this 46 or 47% number of americans who supposedly pay no income tax keeps getting thrown around, especially by the political right in the US. we are supposed to be outraged that almost half of americans pay no income tax. in reality, the actual number of americans who "pay no income tax" is actually americans who "pay zero or negative income tax".
as a personal example, i got a tax refund last year. therefore, i qualify for the 46-47% who "paid no income tax". but, how did i get a refund if i paid no tax? the answer is that i *DID* pay income tax, but i overpaid my share based on my income and deductions. as a result, i got a refund of the amount i OVERPAID in taxes but i hardly paid zero income tax last year.
i realize that we will never stop having political candidates who are willing to stretch any amount of data to fit their narrative for re-election, but it completely frustrates the hell out of me to hear this particular stat being used to drum up republican support when the reality is that the vast majority of americans *do* pay income tax, but those of us who overpay our income taxes are somehow cheating the system or something
as a personal example, i got a tax refund last year. therefore, i qualify for the 46-47% who "paid no income tax". but, how did i get a refund if i paid no tax? the answer is that i *DID* pay income tax, but i overpaid my share based on my income and deductions. as a result, i got a refund of the amount i OVERPAID in taxes but i hardly paid zero income tax last year.
i realize that we will never stop having political candidates who are willing to stretch any amount of data to fit their narrative for re-election, but it completely frustrates the hell out of me to hear this particular stat being used to drum up republican support when the reality is that the vast majority of americans *do* pay income tax, but those of us who overpay our income taxes are somehow cheating the system or something
"The RIAA has shown a certain disregard for the creative people of the industry in their eagerness to protect the revenues of the record companies." -- Frank Zappa
"That's the trouble with political jokes in this country... they get elected!" -- Dave Lippman
"That's the trouble with political jokes in this country... they get elected!" -- Dave Lippman
what does it mean to "pay no federal income tax"?
- 18/09/2012 06:30:28 PM
1129 Views
Wrong
- 18/09/2012 06:37:07 PM
689 Views
Additional categories
- 18/09/2012 06:51:46 PM
810 Views
SS income is very much taxed, my friend
- 18/09/2012 06:59:28 PM
676 Views
Is that true?
- 18/09/2012 06:54:33 PM
705 Views
No, it's not. See my post (you should really have read it first
) *NM*
- 18/09/2012 07:00:07 PM
288 Views
) *NM*
- 18/09/2012 07:00:07 PM
288 Views
Looking at that chart you linked, I have some questions.
- 18/09/2012 07:05:24 PM
641 Views
I think the reasoning is that since they go to entitlement programs, it's not entirely a tax.
- 18/09/2012 10:55:12 PM
624 Views
Does that mean the correct number is that 27.6%?
- 18/09/2012 07:17:46 PM
666 Views
That is correct - some folks have such negative income taxes, it offsets payroll as well.
- 19/09/2012 05:28:07 AM
671 Views
If it helps, here's a graph of effective federal tax rate by quintile, all taxes (data from 2007)
- 19/09/2012 08:30:37 AM
909 Views
While we're talking about taxes, am I the only one who doesn't give a rat's ass about Romney's?
- 18/09/2012 10:37:12 PM
650 Views
That sort of thing does matter to me
- 18/09/2012 10:48:30 PM
614 Views
Ah, yeah, not so much for me.
- 18/09/2012 11:16:56 PM
592 Views
I am a BIT curious whether he took the IRS amnesty for tax dodging in 2009.
- 18/09/2012 11:32:31 PM
577 Views
As an outside observer ...
- 19/09/2012 01:28:13 AM
657 Views
Re: As an outside observer ...
- 19/09/2012 04:45:11 AM
616 Views
the question of legality has already been covered by the offshore accounts though....
- 19/09/2012 05:44:28 AM
639 Views
Eh, those already exist, if people bothered to look
- 19/09/2012 08:08:35 AM
843 Views
Those are toothless examples, no bite to them and old news so no shock value aspect
- 19/09/2012 08:44:01 AM
584 Views
The stat is valid, because of tax credits the GOP created/expanded for the overtaxed middle class.
- 18/09/2012 11:22:13 PM
646 Views
I think you got it wrong:
- 19/09/2012 01:52:30 AM
610 Views
+1 - you are correct, moondog screwed the pooch with this post. *NM*
- 19/09/2012 05:18:19 AM
267 Views
Washington Post similar to Anonymous', but shows how many people get each credit.
- 19/09/2012 06:45:08 PM
704 Views
