45% don't owe U.S. income tax

Discussion in 'Economics' started by bearice, Apr 18, 2011.

  1. The fastest way to make the tax-averse incensed is to tell them that nearly half of U.S. households end up owing no federal income tax when all is said and done.

    But like most statistics, it is often misunderstood -- and, in the case of those trying to stir political outrage, misrepresented.

    For tax year 2010, roughly 45% of households, or about 69 million, will end up owing nothing in federal income tax, according to estimates by the nonpartisan Tax Policy Center. Some in that group will even end up getting paid money from the federal government.

  2. For every year you are able to defer paying taxes you gain 50% working capital. If you make 20% through your business activities and are able to defer taxes for 5 years your compounded gains far exceed the cost and expenses of your army of lawyers and tax accountants.
  3. r-in


    Something to remember is the high unemployment rate. No job, no taxes. Also, people that paid in the past may have jobs paying quite a bit less to make ends meet until they can find a job similiar to their previous job. They may have kids and a mortgage that offset their tax bill at these lower wages. At least they are out working. I have a neighbor who lost his house. He has been out of work for 3- 4 years, and has refused to take a job below his previously level, even though he has had offers. The jobs were half the pay, but they were jobs, and probably kept his house, but I guess pride go before the fall.
    Personally I'd go work 60 - 80 hours a week at McDonalds before I cave into pride. To me you get a job and work, but maybe I have the wrong attitude. I was taught to work for a living, and not rely on others for things I can take care of myself, but no to be afraid to admit when I need help, after I've made every effort to solve my problems.
    Then again, when I have the "what do you do for a living", and I tell people I trade, I get the usual, oh so you don't so anything. LOL I say yea, I guess the house pays for itself, and the kids college education etc. Then I get the pissed off look and people walk away. Again LOL
  4. I wish everyone would pay something. These 69 million have no skin in the game.

    On the flip side, use taxes have gone up, so no one is escaping a "tax" but most people don't see it that way.

    If you have a large group of low income people who pay no "income" tax indirectly (as an example) they pay very high tobacco tax, since most smokers are those with low income.

    Taxes have shifted.
  5. Paying taxes is similar to giving a Gun to a monkey. The monkey will Fire the Gun anywhere. Stop paying Taxes.
  6. Bob111


    if you stop paying taxes, in US,the monkey fill fire at you. and monkey's gun is pretty fucking big. will blow the shit out of you in a blink. you should try it.


    I agree 100%. Every single taxpayer should pay something. Certainly some of those who pay nothing, and may be receiving free services (Medicaid, food stamps, subsidized housing, welfare) develop an expectation.

    It's amazing that intelligent people here in the US can't apparently recognize that we have to cut spending and raise taxes simultaneously. If both parties would have a secret meeting and be honest with each other (just as Republicans assured Obama they'd agree to raise the debt ceiling) and agree that BOTH need to be implemented and they'd be willing to convey that to the public maybe they'd be less concerned about re-election since both parties would be sacrificing in areas once deemed off limits.
  8. That 45% statistic looks rather large.

    If it is true, the US is in deep trouble. No taxes = less ability to pay the national debt of biblical proportions.

    As I read the news, I get an increasingly strong desire to leave the country.
  9. Obama Paid only 26% Taxes on $1.7m

    Eric Schoenberg's the leftist professor claims he paid only 1% in taxes, and wants taxes increased on the wealthy

    Biden only paid 23%!

  10. the1


    Yep. Not only do they not pay taxes they actually get money from the government, or should I say you and I. Low income families are eligible for refundable credits even when they owe no tax. Talk about wealth redistribution.

    #10     Apr 18, 2011