Nearly half of US households escape fed income tax

[lynks66]

http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0

 

 

I had no idea the percentage was this high in regard to those who pay no federal income tax.

 

Thoughts?

[Run To State]

I think EVERYONE that has a job should have to pay some income tax.

[malachicrunch]

I think EVERYONE that has a job should have to pay some income tax.

 

Sounds like a statement from someone that's trying to keep the ATF off the compound:lol: j/k

[Run To State]

Sounds like a statement from someone that's trying to keep the ATF off the compound:lol: j/k

:lol:

[Dlbdonn]

Im not one of those families , more power to the ones that dont have to pay though .

[malachicrunch]

Im not one of those families , more power to the ones that dont have to pay though .

 

As someone who pays, as you and I do, I don't quite understand this sentiment.

[Run To State]

As someone who pays, as you and I do, I don't quite understand this sentiment.

That makes two of us.

[titletownclown]

Actually, the % of non-payers compared to payers has been growing for quite some time. With the proliferation of the Earned Income Credit and other refundable tax credits, many families who used to at least pay some net tax are no longer doing so. With the pool of payers shrinking in comparison to the pool of non-payers, ultimately there will have to be either a tax rate increase on the existing pool of payers OR a new tax that snares a much larger % of the population (can you say "VAT"?) It's coming AND it will be in addition to the income tax NOT in place of it. Mark my words.

[cooperstown]

As one who gets unfairly penalized by the Alternative Minimum Tax schedule (now there's a real fair tax for you :madman:), I find this percentage very surprising and alarming. I guess the answer is to more heavily tax the 50% of us that do pay taxes??

[SKINPIG]

As one who gets unfairly penalized by the Alternative Minimum Tax schedule (now there's a real fair tax for you :madman:), I find this percentage very surprising and alarming. I guess the answer is to more heavily tax the 50% of us that do pay taxes??

 

I think Obama and the democrats are shooting for only 40% of us paying ALL the taxes. It's their goal.

[acemona]

That is the system that is set up, more power to them. Just like the corporations who escape tax liability.

[ladiesbballcoach]

That is the system that is set up, more power to them. Just like the corporations who escape tax liability.

 

And as we have been saying both systems need to be changed.

[Dlbdonn]

That makes two of us.

I find that I cannot bring myself to be envious of someone else's fortunte circumstances . I'll just try to improve mine .

[acemona]

I find that I cannot bring myself to be envious of someone else's fortunte circumstances . I'll just try to improve mine .

 

According to some theories here, you can improve your circumstances by making less money and paying fewer taxes.:idunno:

[woodsrider]

According to some theories here, you can improve your circumstances by making less money and paying fewer taxes.:idunno:

In some situations you can.

 

For example, a guy that works in our warehouse is married and has 2 kids. He and his wife's combined income come in just barely over the max allowed for the earned income tax credit. So instead of getting back over $5000 he got back less then $2000. So do you think the few extra $1000 he made during the year (pretax mind you) offset the more then $3000 he missed getting with the earned income tax credit?