Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: ajay_kumar

Big difference between ‘taxable income’ and paying taxes on that income. Many people have $20,000 or more taxable income and yet for various reasons pay no federal income tax. Seniors living on IRAs would fall into this group.


63 posted on 02/07/2008 8:19:37 AM PST by CrashCole
[ Post Reply | Private Reply | To 17 | View Replies ]


To: CrashCole

The house version of the rebate calls for $3000 minimum EARNED income. You are correct that many seniors do not pay any federal tax because social security income is tax free under a certain level of gross income.


74 posted on 02/07/2008 9:23:24 AM PST by ajay_kumar (United we win, divided democrats win. How difficult is that to understand?)
[ Post Reply | Private Reply | To 63 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson