Posted on 04/18/2016 1:50:30 PM PDT by george76
An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax
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The top 1% of taxpayers pay a higher effective income-tax rate than any other group (around 23%, according to a report released by the Tax Policy Center in 2014) — nearly seven times higher than those in the bottom 50%.
On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax collected by Uncle Sam.
...
When it comes to all federal taxes — individual income, payroll, excise, corporate income and estate taxes — the distributions of who pays what is more spread out. This is partially because nearly everyone pays excise taxes, which includes taxes on gasoline, alcohol and cigarettes.
(Excerpt) Read more at marketwatch.com ...
The article said it’s 45.3% of American households so it’s actually higher than 45.3% of total Americans.
: )
What $ value of the portfolio would yield that kind of annual return?
Even in today’s market, you could get $100K on $2.5 million. Five years ago, you could have easily gotten that on $2 million.
Naturally, there is some risk involved. Stock prices will go up and down, and dividends are reduced and increased. The last five years, it’s been prices up and dividends up.
In such a portfolio, I would recommend about 20 common stocks, 5 preferreds, and 5 REITS. All good names, nothing too risky, with allocation across sectors.
I don’t pay taxes (S.S. and pension for income) and they don’t consider assets at all,which is just fine by me.
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I’d rather be a worker bee paying taxes than a loafer/scammer. Really, I’m thankful I have an honest job (courier) and make an honest wage. I hope GOD gives me good labor till he takes me OUT!
Thank you for your response. Are there financial advisors who specialize in this sort of portfolio construction? Or can any of them do this?
and are taxed on their social security income
I pay enough for all of them And danged tired of it Just gave the IRS the entire contents of my savings account today
No one who pays no federal income tax should be allowed to vote in a federal election.
What if you employ a hundred people and during an economic downturn you do not draw a salary so that you can make payroll?
The discussion is federal income tax...every year that you pay in, you should be allowed to vote...no tickee, no laundree.
You can get the same return with a Long Term Tax Exempt fund such as VWLUX (Vanguard Long Term Tax Exempt Fund - example only I’m not trying to push this.) which pays approximately 4% annually federal tax free. Go to Morningstar and look at the options for Long Term Tax Exempt funds. The issue with these type investments is interest rate risk. In a rising interest rate environment the value of the asset goes down. If you are holding long term that is less of an issue.
I’m not a financial advisor, I don’t play one on TV, and you should seek competent financial advice before you invest.
This is why a flat tax works. You would get money from everyone.
Been there, done that...a small business is taxed on net profit....if you file a tax return in such a case (I have), then you have fulfilled your federal liability.....however, if you sit on your a** for the year and produce nothing you should have no say in the election.
??????how????
But they do pay taxes to the feds in other ways.
Sure. Everyone else does too.
“They” want to tax wealth, not income. Yet they do not feel the least bit guilty about not paying the same pound of flesh everyone else does.
Thank you.
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