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Only 45% pay income tax

Discussion in 'Off Topic Threads' started by smsnyder, Apr 18, 2011.

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  1. smsnyder

    smsnyder Well-Known Member

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    Heard it on CNN news. Only 45% of the public pay income tax. Figure that?
     
  2. W.P.T.

    W.P.T. TS Member

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    The other 55% are on Welfare of one sort or another ... This is one of them changes Obama had in store for America ... WPT ... (YAC) ...
     
  3. smsnyder

    smsnyder Well-Known Member

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    Yea spread the wealth. LOL
     
  4. nubs

    nubs TS Member

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    I wonder what percent of them are seniors on s.s. or med.care
     
  5. Bob Schultz

    Bob Schultz Well-Known Member Supporting Vendor

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    What's really scary is if you subtract all the federal employees who are paid by the private sector's taxes (those who actually make money), only about 35 percent of the population pays taxes!

    Remember for the most part government employees are a dead expense to the tax payer. There are some that provide the necessary things like police, fire, EMT's and of course the US Armed forces.( Who in my opinion should be paid more...) Some actually generate a little revenue however they rarely "make" the government (read "us") any money. Most often they offset the cost to the taxpayer a little.

    The folks on S.S. or Medicare paid in and they are entitled to the benefit. All the illegal aliens that are getting it are NOT entitled to anything except a bus ticket back to the border...

    Bob Schultz
     
  6. Steve W

    Steve W Well-Known Member

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    And the top 5 percent of taxpayers paid more than one-half (53.8 percent) of all individual income taxes.
     
  7. howie

    howie Member

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    The key to that statement is INCOME TAX. Many people with a decent amount of income pay no income tax. I volunteer as a tax preparer and see them every day. Many are seniors with limited incomes, other than social security. Under a certain amount on income social security is not taxed. Also, younger people with kids get the child tax credit, if kid(s) are in college they can get the American Opportunity Credit. Also this year I saw a lot of people cashing on the the last year of the $1500 home improvement energy credit. Finally, if you have kids and have a low enough income -- up to almost $50,000 if you're married -- you can qualify for the Earned income credit. All of these credits offset income tax in one way or another and can result in people not paying any income taxes.

    Even if you don't pay income taxes, all working people pay payroll taxes, social security, medicare and here in Ohio city income taxes. Those are not trivial and can add up to a bunch of money for many people. It is not uncommon be see little or no income taxes paid and $1,000 - $2,000 in payroll taxes from many middle income people.
     
  8. Setterman

    Setterman Well-Known Member

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    Implement a flat tax. And get rid rid of loopholes, write offs, and subsidies. Of course health care plans would be considered income too, as they are a benefit. That would include union and non union plans.
     
  9. bigdogtx

    bigdogtx Well-Known Member

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    Which is exactly why, "Raise taxes on the rich", resonates so well,,,,those that don't have to pay taxes don't care and probably want taxes raised,,,,it is back to the "it doesn't affect me so it must be a good idea",,,,Flat tax has everybody "in the game" and that would make D.C. listen more intently when the talk of raising tax rates,,,,it would affect ALL workers....
     
  10. grnberetcj

    grnberetcj Active Member

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    A "FAIR/FLAT" type tax with no deductions and/or loopholes.

    Also, the only people that should be allowed to vote are property owners and those currently in the U.S. Armed Forces.

    No vested interest in your country (and state), no vote.

    Curt
     
  11. GW22

    GW22 Active Member

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    Please don't perpetuate the "FLAT TAX" notion without thinking it through. Despite the mythical belief that "Rich people don't pay taxes," as Steve W. indicated, high earners actually pay a massively disportionate amount of the nation's total income taxes. A flat tax means everyone pays a FIXED percentage of their income (hence the term "flat"). Although it would be nice to get 15% or 20% from those currently paying little or nothing, a flat tax would be a total wet dream for people on the high end of the income spectrum. This would devastate revenue and those of us in the middle would end up, as always, getting screwed.

    -Gary
     
  12. Stl Flyn

    Stl Flyn Well-Known Member

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    Click on the link above to read for yourselves. Some of this information may suprise you. Tax breaks, and write-offs benifit all people in all income brackets, to the point where even some of the super wealthy pay very little income tax. I remember Ted Turner once said in a interview, "You will never become wealthy unless your tax obligations are in order". Or something very close to this. Meaning use tax breaks, credits, and write-offs to the max.
     
