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Originally posted by Red Cloak
Right wing talk radio and Fox News started all this crazy nonsense about 47% of Americans not paying taxes (which is totally absurd and untrue).
Originally posted by OccamsRazor04
reply to post by Red Cloak
Federal income taxes. I believe it is true. You are wrong.
the Tax Policy Center, which provides data showing that in 2011, 46.4 percent of American households paid no federal income tax.
www.cbsnews.com...
Low income. There's no income tax if your income falls below a certain threshold. For a family of four, that threshold was $26,400 last year.
Benefits for the elderly. Some Social Security payments are not taxed as income. The elderly also get an extra standard deduction that lowers their taxes, in some cases to zero.
Benefits for the working poor and children. These include the earned income tax credit, the child tax credit, and the child care tax credit. Because of these special benefits, a family of four (two parents, two children) earning up to $45,775 last year would not have had to pay income taxes, primarily because of special credits for children.
Other benefits. This includes itemized deductions, tax credits for education, and the income tax exemptions for everything from disability payments to interest on municipal bonds
This one shows a breakdown by annual income of all households that pay no income tax.
Among those households paying neither income tax nor payroll tax, almost all are either elderly or earning less than $20,000 a year. Here's a graphic from the Tax Policy Center that breaks this down.
So why not release a nice even five years of tax data? Perhaps because of something that happened in 2009.
Something like this:
Wealthy U.S. taxpayers, concerned about an Internal Revenue Service crackdown on the use of secret overseas bank accounts as tax havens, are rushing to meet a Thursday deadline to disclose those accounts or face possible criminal prosecution. The concern was triggered this summer when Switzerland's largest bank, caught up in an international tax evasion dispute, said it would disclose the names of more than 4,000 of its U.S. account holders.
The decision shattered a long-held belief that Swiss banks would guard the identities of its American customers as carefully as they did their money, and it raised concern that other international tax havens might be next. Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for having failed to report their overseas accounts. As a result, tax attorneys across the nation have been besieged by wealthy clients who are lining up to apply even though they will still face big financial penalties.
Originally posted by D1Useek
If you’re thinking of the tax at MacDonald’s or Burger King or the liquor store, we’re not counting that.
Originally posted by D1Useek
No they don’t. Less they half of this country pay taxes.
Originally posted by Benevolent Heretic
reply to post by Indigo5
Originally posted by Indigo5
...someone who hides thier vast fortune overseas to avoid paying taxes deriding half the country as "not taking responsibility for thier lives" for not contributing sufficiently in Federal Income Tax.
That is the real irony, isn't it? Too funny!
Originally posted by D1Useek
No they don’t. Less they half of this country pay taxes. If you’re thinking of the tax at MacDonald’s or Burger King or the liquor store, we’re not counting that. We’re talking about federal income tax, taken from a pay check. WIK, LINK and any other cards don’t count as income. I am one of the 42% that work for the 1% to support the 47%. You’re welcome.
Originally posted by ELectricalApprentice
He's projecting his own evils onto 47% of the population. All the things he accuses them of, the accused could also say about him. Personally, I don't think Obama is any different behind closed doors, but what do I know?
Originally posted by Indigo5
Memo To Mitt Romney: The 47% Pay Taxes Too
FORBES
A secret videotape of Republican Presidential candidate Mitt Romney talking at a private fundraising event earlier this year could revive—in virulent form— the debate Texas Gov. Rick Perry started last year when he complained of “the injustice that nearly half of all Americans don’t even pay any income tax.”
Romney at his most candid and impolitic.
Here’s part of what he had to say:
There are 47 percent of the people who will vote for the president no matter what.
All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it.
That that’s an entitlement. And the government should give it to them. And they will vote for this president no matter what…These are people who pay no income tax….
"[M]y job is is not to worry about those people. I'll never convince them they should take responsibility and care for thier lives
OK...47%???
let me make a few serious points about the 46.4% of American households who paid no federal income taxes for 2011.
First of all, according to the Tax Policy Center, more than 60% of those non-income tax paying households did pay federal payroll taxes—meaning Social Security and Medicare taxes. (Considering all Americans households, including those that owed income tax, 62% paid more in payroll taxes than in federal income taxes.)
Payroll taxes..
What of the 18.1% of U.S. households that paid neither income nor payroll taxes? More than half of them were headed by a senior–in other words, by someone who paid payroll taxes and likely some income taxes too, in the past.
Half of that 47% percent are retired SENIORS...that take no "responsibility for thier lives"...moochers..
Tax Policy Center researchers calculate that 16.7 million elderly households will pay no tax in 2011 because of those two breaks and a special low income credit for the elderly.
By comparison, the earned income tax credit, the child credit and the child care credit combined keep only 11.5 million households with kids from paying income tax.
And the other taxes of daily living beyond Federal Income tax?
Of course, it goes without saying, that those folks who aren’t paying federal taxes are almost all paying state and local taxes—state sales taxes, real estate taxes (either on their homes or built into their rents) and possibly state income taxes too, since those taxes tend to exempt fewer poor families than does the federal income tax. If they buy gasoline, liquor or tobacco, or have telephones, they’re also feeding the federal purse.
