Posted on 04/18/2016 1:50:30 PM PDT by george76
An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax
...
The top 1% of taxpayers pay a higher effective income-tax rate than any other group (around 23%, according to a report released by the Tax Policy Center in 2014) — nearly seven times higher than those in the bottom 50%.
On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax collected by Uncle Sam.
...
When it comes to all federal taxes — individual income, payroll, excise, corporate income and estate taxes — the distributions of who pays what is more spread out. This is partially because nearly everyone pays excise taxes, which includes taxes on gasoline, alcohol and cigarettes.
(Excerpt) Read more at marketwatch.com ...
When it comes to all federal taxes...
Maybe the author of this article should’ve studied the tax laws before writing the article because every tax listed in that paragraph above are all excise taxes. Every single one of them including income and payroll of any kind! Excise taxes are taxes on privileged activity, they have nothing to do with unprivileged private sector earnings.
We just filed tonight.
We’re not part of the 45%.
I do not agree with the Earned Income Tax Credit, I think the reason it exists is so people of lower incomes have no idea what they do or don’t pay in taxes. If they paid the fair rate for their wages they would have a greater understanding of the tax issues. Using the EIC if they have 2 children they are into middle incomes in many areas of the country and still owe no taxes. People of lower incomes can “get back” several thousand dollars as a “refund” when maybe a few hundred was taken from their check all year. From my observations most of those that get back the big “refunds” just blow the money instead of spending it to better themselves. This is also seriously taken advantage of by illegals, and the IRS turns a blind eye to it.
I think the EIC needs to be done away with, the howls would be huge so I would probably phase it out over a few years but it really needs to go.
I don’t think they count people of retirement age, but who knows? They shouldn’t!
If they are eligible for the Earned Income Tax Credit, they can get back far more than was taken out of their check, even including SS and Medicare. Some owe zero federal income tax and had little taken out- sometimes only SS and Medicare were deducted. If they have two children they can get thousands back.
What part of “consent of the governed” don’t you get? Low income is no reason disenfranchise people. Of course we could always go back to feudalism. We seem to be headed that way anyway.
When they buy a product or service.
That's why the politicians won't implement it - no loopholes for them and their pals.
Tax day is April 15.
That gives the IRS 5 months to issue a certificate to every net taxpayer showing they have paid taxes.
Require this certificate in order to vote that year.
America will self-correct in about 2 cycles.
There are certainly a few excise taxes around on things that no one is forced to buy.....I can't think of any services that are federally taxed and anyway, we are speaking of income tax.EVERYONE should pay something, and the so called earned income tax credit should be abolished...
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