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Originally posted by Rockpuck
reply to post by ImaNutter
Some tax brackets are across the board the same percentage, and some you never get back. SS for example, everyone pays.
State Income depends on if your state even has that tax, and if it does, yes, everyone gets deducted.. of course, it all depends on what you list as dependants. Then, if your a frequent flyer in the no-tax bracket, you can simply check "exempt" on Federal W4.
But assuming your poor, and you pay federal/state and medicaid etc .. sure, you pay taxes however..
1. You get ALL your federal dollars back, if your married and you have children and you qualify for at least one credit, you get a surplus.. you get what you paid PLUS additional funds.
3. If you pay into medicaid and you use medicaid (where as middle class people cannot use social services) .. imo, you didn't pay a tax you paid a premium since your getting the service subsidized by the middle class.
Having a low income is not the sole requirement for receiving Medicaid assistance. There are many
people who are poor, with incomes below the poverty level, who do not meet Medicaid requirements
because they do not fit within the designated eligibility groups.
Generally these groups of people can receive Medicaid assistance:
* Pregnant women and children under 6 with family income at or below 133% of the federal
poverty level. Based on 2009 Federal Poverty Guidelines, a family of two would need an
income less than $19, 378 to qualify for Medicaid assistance.
* Children ages 6 to 19 qualify with a family income at or below the federal poverty level.
* Adults who take care of children under age 18.
* Individuals who receive Supplemental Security Income
* Teenagers up to age 21 who are living on their own
* People who are over 65, blind or disabled
Some individuals who do not meet the income requirements may still receive Medicaid benefits because
they are medically-needy. The following states have medically needy Medicaid programs:
* the District of
* New Hampshire
* New Jersey
* New York
* North Carolina
* North Dakota
* Puerto Rico
* Rhode Island
* West Virginia
No.... the poor don't pay taxes.
but assuming your poor, and you pay federal/state and medicaid etc .. sure, you pay taxes however..
When we say this, we imply there are levels of taxation that they are exempt.. Federal Income being the biggest one, regardless if they paid into it or not.. they get it back .. nothing more than a piggybank.
About 500,000 boat owners nationwide can decrease their income-tax bill every year by declaring their vessels a second home. Some others collect healthy deductions from putting their boats into charter arrangements that may skirt the provisions of the tax code. And some corporations take deductions on yachts that seem to stretch the definition of a business resource.
Originally posted by TheComte
reply to post by jdub297
Your whole post is BS.
Of course the rich don't pay their fair share of taxes. They can afford to hire accountants that know how to hide income. Simple as that.
You're trying to make it sound like they don't try to get out of paying tax. What utter rubbish.
LOL @ offshore accounts used to protect assets from seizure.
Yeah, that's why the IRS is trying to find all the secret accounts, because everyone has a judgment against them. NO, it's because they are evading their income tax.
The IRS is intensifying its hunt for secret offshore banking ... after more than 7,500 Americans revealed undeclared accounts ... .
Americans coming forward before today’s deadline to take advantage of a partial amnesty have revealed accounts ranging in value from $10,000 to more than $100 million.
Taxpayers disclosed assets that came from inheritances, profits skimmed from U.S. businesses, and international business transactions, he said.
No one should be exempt from taxation while others pay for their services.
Do you realize how poor these people actually are, that get money back? How much do you suggest taking on top of sales tax, income tax, property taxes, etc etc from the $15,000 a year these people are making? You can work at McD's and still pay federal income tax....
You should brush up on your medicaid to correct your opinion.
Just as there are deductions and credits available to the rich which will never, ever be available to the bottom half. You really think the poor are the ones cheating you?
THE ENTIRE UNITED STATES POPULATION IS BEING OVER TAXED!
Originally posted by faceoff85
reply to post by Helghast1
Trying to start a convo by adding a controversial standpoint? At least thats what I think you're doing.. nobody in their right mind could propose something like that, and mean it...
The bottom 20 percent of income earners' share of federal income taxes fell from -1.6 percent in 2000 to -2.8 percent in 2006.
The next 20 percent's share declined from 1.1 percent to -0.8 percent
The bottom 20 percent shared .8 of the tax liability while the top 20 percent's share was 69.3%.
(Reuters) - Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, . . .
25%, which is what I believe it should be across the board no matter how much you make.
Trust me I know. Being poor and white and a male I can never receive medical aid from any agency, be it state, federal, or even local. Being poor isn't the sole requirement, specifically children is, however a middle class family still has to pay, while poor do not.
The entire point: You have to be poor. So I fail to see why your panties are in a bunch trying to argue with me when you've only backed what I said?
but that's regardless and besides the point. If the "rich" get a deduction, it's only a small portion of their total tax obligation. The problem with the poor is that after deduction and credit, they get a SURPLUS of money, they take back more than paid in.
Agreed. Which is why I favor either a flat sales tax of 50% or a income tax of 25%. Regardless of how poor you are. No deductions, no credits, you make it you pay.
ExxonMobil corporate tax for 2004: $27.9billion
2004 Total number of tax returns: 130 million
Number of Tax Returns for the Bottom 50%: 65 million
Adjusted Gross Income for the Bottom 50%: $922 billion
Total Income Tax Paid by the Bottom 50%: $27.4 billion
Conclusion: In other words, just one corporation (Exxon Mobil) paid as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people!
Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2004 ($67.4 billion in taxable income, $27.9 billion in taxes).
Contrary to popular misconception, the ultimate burden of corporate income taxes doesn't fall on corporations, but is instead borne by workers, shareholders and consumers.