  13. BILL GRILL

    BILL GRILL Well-Known Member

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    Ok, So how many people do you know who do not pay income tax? I know alot of people and I can tell you a heck of alot more of them than 55 per cent pay income tax. Maybe I hang around in the wrong circles or live in the wrong part of the country? Bill
     
  14. Porcupine

    Porcupine Active Member

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    Even if a so-called 'flat tax' was somehow exchanged for our current system of taxation, how long do you think it would be before the super-rich begin to lobby their legislators all over again for favorable tax law changes? And they'd get it, too! We'd eventually end up with exactly the same type of system that we have right now!

    LA in MA
     
  15. bigdogtx

    bigdogtx Well-Known Member

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    Gary, sorry but you are wrong on this one,,,,a flat tax is just that,,,,you make $1,000,000 you would pay $150,000,,,,$100,000 - $15,000,,,,$50,000 - $7,500,,,,you may not remember but when Reagan reduced the highest marginal rate from 70% to 28%,,,,wait for it,,,,revenue INCREASED,,,,in addition to reducing the rate, he also eliminated many deductions, thereby also reducing the incentive in trying the "games" to be paying less,,,,the problem came when Tippy spent too much....

    You feel that we need to stick it to the "rich",,,,a friend of mine is contemplating moving his corporation out of the country as taxes and restrictions are taking out all the incentive to stay here,,,,adds up to about 30 jobs and $1.5 million in revenue leaving....
     
  16. Brian in Oregon

    Brian in Oregon Well-Known Member

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    <i>"Also, the only people that should be allowed to vote are property owners and those currently in the U.S. Armed Forces. "</i>

    Couple of interesting points....

    Germany in the 19th century had a law that those on the public dole... meaning state support ie welfare... could not vote. Their voting rights were restored when they came off the public dole and became self-sufficient. This is because the Germans recognized the problem with those on public support reaching large enough numbers to influence elections, thus being able to literally vote themselves more money. Sound familiar?

    As for voting by the military, Robert Heinlein's science fiction book "Starship Troopers" had a future world where only veterans could vote at all, because they risked all. They were "citizens", the rest were simply the public.
     
  17. GW22

    GW22 Active Member

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    BigDog:

    Listen, I LOVED Ronald Reagan. Best President of my lifetime without a doubt. But the fact is that he ended up having to raise taxes. People forget that part.

    And don't say I'm for "sticking it to the rich." That's not how I feel. But is it fair for a struggling family, whose rent might be 40% of their net pay to pay the same percentage income tax as Bill Gates? Of course not. Fair is fair, but those who make millions of dollars per year should pay a higher percentage income tax. Not repressively high, mind you -- just fair and commensurate with what they've reaped.

    I'll give you a micro-example: My 67 year-old boss was promoted and made about $400K/year. He's a millionaire MANY times over and he laughs about how much money his accountant saves him with LEGAL hocus-pocus doing his taxes. His 17 year-old son is actually drawing a monthly Social Security check. Does that seem fair?

    -Gary
     
  18. shelly

    shelly TS Member

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    Somebody got it backwards, as the above URL shows. 45% don't pay income taxes which means that 55% pay them. Still, the number who don't pay anything is way toooooooo low.
     
  19. GW22

    GW22 Active Member

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    Everybody making over $10K should pay at least 5%, merely for the benefits of living here. That alone would generate many 10s of billions of dollars each year.

    And getting back more than you paid in (making a net profit due to the Earned Income Credit and other bullshit) should be stopped. Nobody should turn a profit (pay negative taxes) but you'd be shocked at how many do.

    -Gary
     
  20. JohnBT

    JohnBT TS Member

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    My parents didn't pay income taxes on an AGI of about $94k this year. I have done their taxes the past 4 years and they have massive medical deductions.

    Dad is 89 and in intensive assisted living. Might as well call it a nursing home, because the cost works out the same way because he pays a home health aide for 2 hours a day to use a lift to get him out of bed, onto the toilet, dressed, etc. (fwiw, he has 2 honorable discharges from the Army Air Force. He served in the Pacific in WWII in the 13th Jungle Air Force.)

    Mom is 86 and bedridden with Alzheimer's. She is bedridden because she forgot how to walk 3 years ago. She can chew if somebody feeds her. She hasn't known me for 5 years or what state she lives in.

    Their total bill is about $16k a month. Cash.

    How much should they be paying in taxes out of their savings? Anybody? The money was taxed when they made it and then taxed when they invested it and made money.
     
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