IRS: Tax the poor at 10%

IRS ^ | November 6, 2019 | IRS

[ctdonath2]

Marginal Rates: For tax year 2020, the top tax rate remains 37% for individual single taxpayers with incomes greater than $518,400 ($622,050 for married couples filing jointly). The other rates are:

• 35%, for incomes over $207,350 ($414,700 for married couples filing jointly);
• 32% for incomes over $163,300 ($326,600 for married couples filing jointly);
• 24% for incomes over $85,525 ($171,050 for married couples filing jointly);
• 22% for incomes over $40,125 ($80,250 for married couples filing jointly);
• 12% for incomes over $9,875 ($19,750 for married couples filing jointly).

The lowest rate is 10% for incomes of single individuals with incomes of $9,875 or less ($19,750 for married couples filing jointly).

[ctdonath2]

As a conservative, methinks one should be able to live independently at a level where government doesn’t take anything. Forget all the “benefits”; earning a pittance on a sustenance acre - outright official poverty - should not elicit any demand from the tax man.

[oldasrocks]

Taxes should be paid on benefits received. Get free rent of $1,000 so pay taxes on $12,000 income. Same with food stamps etc.

[ctdonath2]

Reframed: taxable income STARTS at 10%, until you demonstrate how some of it is exempted - a la guilty until proven innocent.

[Veto!]

UGM does good work, I think. I gave them my old car, send checks for holiday dinners. When I took the title to my old car into their auto showroom, pleasant young man said, “Hi, I’m Jack and I’m an alcoholic. I’m the sales manager. “
The guy was born to be in that job.

Coming from a family with many alcoholics, I am deeply touched by those who get and stay sober.

[spudville]

Tax everyday 10% and force government to spend within the amount collected. It might give them the incentive to build the most robust economy possible.

[so_real]

Flat tax on spending. Tax everyone 12% but only on what they spend. Low income families pay less because they buy less. High income families pay more because they buy more. Kids can save for college, and earn interest, and get taxed only when they pay tuition. One of the bigger mistakes this nation made was taxing the incentive to produce, what we call "income", instead of the enjoyment of the fruits of our labor, what we call "expense". I'm old, so if we switch to taxing expenses I'll get double-dinged with a tax on my retirement spending. But it's worth it to me if I can see this fixed for the next generation.

[joethedrummer]

Lots of good ideas regarding taxation here…

Too bad we have NO representation in our government to even consider these ideas..

THEY take whatever they want.
“..You peasants don’t like it? - We will hit you SO hard that you’ll never complain out loud again…”

[ealgeone]

I think everyone should have to pay taxes. That way folks have skin in the game.

[ealgeone]

Yep....they want more.

I think if everyone had to send in the payroll tax instead of it being deducted we'd have a tax revolt in oh, say....about 20 seconds.

[Reily]

I agree but the studies I’ve seen say 17% not 12% would be revenue neutral.

[SES1066]

Yeah, should easily get that to zero - after finding a printed copy of 1040EZ, understanding the directions and terminology, doing the math, filling it out, and mailing it in.

You are way behind the times. 1040EZ & 1040A (aka 'short form') disappeared years ago (2017?). What is now is 1040 & 1040SR (Senior Return).

In fact, with the EITC, Child Tax & Standard Deductions, most singles / families below $40k annual income have no FEDERAL Tax. However, many will have a state income tax to file & pay. Anyone who thinks an ENTITLED Swamp would vote for a National Sales Tax (aka FAIR Tax) AND delete the Income Tax & most of the IRS is DELUSIONAL.

I remind you of the words of the "Sage of Baltimore", H L Mencken; "When a new source of taxation is found it never means, in practice... that the old source is abandoned. It merely means that the politicians have two ways of milking the taxpayer where they had one before."

Hard to believe that he died in 1956!

[Sequoyah101]

News flash for you. Something like 61% pay no tax at all.

The tax rate begins after deductions and credits and is on adjusted gross income.

You have done taxes befoore haven’t you?

[PeterPrinciple]

This is TAXABLE income after a good standard deduction.

[jdsteel]

“ A single person with less than 12,400 annual income has ZERO taxable income. Taxable income only starts after the standard deduction.”

Ding ding ding…we have a winner.

[Tired of Taxes]

What I learned about the “HOMELESS”: the reason why they live in tents is to prove to the state they are without a physical address. The amount average circa 2021 is $3000 / month. IF they are accepted on section 8 housing, the monthly they receive is $900.

Do you have a link? I believe you. I'm just shocked that I never heard that before.

[so_real]

After we tightened our belts and ate our peas for eight years of Obama, I was kinda thinking the government needed to go on a little diet and live within its means. I'm way past shooting for revenue neutral :-)

[Reily]

Agree !

[ctdonath2]

Y’all keep missing the point: the tax rate STARTS at 10%, then you have to prove you don’t owe it.

[Sequoyah101]

Oh. I get it. Recovery takes time to formulate.

[max americana]

I personally know still some of the staff there since I last left there 2007. They do good work. BUT they dont really uplift the community.

I also personally spoke with the “homeless” when i was there during the summer for a few get-togethers by the board of directors. Some of them even showed me their bank account statements which made me amazed..and mad. PLUS the same deal when I was there: FREE MEDICAL AND DENTAL.

Teeth cleaning in L.A. easily costs you $500 minimum. At UGM, it’s free and done by dentistry students from USC and UCLA and they do it very well. There’s more but that’s for another thread..that’s why I have never given any $ to any “homeless guy” the past 20 years.