45% of American's Pay No Income Tax | |
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tradecraft
(OP) User ID: 1010412 United States 02/25/2016 09:56 AM Report Abusive Post Report Copyright Violation | -snip- Despite the fact that rich people paying little in the way of income taxes makes plenty of headlines, this is the exception to the rule: The top 1 percent of taxpayers pay a higher effective income tax rate than any other group (around 23 percent, according to a report released by the Tax Policy Center in 2014) — nearly seven times higher than those in the bottom 50 percent. Quoting: the article-snip- People who work for a living are being overwhelmed by people who vote for a living |
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Mkguyver
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Bugabooboo
User ID: 19427488 United States 02/25/2016 10:29 AM Report Abusive Post Report Copyright Violation | How do you tax a population of which is making $8 per hour.. The majority of which are one paycheck from living on the street~? Excise Taxes... That's How.. There are ramifications for having a nation of poor people... Quoting: Anonymous Coward 69991717 Do you mean an excise tax like what is on cigarettes, gas, and alcohol? I would say they probably pay plenty already! I don't know what the answer is. One third of my check is gone before I get it, some going to health insurance as well as SS, Medicare, Fed and State income tax. This is one thing about hiring illegals. They get paid under the table saving the employer 6.5% on SS. The employers are just as guilty as the illegals. |
Anonymous Coward User ID: 71515968 United States 02/25/2016 10:46 AM Report Abusive Post Report Copyright Violation | A more useful number would be the percent of people who pay no SS tax. And another number would be those who pay no SS tax that are not retired. You get stuck with SS tax on "earned" income from the start, unlike income tax where the first 10K+ is untaxed. Sometimes much more. I live a low income lifestyle by choice, so I can do as I wish. I have money that doesn't need spending. |
Anonymous Coward User ID: 71548586 India 02/25/2016 10:53 AM Report Abusive Post Report Copyright Violation | Many Americans don’t have to worry about giving Uncle Sam part of their hard-earned cash for their income taxes this year. Quoting: tradecraft An estimated 45.3 percent of American households — roughly 77.5 million — will pay no federal individual income tax, according to data for the 2015 tax year from the Tax Policy Center, a nonpartisan Washington-based research group. (Note that this does not necessarily mean they won’t owe their states income tax.) Roughly half pay no federal income tax because they have no taxable income, and the other roughly half get enough tax breaks to erase their tax liability, explains Roberton Williams, a senior fellow at the Tax Policy Center. Less than 50% [link to nypost.com] as an expat american,i no longer pay taxes..i used to work in california and then left in 2008 |
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Anonymous Coward User ID: 71548709 United States 02/25/2016 10:54 AM Report Abusive Post Report Copyright Violation | How do you tax a population of which is making $8 per hour.. The majority of which are one paycheck from living on the street~? Excise Taxes... That's How.. There are ramifications for having a nation of poor people... Quoting: Anonymous Coward 69991717 Do you mean an excise tax like what is on cigarettes, gas, and alcohol? I would say they probably pay plenty already! I don't know what the answer is. One third of my check is gone before I get it, some going to health insurance as well as SS, Medicare, Fed and State income tax. This is one thing about hiring illegals. They get paid under the table saving the employer 6.5% on SS. The employers are just as guilty as the illegals. That was kinda my point.. The poor are taxed.. Just differently than the wealthy.. I'm self employed and make $120,000 per year.. Quickbooks say's my tax rate~? ie: federal, state, local, fuel, SSI, medicare & mandated fees~? My tax rate is 43% of my income.. |
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phillk6751
User ID: 3570422 United States 02/25/2016 10:57 AM Report Abusive Post Report Copyright Violation | |
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Anonymous Coward User ID: 71260721 United States 02/25/2016 11:07 AM Report Abusive Post Report Copyright Violation | It is a drop in the bucket compared to what the banks are stealing from us. Quoting: Anonymous Coward 44241749 That's for sure.. The guberment indicates only 5% of white collar theft is prosecuted.. This means~? Banks and Corporations are stealing hundreds of billions every year.. make it trillions , let's be honest I'm not joking Everyone who should pay income tax must at least file return and at the same time this person pays unknown number of mandatory taxes / sales ,property, maintenance plus whatever else is taken under threat / |
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Anonymous Coward User ID: 71548586 India 02/25/2016 11:09 AM Report Abusive Post Report Copyright Violation | Many Americans don’t have to worry about giving Uncle Sam part of their hard-earned cash for their income taxes this year. Quoting: tradecraft An estimated 45.3 percent of American households — roughly 77.5 million — will pay no federal individual income tax, according to data for the 2015 tax year from the Tax Policy Center, a nonpartisan Washington-based research group. (Note that this does not necessarily mean they won’t owe their states income tax.) Roughly half pay no federal income tax because they have no taxable income, and the other roughly half get enough tax breaks to erase their tax liability, explains Roberton Williams, a senior fellow at the Tax Policy Center. Less than 50% [link to nypost.com] OP let me ask one question: Why do you need income tax in first place? Fedral-state-local govt and number of govt agencies have imposed millions of taxes on people why to keep income tax alive the real tax paid by people is more than 70% now that's why people in USA are so poor,despite getting all wealth |
Anonymous Coward User ID: 64805035 Canada 02/25/2016 11:10 AM Report Abusive Post Report Copyright Violation | Read section 2 and section 4 of IRS manual 6209 and you will find that you do not ow any tax either. Quoting: Bullwinkle 71388322 Everyone is considered a legal corporation and taxable until they make a formal declaration stating otherwise. Most people have no clue how to get out of that loop hole and even if they did, you would never be able to work or earn money again because you wouldn't be bondable, and thusly not hireable. |
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777organic777
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PACNWGUY-01
User ID: 70621256 United States 02/25/2016 11:21 AM Report Abusive Post Report Copyright Violation | I like the value added tax best for Federal Income taxes. No State income tax in Washington. WA has a 8.5% sales tax and that seems to do the trick. There will be a time in the not so distant future when they will hunt Liberals with DOGS. Democrats vote for what benefits them while Republicans vote for what benefits the country. |