Posted on 04/18/2017 5:43:31 PM PDT by Olog-hai
In tax year 2014, according to a report published by the Internal Revenue Service, the federal government hauled in a then-record $1,377,797,136,000 in individual income taxes.
Nonetheless, of the 148,606,578 individual income tax return filers that year, 52,062,499 (or 35 percent) filed what the IRS calls nontaxable returns, which means they paid no net individual income taxes.
Among these 52,062,499 filers who did not pay income taxes in 2014, according to Table 3.3 in the report, were 31,129,405 filers who also received $90,276,007,000 in payments from the federal government for refundable tax credits.
In total, taxpayers claimed $105.6 billion in refundable tax credits, said the IRS report. Of this, $5.5 billion was applied against income taxes and $9.8 billion against all other taxes. The remaining $90.3 billion in refundable tax credits was refunded to taxpayers.
(Excerpt) Read more at cnsnews.com ...
Sheesh, now they’re taxing people with record collections!
I have 4000 LPs, and didn’t owe any Federal tax in 2016. Should I be worried?
Ha! You have LPs which they’re after but I have my stash of 8-tracks which they’ll never get their hands on.
obama is gone but the income tax remains to suck America down the rathole
Sadly, I was not one of the 52 million.
In total, taxpayers claimed $105.6 billion in refundable tax credits, said the IRS report. Of this, $5.5 billion was applied against income taxes and $9.8 billion against all other taxes. The remaining $90.3 billion in refundable tax credits was refunded to taxpayers.
Wasn’t the percentage of households not paying tax 47% in 2012?
Lucky for me I am one of them. Kind of makes up for the over 40 years I did pay taxes.
However, what is worse than not paying taxes is getting taxpayer money, from the article: “2014 was a negative $12,003,000,000” That’s $12 Billion in wealth distribution.
should be redistribution.
I want these 52 million nontaxable returns published! What are they hiding from the public? Let's organize protest marches and vandalize property and terrorize motorists until those 52 million returns are published! They are thieves taking perks paid for by me. I want names and I want them to pay a fair share, or at least some money. Not fair!
Needs a BARF alert
Me neither, but I was for most of my life. Despite making it to the top 10%, I’ve rarely paid any federal income tax, and I’m totally fine with that. At one point, my W4 listed 42 exemptions by the standard formula.
Of course the truly rich pay no income tax, as they have no earned income, but most of the country is too educated to figure that out...
42?
The number of the universe?
If you have investment returns, you pay tax, although the IRS doesn't call it earned income.
And, of course, 99.9999999999999999999999% of them voted dimbulbcrat.
Do you mean The Answer to the Ultimate Question of Life, the Universe, and Everything?
Obviously!!!!
“:^)
Won’t be for cause, but what the hey...
52 million deadbeats not paying their fair share. Primarily the base of the democrat party, I’m sure.
But income tax, like minimum wage, is the constant mantra of the left. As far as I can tell, anyone who pays too much in taxes is a fool, a liar or a Democrat. Sorry for the redundancy. ;)
If one has a Record Collection, one has to pay taxes?
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