47% of Americans do not Pay Federal Income Tax?

[guido911]

I doubt anybody "makes money" from taxes. You seem to forget that there are a lot more taxes than just the income tax.

Go back and read the original article:

The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment.

And again, we are talking about federal income tax. 

[guido911]

Go back and read the original article:

And again, we are talking about federal income tax. 

Crickets.  Here is an article from an evil conservative which essentially, and by the way succinctly, sums up my position:

http://article.nationalreview.com/430938/tax-season/mark-steyn

[GG]

Just finished up my taxes about an hour ago.  

Got to come up with an additional $788 to send to federal and $219 to the state.  

Oh well I'd rather send them additional tax rather than get a refund.  I just hate the government to use my money interest free.

[nathanm]

And again, we are talking about federal income tax. 

Talking about income tax and excluding the rest of the tax burden is like budgeting for your gas bill and excluding the fuel charge.

And don't worry, we unmarrieds always get to pay.

Right now, there are probably more folks than usual not paying income tax thanks to both job loss reducing incomes and the myriad tax credits for buying a house, a car, green appliances, and on and on. Given that none of them are permanent, I don't think it's really fair to use this year's (or last year's) numbers in a vacuum.

[Conan71]

Some more perspective......

The debate on the National Debt......

Damn, growth was a little over 3% in those days and people were predicting a recession.  We all know what happened to Mondull in that election.

So.  Deficits are bad.  Are the "failed economic policies" of the Reagan administration justification for the Obama Administration racking up record deficits?  That's what I keep hearing. 

President Reagan certainly never envisioned the country being $12 to $13 trill. in debt. 

[Conan71]

Talking about income tax and excluding the rest of the tax burden is like budgeting for your gas bill and excluding the fuel charge.

And don't worry, we unmarrieds always get to pay.

Right now, there are probably more folks than usual not paying income tax thanks to both job loss reducing incomes and the myriad tax credits for buying a house, a car, green appliances, and on and on. Given that none of them are permanent, I don't think it's really fair to use this year's (or last year's) numbers in a vacuum.

The original point was about Federal income tax in the first place.  Not overall tax burden.  Though if you want to argue overall tax burden, lower income people and retirees can also apply for an income tax rebate.

[guido911]

The original point was about Federal income tax in the first place.  Not overall tax burden.  Though if you want to argue overall tax burden, lower income people and retirees can also apply for an income tax rebate.

Why debate the issue when you can simply change the subject?

[Conan71]

Why debate the issue when you can simply change the subject?

Mickelson had a great finish yesterday, didn't he?

[Cats Cats Cats]

I'm too lazy to read the whole thread

I am assuming that somebody pointed out the fact that "The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005."

I am sure that there are quite a few businesses that aren't actually active though.  Only 25% of the "largest" paid taxes.  Doesn't say how many they considered the largest.
http://www.reuters.com/article/idUSN1249465620080812

[Hoss]

Mickelson had a great finish yesterday, didn't he?

That shot on 13 from the pine straw...maybe one of the best Master's shots ever!

[Gaspar]

I'm too lazy to read the whole thread

I am assuming that somebody pointed out the fact that "The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005."

I am sure that there are quite a few businesses that aren't actually active though.  Only 25% of the "largest" paid taxes.  Doesn't say how many they considered the largest.
http://www.reuters.com/article/idUSN1249465620080812

I'm assuming that people actually understand that businesses are only liable for income taxes on INCOME.  If your income is lower than your expenses and deductions you pay no income tax. 

So basically if an above company had a poor year, out of the 7 years aforementioned, than they paid no income tax. 

SO WHAT!

[guido911]

I'm too lazy to read the whole thread

I am assuming that somebody pointed out the fact that "The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005."

I am sure that there are quite a few businesses that aren't actually active though.  Only 25% of the "largest" paid taxes.  Doesn't say how many they considered the largest.
http://www.reuters.com/article/idUSN1249465620080812

I love Christmas time.

[guido911]

Just finished up my taxes about an hour ago.  

I recently finished my taxes. Perhaps that is why I am on a bit of a tear.

[Conan71]

I recently finished my taxes. Perhaps that is why I am on a bit of a tear.

I'm waiting to see the painful truth, then it's off to Ranch Acres...

[guido911]

I'm waiting to see the painful truth, then it's off to Ranch Acres...

If I were you, I would do what you are planning in reverse.