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44% (Read 105 times)
pg
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44%
04/19/17 at 17:08:35
 
More than four in 10 American households (44.3%) — or upwards of 76 million — didn’t pay any income tax to the federal government last year, according to data for 2016 from the Tax Policy Center. This year that number is expected to be roughly the same, at 43.9%.

Most of these people aren’t paying income taxes because they either don’t have any income that is taxable (many fall below the poverty line), or because they get enough tax breaks and don’t owe the government money. Common tax breaks include the child tax credit, the earned income tax credit (EITC), and the exclusion of some or all Social Security income, explains Roberton Williams of the Tax Policy Center.

http://www.taxpolicycenter.org/model-estimates/tax-units-zero-or-negative-inc...

Just for the record I advocate a flat tax.

Best regards,
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Re: 44%
Reply #1 - 04/20/17 at 09:44:19
 
pg wrote on 04/19/17 at 17:08:35:
More than four in 10 American households (44.3%) — or upwards of 76 million — didn’t pay any income tax to the federal government last year, according to data for 2016 from the Tax Policy Center. This year that number is expected to be roughly the same, at 43.9%.

Most of these people aren’t paying income taxes because they either don’t have any income that is taxable (many fall below the poverty line), or because they get enough tax breaks and don’t owe the government money. Common tax breaks include the child tax credit, the earned income tax credit (EITC), and the exclusion of some or all Social Security income, explains Roberton Williams of the Tax Policy Center.

http://www.taxpolicycenter.org/model-estimates/tax-units-zero-or-negative-inc...

Just for the record I advocate a flat tax.

Best regards,


That's somewhat misleading - about 60 percent of those who pay no income tax will work and owe payroll taxes. (Most of the other 40 percent are retirees whose income is too low to owe income tax.) Of those who work, two-thirds will have payroll tax liability in excess of any refundable income tax credits. Thus, only about 9 percent of households have their payroll tax fully (or more than fully) offset by those refundable credits.

As to the flat tax - not so sure.  Honestly, it wouldn't hurt me too much, but on people who live under the middle class, it's a heavier burden.

I favor tax policies we had under Eisenhower.
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Re: 44%
Reply #2 - 04/20/17 at 10:33:41
 
Not that the ones who need to know will read or, on the off chance they will read it, they won't understand.

http://laissez-fairerepublic.com/tenplanks.html
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The people never give up their liberties but under some delusion.- Edmund Burke.
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Re: 44%
Reply #3 - 04/20/17 at 10:40:20
 
justin_o_guy2 wrote on 04/20/17 at 10:33:41:
Not that the ones who need to know will read or, on the off chance they will read it, they won't understand.

http://laissez-fairerepublic.com/tenplanks.html


The Eisenhower administration was communist???

LOL
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Re: 44%
Reply #4 - 04/20/17 at 10:41:08
 
If you don't pay income tax; should be allowed to vote.
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Re: 44%
Reply #5 - 04/20/17 at 10:42:42
 
WebsterMark wrote on 04/20/17 at 10:41:08:
If you don't pay income tax; should be allowed to vote.


What about payroll tax?  What about sales tax?  What about property tax?  What about capital gains tax?
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Re: 44%
Reply #6 - 04/20/17 at 15:08:43
 
Why should those who have wealth be the only ones to vote?  
Perhaps we should make it that those who don't pay taxes can't serve in the military.  Security risks and all that. Grin Grin Grin

Apparantly some 44% of Americans do not have enough income to pay an income tax, and that bar is set very low.  A flat tax would not be fair, 10% of a family with 20 thou income, 2K, would be a big hit.  10% of a person making 150K, 15K, would be a big hit but they would still be able to buy food, medicine and home ownership.  
BUT, if all income were included and handled the same, it might be doable,  That would be income from sales of stocks, houses, inheritance, expenses paid by the corporation you work for (or own) etc., as well as personal income tax, by individual not the 3 ways it is broken down now.
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Re: 44%
Reply #7 - 04/20/17 at 15:29:51
 
A flat tax would not be fair, 10% of a family with 20 thou income, 2K, would be a big hit.  10% of a person making 150K, 15K, would be a big hit but they would still be able to buy food, medicine and home ownership.

Be mindful that the economy has adapted to the tax burdens, one of the important considerations regarding a flat tax  is the burden is shared by all.  Everyone will have "skin in the game" and will tend to participate more in society. Prices are elastic, just look at the explosion of college tuition with the availability of student loans, Walmart is a great example of adaptation to low income.

If everyone pays taxes then more people will care when those taxes are wasted by inefficient bureaucracies. If 5k of my 50k annual salary was being pissed away you bet I'm gonna storm the parapets with my likeminded neighbors. Industries hobbled by welfare burdens would flourish and the numbers of those in poverty would decrease.
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Re: 44%
Reply #8 - 04/20/17 at 18:20:03
 
Walmart is a great example of adaptation to low income.

They are subsidized. Employees are paid so poorly that they qualify for food stamps and other wonderful social safety nets.
Cloward and Piven, understand it.
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Re: 44%
Reply #9 - 04/20/17 at 20:09:27
 
Why should those who have wealth be the only ones to vote?

Cause they're in a better position to make decisions.
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Re: 44%
Reply #10 - 04/21/17 at 06:17:21
 
WebsterMark wrote on 04/20/17 at 20:09:27:
Why should those who have wealth be the only ones to vote?

Cause they're in a better position to make decisions.



LOL!!!  So money=free speech?  You support citizens united?  Nice!  Better hope you (or any of your friends or family) don't lose your job, huh?

SMH.... to much!
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Re: 44%
Reply #11 - 04/21/17 at 06:36:39
 
T And T Garage wrote on 04/21/17 at 06:17:21:
SMH.... to much!


SMH - SO MUCH HATE!!

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Re: 44%
Reply #12 - 04/21/17 at 06:39:10
 
pg wrote on 04/21/17 at 06:36:39:
T And T Garage wrote on 04/21/17 at 06:17:21:
SMH.... to much!


SMH - SO MUCH HATE!!

Best regards,


No, mine stands for "shake my head" - as in disbelief.

I find it nearly unbelievable that someone actually thinks that only those who pay income tax should be allowed to vote.
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Re: 44%
Reply #13 - 04/21/17 at 07:01:42
 
Perhaps we should  just finish with the smoke and mirrors, and let the 5 biggest corporations choose the president, we are almost there anyway.
Save a lot on the bogus elections we participate in.  Do away with corporate taxes, eliminate welfare and social security.  If you don't save enough to retire, then don't retire.  Tax money would be spent on military to "enhance" the vision our corporations project around the world.  And of course more militarized police to keep the domestic scene quiet, with the poor, the deplorables, and misfits in ghettos or prison.

Oh wait, that's the republican party's platform. Grin Grin Grin Grin
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Re: 44%
Reply #14 - 04/21/17 at 07:45:43
 
I would also raise the voting age to 26. The idea an 18 year old can vote is ridiculous. I think you gotta have skin in the game to be allowed to vote.
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