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Nearly half of US households escape fed income tax! Crazy!!

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posted on Apr, 7 2010 @ 03:04 PM
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Article:

WASHINGTON (AP) -- 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.

Source: finance.yahoo.com...

With all the speading POTUS and the Dems are doing, WE'RE SCREWED and we don't even realize it yet.




posted on Apr, 7 2010 @ 03:07 PM
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reply to post by anon72
 


Oh no, a great many of us realize it! That is why we fight so hard against the current system - it us UNSUSTAINABLE! Sadly, there are too many people with an entitlement attitude to support it. It will collapse under its own weight soon enough!



posted on Apr, 7 2010 @ 03:10 PM
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It's an outrage that those 47% get to vote for people who will give them more of other peoples money.

Sooner or later the system will collapse, and those who pay nothing will be the first to rightly suffer



posted on Apr, 7 2010 @ 03:32 PM
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The founders warned that when we start voting ourselves money the end of the republic will not be far behind. I truly believe that this road we're on will eventually send us off a cliff.



posted on Apr, 7 2010 @ 03:34 PM
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reply to post by projectvxn
 


Amen brother!!! Benjamin Franklin: "When the people realize that they can vote themselves money, that will herald the end of the republic!"

Pretty soon we are going to run out of other people's money - if we haven't already!



posted on Apr, 7 2010 @ 03:42 PM
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Off a cliff indeed. But look at the bright side, you can recolonize at the bottom!

The way you want it!

[edit on 7-4-2010 by gandhi]



posted on Apr, 7 2010 @ 03:45 PM
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Still to ponder:

What are we going to do about Social Security and Medicare?

Baby Boomers are all retiring, both programs are broke, not enough people left working to fund it.

No answers, no one is even asking the questions. Hide and deny. If it's not talked about, maybe it will go away, right?

Uh huh...

[edit on 7-4-2010 by LadySkadi]



posted on Apr, 7 2010 @ 03:51 PM
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Originally posted by brainwrek
It's an outrage that those 47% get to vote for people who will give them more of other peoples money.

Sooner or later the system will collapse, and those who pay nothing will be the first to rightly suffer


It's an outrage you don't even know what your talking about.

Only 32% of the USA voted. And the poor cannot afford to drive to the ballot box anyway.

Get your facts straight.

The rest well, is your deluded opinion!

[edit on 7-4-2010 by muzzleflash]



posted on Apr, 7 2010 @ 03:55 PM
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I want to know why I wasn't in the group that didn't have to pay!

I am definitely in a 'low-income' situation, yet for the first time in like 10 years, I owed the government more money than I had on hand.

BTW - the "entitlement" problem is not limited to simple run-of-the-mill citizens.... it's embedded in our perpetual leadership caste as well.



posted on Apr, 7 2010 @ 04:01 PM
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It's not that most of that 47% will pay no taxes, but rather get a partial refund of their compulsory zero-interest loan to the government. The reason they will get a refund is that they didn't earn enough money to to leave anything to tax, not becuase theyare getting a free ride.

On the other hand:


Think about this as you sign that check to Uncle Sam next week: More than 60% of all U.S. companies paid no federal tax at all during the boom years of 1996 to 2000, the General Accounting Office reports.

In 2000 alone, 94% of all U.S. corporations paid less than 5% of their total income in corporate taxes, the GAO said in a report released Friday. Among the largest corporations -- the 1% of all corporations that owns 93% of all corporate assets -- 82% paid less than 5% of their income in taxes.

And it wasnt just American companies avoiding a bill. About 70% of foreign-owned companies doing business in the United States paid no federal tax in the late 1990s, the GAO said. The GAO report covered 2.1 million returns by U.S. companies and 69,000 foreign companies.


moneycentral.msn.com...


Over at ThinkProgress, Ben Armbruster highlighted a Forbes report on the taxes paid by top corporations last year. According to Forbes, General Electric managed to make $10.3 billion in pretax income, but paid nothing into the U.S. Treasury, as it counted its losses in the U.S., while registering its profits overseas. As Forbes put it, “GE Capital has displayed an uncanny ability to lose lots of money in the U.S. (posting a $6.5 billion loss in 2009), and make lots of money overseas (a $4.3 billion gain).”

And then there’s Exxon-Mobil, which paid more in income taxes than any other U.S. company last year, just none of it to the U.S.:
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.

Instead, the $15 billion was divided among the countries where Exxon has set up one of its hundreds of foreign subsidiaries. In total, Exxon 122 foreign subsidiaries, including 32 in countries that are officially labeled tax havens by the U.S. government. It has 18 subsidiaries in the Bahamas, and 3 each in the Cayman Islands, Hong Kong, and Singapore.


wonkroom.thinkprogress.org...

Just a reality check.



posted on Apr, 7 2010 @ 04:27 PM
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reply to post by muzzleflash
 


Do you really think none of those 47% that dont pay a dime didnt vote?

Seriously?



posted on Apr, 7 2010 @ 04:37 PM
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Give me a break.

Those 47% paid taxes, they dont get back out of the paycheck medicare or SS taxes.

Not to mention the taxes they pay each time they consume which we all know the poor are that way because they CONSUME with their incomes, not save (because there isnt enough to save, and it is a mindset, but why go on trying to explain the socioeconomics involved here when all some people wanna do is bash).

Please, whats with the bashing of those poor enough to not play into the federal government's ridiculous and possibly illegal federal taxation? Jealousy? These people may not pay federal taxes, but they are not getting out of paying taxes.

