Posted on 06/25/2009 10:43:11 AM PDT by sdw2009
According to IRS data, the bottom 50% of wage earners paid a total of 2.99% of all taxes – almost none...
(Excerpt) Read more at thedailycrux.com ...
Tax avoidance will (and should) become rampant very soon.
And Obama wants to cut their taxes....as if there is any left to cut.
Of all federal income tax.
Now throw in Social Security and Medicare taxes. Federal gas taxes. Phone taxes. Property taxes. State income and sales taxes. The percentage will change dramatically.
Part of the problem with the tax debate is defining the taxes being paid.
“Tax avoidance will (and should) become rampant very soon.”
It’s been my hobby for a long time now, LOL! I LIVE to thwart The Tax Man. :)
Now it would be interesting to know what percentage of the Federal Budget goes to provide services to the bottom 50% of wage earners.
There’s a very good primer right here on how to cut your taxes. Take the time to read it and learn a thing or two!
http://www.bankrate.com/brm/howdoi/howdoitax.asp
“Now throw in Social Security and Medicare taxes.”
That’s the part that’s being calculated.
Also, employers match it dime for dime. Never any mention of that.
Everyone is paying their fair share of property, sales tax and State taxes.
I think it’s time for a “No representation without taxation” revolt...
This omits FICA taxes I am sure.
It is only true for the Federal Income Tax
See the H&HS and the SS charts near the bottom for your answer.
No, it's not. The part mentioned is federal income tax - see the chart in post 5.
No representation without taxation. Strip the vote from welfare leeches.
One of the most effective ways to do that is to refuse to work! This is what my husband and I are doing. I retired at 59 and my husband at 53.
Another way is to live in a house that has the lowest government rent ( Oop! “property tax”) possible. We did this by choosing a very modest home in one of the lowest property tax ( AKA: government rent) in the nation. We have even considered living in a used RV.
Yep. We’re slowly ‘working our way out of the work force’ as well.
It’s a good feeling! :)
Reagan’s advisers tried to tell him that the EITC would have terrible long-term consequences
Alright, I’ll give you that. A whopping 2.9%. What’s your point?
I wonder if this 2.9% is before or after these taxpayers receive their EITC checks?
That fact means nothing unless we know how much do the bottom 50% EARN?
If it is way more than 3% then it is outrageous, but if it is around 2-3%, then it is proportionally correct.
2.9 percent? Bullcrap. From Wiki:
$1.1 trillion - Individual income tax (43.9%) $869.6 billion - Social Security and other payroll taxes (34.7%)
And given that Social Security goes to perpetuate a Ponzi scheme, and that the SS surplus is effectively just tossed into the general fund and spent, the lower 50 percent do pay far more into the federal coffers than being claimed here.
What’s your point?
My point is I'm sick of misleading statistics from both sides in debating the state of the fedgov.
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