data from the Congressional Budget Office (CBO).

    Contrary to the myth that Mr. Bush cut taxes only for the wealthy, the 2001 tax cut reduced taxes for every income-tax payer in the country. He reduced the bottom tax rate to 10% from 15% and increased the refundable child tax credit to $1,000 from $500 per child, both cuts that President Barack Obama says we should keep. In so doing, millions of lower income taxpayers were removed from the tax rolls, shifting the remaining burden to those at the top, even after their taxes were cut.

    According to the CBO, those who made less than $44,300 in 2001 -- 60% of the country -- paid a paltry 3.3% of all income taxes. By 2005, almost all of them were excused from paying any income tax. They paid less than 1% of the income tax burden. Their share shrank even when taking into account the payroll tax. In 2001, the bottom 60% paid 16.3% of all taxes; by 2005 their share was down to 14.3%. All the while, this large group of voters made 25.8% of the nation's income.

    When you make almost 26% of the income and you pay only 0.6% of the income tax, that's a good deal, courtesy of those who do pay income taxes. For the bottom 40%, the redistribution deal is even better. In 2001, these 43 million Americans, who earn less than $30,500, made 13.5% of the nation's income but paid no income tax. Instead, they received checks from their taxpaying neighbors worth $16.3 billion. By 2005, those checks totaled $33.3 billion.

    Today, Mr. Obama and many congressional Democrats want the "wealthy" to pay even more so there is more money for them to redistribute. The president says he wants the wealthy to pay their "fair share." Who can argue with that? But he never defines what that means. Is it fair for 10% to pay 70% of the income tax? Does he believe they should pay 75%, or 95%, or does fairness mean they should pay it all? It's clever politics to speak like that, but it is risky policy."
     
  2. Bisi

    Bisi TS Member

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    Yes I still pay income tax, just efiled em today, but I'm thinking about joining the other side. I've been on the paying side for 30 years now, think I'll make a change to see how the other side lives.
     
  3. waterhouselake

    waterhouselake TS Member

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    Any wonder why the framers prohibited an income tax....
     
  4. grnberetcj

    grnberetcj Active Member

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    I used to have a gross income of approx. $250K....but will not for the future tax years of this administration.

    I am fastly becoming a non-entity as far as income/taxation are concerned.

    Just gotta love the Caymen's!!

    Curt
     
  5. Gunnerandbabe

    Gunnerandbabe TS Member

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    PAY and PAY and PAY and PAY
     
  6. shannon391

    shannon391 Active Member

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    Every quarter, then again for personal at year end.

    Checks going in mail today, estimated first quarter and year end due at same time.
     
  7. mixer

    mixer Well-Known Member

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    Ok, How would people feel about a flat income tax of say 15% of your gross income? No deductions for anything. You make $40k, you pay $6k, you make $100k, you pay $15k, etc, etc. Now 15% may not be the right percentage but you get the idea.

    Eric
     
  8. grnberetcj

    grnberetcj Active Member

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    I used to have a gross income of approx. $250K....but will not for the future tax years of this administration.

    I am fastly becoming a non-entity as far as income/taxation are concerned.

    Just gotta love the Caymen's!!

    Curt
     
  9. Gunnerandbabe

    Gunnerandbabe TS Member

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    PAY and PAY and PAY and PAY
     
  10. shannon391

    shannon391 Active Member

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    Every quarter, then again for personal at year end.

    Checks going in mail today, estimated first quarter and year end due at same time.
     
  11. mixer

    mixer Well-Known Member

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    Ok, How would people feel about a flat income tax of say 15% of your gross income? No deductions for anything. You make $40k, you pay $6k, you make $100k, you pay $15k, etc, etc. Now 15% may not be the right percentage but you get the idea.

    Eric
     
  12. AJKohler

    AJKohler Member

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    I don't pay income taxes; I'm holding out for a cabinet position and I wouldn't want to be overqualified.

    Tony
     
  13. Bob Hawkes

    Bob Hawkes Well-Known Member

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    Mixer, I'd pay that in a heartbeat! Unfortunately, you're going to see us paying even more than we do now. Anyone who thinks the middle class isn't going to be paying more very shortly has their head where the sun don't shine. Good luck, Bob
     
  14. daddiooo

    daddiooo TS Supporters TS Supporters

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    I'm not paying mine until they appoint me to a cabinet post.....
     
  15. TC

    TC TS Member

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    We need everyone to pay their share of taxes. It doesn't matter if their income is $15,000 or $250,000. And it should be the same percentage for all income levels with no deductions for anything. A 5% rate on $250,000 is as "fair" as 5% on $15,000.

    When a portion of the population pays nothing they no longer have a "position" in amounts and subsequent distribution of the tax dollars. They are only concerned with what they can "get" from the goverment.

    Also, everyone should have to pay taxes on a regular monthly or quarterly basis. No automatic withholding. People need to feel the "pinch" just like a mortgage or rent payment every month.

    This why we are having the problems today.
     
  16. spitter

    spitter Well-Known Member TS Supporters

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    I estimate quarterly and usually get a nominal refund (applied to next year) - better to overpay than to underpay!

    A flat tax appears fair to all, but there is a segment of the population that gets disadvantaged in a regressive tax. Take sales taxes - everyone pays the same rate in a given state, but the family that earns $100,000 and buys $200 in groceries is less burdened than the family earning $15,000 and buying the same food.

    I think if we required welfare receipients to work for their stipend, we'd all feel better that we got something in return. No good solution at this point!

    regards to all,

    Jay Spitz
     
  17. JasonH

    JasonH TS Member

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    I dont read anywhere that the founders intended anyone to pay a direct income tax. That would assume that the government owns you and they decide how much of your fruits of labor they intend to give back to you.... There are however, provisions in the constitution for corporations and the taxes they must contribute.... When we all(THE PEOPLE) realize that the income tax is a fraud, and rebuke the idea that "the burden" must be shared by all, we will then start to fix the problem.......THERE IS NO LAW that says we pay a income tax...And with some checking, I think there is still a handsome reward for the person who finds it....Many an IRS employees have tried and failed at thier own game......Joe Bannister comes to mind....The Libertarian and Constitutional parties have given the figure that, you could eliminate the income tax today and still have the same federal budget as the year 2000...I thought government was big enough then..... and continues to expand by leaps and bounds yearly.... Good Luck everyone...
     
  18. darr

    darr Well-Known Member

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    I agree with the flat tax with no deductions except one,charity.The moment charitible giving is not tax deductible the government decides who deserves charity and who does not.The democrats hate that deduction.Their idea of charity is forcibly taking money,ie taxes,and giving it to who they please.In other words stealing.By the way,it has been a long time since I haven't had to write a rediculous check to the IRS and the state.

    Darr
     
  19. grunt

    grunt TS Supporters TS Supporters

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    We get to give some of our tax money to illegals.
     
  20. Frank C

    Frank C Well-Known Member

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    No I don't PAY it, they TAKE it from me...
     
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