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47% will pay no federal income tax(CNN/Money article)
CNN/Money.com ^ | Jeanne Sahadi

Posted on 10/04/2009 4:30:28 PM PDT by mtrott

Most people think they pay too much to Uncle Sam, but for some people it simply is not true.

In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.

Some in that group will even get additional money from the government because they qualify for refundable tax breaks.

The ranks of those whose major federal tax burdens net out at zero -- or less -- is on the rise. The center's original 2009 estimate was 38%. That was before enactment in February of the $787 billion economic recovery package, which included a host of new or expanded tax breaks.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: taxevasion
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To: Chet 99

But single people don’t get it all back.


21 posted on 10/04/2009 4:49:21 PM PDT by omega4179 (pos approval rating -11)
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To: Chet 99

“I think this is about refunds. Everyone over the poverty mark pays something.”

I dunno, is the earned income tax credit at the poverty line or above it? I was thinking above, but not sure.

This statistic does not surprise me though. I was thinking the other day about my extended family. My parents are retired, father drawing SS, I got one sister on and off various programs, a brother who barely scrapes by but not on gov handouts as far as I know, another brother and myself who do pretty well. In the end though, the two of us do not pay enough taxes to cover what the gov is dishing out to other family members. I can see why the gov and our country are in trouble.


22 posted on 10/04/2009 4:51:48 PM PDT by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: mtrott

Over 50% are either not paying or getting welfare.


23 posted on 10/04/2009 4:51:51 PM PDT by GeronL (meow)
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To: mtrott

“The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else.”
Bastiat


24 posted on 10/04/2009 4:52:41 PM PDT by pico della mirandola
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To: ronnie raygun

“The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else.”
Bastiat


25 posted on 10/04/2009 4:53:01 PM PDT by pico della mirandola
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To: mtrott
Source:FY2009 Budget, Historical Tables, OMB

Who pays Federal Income Tax?
For FY2007:
Top 5% paid 60.63% of the total.
Middle 45% paid 36.48% of the total.
Bottom 50% paid 2.89% of the total.

This is FEDERAL INCOME TAX ONLY!
26 posted on 10/04/2009 4:57:06 PM PDT by leprechaun9
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To: mtrott

What a crock!

These figure don’t match IRS statistics.

Woefully underestimated and reporting about a nonexistent world.


27 posted on 10/04/2009 5:01:39 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: mtrott; Liz
Most people think they pay too much to Uncle Sam, but for some people it simply is not true.

Tax-cheat Charlie AGREES!


28 posted on 10/04/2009 5:08:12 PM PDT by Libloather (Tea Totaler, PROUD Birther, Mobster)
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To: mtrott

Just as taxation without representation was a bad idea, I believe representation without taxation (not having any skin in the game) is equally bad. I say if you don’t pay taxes, you don’t vote.


29 posted on 10/04/2009 5:08:25 PM PDT by ThunderSleeps (obama out now! I'll keep my money, my guns, and my freedom - you can keep the change.)
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To: mtrott

But 80% of Americans will pay more in payroll tax than income tax.


30 posted on 10/04/2009 5:10:35 PM PDT by kabar
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To: mtrott

I will require MANY more father’s day cards for all the foster-families I support.


31 posted on 10/04/2009 5:10:58 PM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: omega4179

It depends on their income level. And if you know what your tax burden will be, you can adjust your withholding amount.


32 posted on 10/04/2009 5:12:29 PM PDT by kabar
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To: PetroniusMaximus
Game over.

We’re done.

When the percentage reaches 51% were done.

Although, methinks CWII will occur before we get that far.

5.56mm

33 posted on 10/04/2009 5:13:47 PM PDT by M Kehoe
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To: mtrott

Clearly the enemies of liberty and Constitutional democracy have read de Tocqueville and taken his warning as their goal. When the body politic discovers it can vote itself monies from the public treasury, liberty and democracy are done.


34 posted on 10/04/2009 5:15:49 PM PDT by xkaydet65 (atement)
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To: mtrott

47% of Americans also believe Santa Claus lives in Washington D.C.


35 posted on 10/04/2009 5:18:45 PM PDT by The Good Doctor (Democracy is the only system where you can vote for a tax that you can avoid the obligation to pay.)
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To: mtrott

Only taxpayers should be allowed to vote PERIOD! When the freeloaders overpower the taxpayers, stick a fork into the United States because it is done.


36 posted on 10/04/2009 5:19:29 PM PDT by jesseam (Been there, done that)
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To: ThunderSleeps
I say if you don’t pay taxes, you don’t vote.

Which taxes? Feral, State, Local, School?

I won't pay any Feral taxes for 2009, because I didn't gross enough. Does that mean I shouldn't get to vote? In local elections? Or just Feral elections?

I've got skin in the game, by being subject to the powers of the various gooberments.

/johnny

37 posted on 10/04/2009 5:22:15 PM PDT by JRandomFreeper (God Bless us all, each, and every one.)
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To: jesseam
Am I a freeloader because I will pay no feral taxes for FY09? I don't take any money or benefits from government programs.

/johnny

38 posted on 10/04/2009 5:25:02 PM PDT by JRandomFreeper (God Bless us all, each, and every one.)
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To: SERKIT
I will require MANY more father’s day cards for all the foster-families I support.

And don't forget to send a Christmas card to the 50 year old UAW retiree you're supporting @ $3200/month pension and silver plated health care plan.

39 posted on 10/04/2009 5:30:19 PM PDT by nascarnation
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To: kabar
You're correct!

That is one of the reasons for the push to increase the minimum wage. Little Federal Income Tax Revenues, but every dollar pays payroll taxes.
40 posted on 10/04/2009 5:31:26 PM PDT by leprechaun9
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