Read that above list again...now multiply it by 99...who pays more in everyday tax? 99% of America or the 1%?
It doesn't take a genius to understand that 99% of America pays those gasoline taxes...taxes on the grocery bill, etc. etc. etc. 99 times more often than the 1% in any given year. And the 1% doesn't eat 99 times more food than the average person...use 99 times the amount of gas etc.
Not all of those escaping income taxes have modest incomes, however. In 2009, according to Internal Revenue Service studies, six of the 400 U.S. tax filers with the highest adjusted gross income (meaning AGI of at least $77 million) paid no U.S. income tax, while 19,551 U.S. households with income above $200,000 owed no U.S. or foreign income tax.
Some other stats...
This 47% also includes almost all US Soldiers...
It includes Half of all households making between 30k-40k
A Quarter of households making making between 50k-70k
It includes college students and those blue collar, hard working, middle class families.
Just so everyone knows who Romney and his surrogates are referring to with folks who "take no responsibility for thier lives" and are looking for "handouts"
Interested in opinions ....
edit on 18-9-2012 by Indigo5 because: (no reason given)edit on 18-9-2012 by Indigo5 because: (no reason given)edit on 18-9-2012 by Indigo5 because: (no reason given)
Originally posted by Indigo5
Originally posted by D1Useek
No they don’t. Less they half of this country pay taxes.
You are confused...perhaps read the thread?
Federal Income Tax only accounts for 27% of tax revenue for the government.
So you "Don't count" the vast majority of taxes? Convenient.....edit on 19-9-2012 by Indigo5 because: (no reason given)
Originally posted by jjkenobi
Originally posted by Indigo5
Originally posted by D1Useek
No they don’t. Less they half of this country pay taxes.
You are confused...perhaps read the thread?
Federal Income Tax only accounts for 27% of tax revenue for the government.
So you "Don't count" the vast majority of taxes? Convenient.....edit on 19-9-2012 by Indigo5 because: (no reason given)
Riiiiight. Those on govt assistance get money from the govt (hence govt assistance). Handed out to them. Welfare, Food Stamps, EBT cards, whatever you like there are hundreds of programs. So they take that free money and go buy something... a shirt, a Big Mac, an Xbox, an iPhone, gasoline.
It's like if I owe you $5 and I borrow another $20 from you to pay back the $5. You could say I paid you back, but really you're in the hole for even more now.
Originally posted by OccamsRazor04
Originally posted by Logarock
Originally posted by Indigo5
Originally posted by ELectricalApprentice
He's projecting his own evils onto 47% of the population. All the things he accuses them of, the accused could also say about him.
Well that is too honest an observation...someone who hides thier vast fortune overseas to avoid paying taxes deriding half the country as "not taking responsibility for thier lives" for not contributing sufficiently in Federal Income Tax.
Evils? Yes Mitt should want to make life as confortable as possible for the 47%. Poor little babies.....bad ol Mitt.
Lets face it .....for at least 1/2 of the 47% its a gravy train!!!!! You would have to walk through life with blinders on not to see this. What ever side of the deal your on, your a self deluded tool not to see it.
I do not know if I would go that far. But there are some segments of the population that will pretty much auto cast their vote for Obama. Some of these 47% are in that camp. Every black person I know, and let's face it, pretty much all the ones I don't know, will also auto cast for Obama. I tried having a discussion about the job growth report with a black co-worker and he wouldn't believe me. I brought up about 10 sources all saying the same thing. He wouldn't listen and stopped talking to me saying it was a lie. This is a smart college educated professional man too.
Originally posted by D1Useek
No they don’t. Less they half of this country pay taxes. If you’re thinking of the tax at MacDonald’s or Burger King or the liquor store, we’re not counting that. We’re talking about federal income tax, taken from a pay check. WIK, LINK and any other cards don’t count as income. I am one of the 42% that work for the 1% to support the 47%. You’re welcome.
Mitt Romney did not back down from the 47% statement and rightfully so. How can you apologize for people's blatant hypocrisy? This gravy train is headed towards a big wreck. Thankfully, most Americans are not on board and will not be.
Originally posted by buster2010
reply to post by alternateuniverse
Mitt Romney did not back down from the 47% statement and rightfully so. How can you apologize for people's blatant hypocrisy? This gravy train is headed towards a big wreck. Thankfully, most Americans are not on board and will not be.
Then why doesn't Mitt complain about the 4000 millionaires that pay no income tax. Or about corporations that pay no taxes but receive millions in returns. Those are the real freeloaders.
Originally posted by jimmyx
Originally posted by D1Useek
No they don’t. Less they half of this country pay taxes. If you’re thinking of the tax at MacDonald’s or Burger King or the liquor store, we’re not counting that. We’re talking about federal income tax, taken from a pay check. WIK, LINK and any other cards don’t count as income. I am one of the 42% that work for the 1% to support the 47%. You’re welcome.
mitt romney paid no FEDERAL INCOME TAX...he paid tax on his investments ONLY....amounting to (he claims) 13%...and only on investments the government forced him to reveal.