Whats the point being made here?

Poor folks done bankrupted the federal government? Its all the fault of those poor folk not paying federal taxes that our country is failing?

Why do some people feel the bitter need to always bash the poor? Is it the assumption of welfare? Tax refunds are not welfare.

As far as voting goes, the only requirement is citizenship. Paying federal taxes has NOTHING to do with voting.

[edit on 7-4-2010 by hotbakedtater]



posted on Apr, 7 2010 @ 05:24 PM
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reply to post by hotbakedtater
 


Tax refunds are in fact welfare if they receive more than was withheld.

Ever heard of the EITC?

The poor, and the entitlement programs associated with them, are and will be a major cause of the financial downfall this country will go through.

Thats not bashing the poor, thats stating fact.

As for voting, only those who actually PAY (as in not have everything refunded to you) should be allowed to vote. Why should someone who inputs nothing be able to decide how other peoples money is spent?

[edit on 7-4-2010 by brainwrek]



posted on Apr, 7 2010 @ 05:45 PM
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reply to post by brainwrek
 


So you're saying all those citizens of the U.S. that voted prior to the Federal Reserve Act which set up and allowed income tax on the citizens of the U.S. don't matter because they never paid an income tax?

This is flawed logic. So you get hurt and are disabled, and therefore cannot hold a job...result is you don't get to vote. You are self-employed and are paid through the bartering system (trade goods for services)....therefore you cannot vote.

What you are saying is those that are privileged and have a job that is reported to the state and federal levels and makes more than the national poverty level should be the only ones voting? Or if you make your withholdings 0...and let the government take as much as possible from you, you should also not be able to vote? So, 16 year olds that have a job where they clear over $15,000 should be allowed to vote?



posted on Apr, 7 2010 @ 06:14 PM
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Yea, those people not paying taxes are just so awful for having that non-liveable wage.

Having to decide whether to buy meds or buy food. Single mothers working 2 jobs. Having to face the embarrassment of going to the welfare office.

What a wonderful life they lead.


Guess what, the government loses 250 billion dollars in lost tax revenue EACH YEAR. Most is by corporations, not joe the plumber.



posted on Apr, 7 2010 @ 06:55 PM
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Yeah why not ask why so many people earn so little money ?

The wealth is extremely concentrated into the hands of a few.
I don't buy that they work so much harder and deserve it all.
Labor from a salary or wages, up to at least the first $100,000 a year, shouldn't be taxed at all. The burdeon of the govt's revenues should come from taxing accumulated wealth and investment income.



posted on Apr, 7 2010 @ 06:59 PM
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Originally posted by brainwrek
reply to post by hotbakedtater
 


Tax refunds are in fact welfare if they receive more than was withheld.

Ever heard of the EITC?

The poor, and the entitlement programs associated with them, are and will be a major cause of the financial downfall this country will go through.

Thats not bashing the poor, thats stating fact.

As for voting, only those who actually PAY (as in not have everything refunded to you) should be allowed to vote. Why should someone who inputs nothing be able to decide how other peoples money is spent?

[edit on 7-4-2010 by brainwrek]
Good luck running for office, because until you do you really have no power to change the laws as written. Anyone with half a brain can figure out how to use the TAX SYSTEM to their advantage. You sound like sour grapes you had to pay in or something.

Thanks for ignoring all of my valid points, btw, on how those who get REFUNDS are CONTRIBUTING to the SYSTEM and no matter how many times you say it tax refunds are not welfare.

Thank you for your discourse on the matter.



posted on Apr, 7 2010 @ 07:07 PM
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See how deep the brainwashing goes?

Half of the thread actually preconcieves that we must pay taxes!

I thought income taxes were supposed to illegal on ATS.

Actually I like the Fair Tax idea. Google it for yourself/country/children



posted on Apr, 7 2010 @ 07:12 PM
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Originally posted by Schaden
Yeah why not ask why so many people earn so little money ?

The wealth is extremely concentrated into the hands of a few.
I don't buy that they work so much harder and deserve it all.
Labor from a salary or wages, up to at least the first $100,000 a year, shouldn't be taxed at all. The burdeon of the govt's revenues should come from taxing accumulated wealth and investment income.
You raise an excellent point I myself would have raised, and thought of, but considering the OP politicized the thread from the get go I honestly thought no one would be here in this thread who was thinking beyond the refund is welfare and dirty dems mindset.

I too agree the bigger question is why ARE half of our citizens making so little?

I guess people who feel refunds are welfare need someone to hand them their starbucks at the drive through window.

One half of us serves the other half.

Yeah America!!



posted on Apr, 7 2010 @ 07:53 PM
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Originally posted by brainwrek
reply to post by hotbakedtater
 


Tax refunds are in fact welfare if they receive more than was withheld.

Ever heard of the EITC?


No, I hadn't. And thanks to you I looked it up! Wow! I always thought you could never get back more than you paid in taxes. WRONG. With EITC certain low-income people can actually get back MORE than they paid in.
This is not to judge poor people, I'm poor myself. It doesn't sit well with me that this program exists. We have other programs to help the poor but this one just doesn't seem right.
Of course the biggest non-contributors are our dear Corporations who move their profits offshore while claiming billion dollar losses at home. Corporations like who you ask? GE and Exxon-Mobil for starters.

Thanks for the info Brainwrek, this is why I love ATS, I learn something new everyday (and not just about Nibiru :lol



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