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CNN: 47% will pay no federal income tax


Redskins Diehard

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NEW YORK (CNNMoney.com) -- Most people think they pay too much to Uncle Sam, but for some people it simply is not true.

In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.

Some in that group will even get additional money from the government because they qualify for refundable tax breaks.

http://money.cnn.com/2009/09/30/pf/taxes/who_pays_taxes/index.htm?postversion=2009093012

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NEW YORK (CNNMoney.com) -- Most people think they pay too much to Uncle Sam, but for some people it simply is not true.

In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.

Some in that group will even get additional money from the government because they qualify for refundable tax breaks.

http://money.cnn.com/2009/09/30/pf/taxes/who_pays_taxes/index.htm?postversion=2009093012

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That 47% vote in politicians that want to raise taxes on those of us that actually pay income taxes so they can get more government cheese. Then with a straight face they call us greedy.

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That 47% vote in politicians that want to raise taxes on those of us that actually pay income taxes so they can get more government cheese. Then with a straight face they call us greedy.

Where's your compassion and love for others ya greedy bum?:silly:

We are reaching a tipping point in entitlement spending,but using strictly income tax does not tell the whole story.

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That 47% vote in politicians that want to raise taxes on those of us that actually pay income taxes so they can get more government cheese. Then with a straight face they call us greedy.

Well, some but many of those who campaign for higher taxes are in the higher tax brackets. Why? They value what they get (such as more money, public praise or warm fuzzies) from the higher taxes than the higher taxes cost. For example, new taxes increase my client base by an extra 50K so I now make 20K more before taxes. Even if 60% of that extra income goes away in taxes (and, remember that 30K in expenses included what was really my family vacation to Disney because I was able to expense it all off as training) now increases my profit while possibly keeping supply artificially limited. It's funny that many who don't pay taxes are actually some of the hardest hit when taxes go up.

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Where's your compassion and love for others ya greedy bum?:silly:

We are reaching a tipping point in entitlement spending,but using strictly income tax does not tell the whole story.

Use whatever tax you want. State income tax, FICA, property or ad valorum tax. They are all equally skewed.

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Are state and local taxes significantly different?

No, but income taxes are much different than other taxes like payroll and sales taxes. The first is a progressive tax, but the others are regressive.

As far as I know, the rich and the poor pay about the same percentage of their income into taxes in this country - about 30 percent. The rich pay a higher percentage of income tax (on the higher end of their income), but a much lesser percentage of payroll and sales taxes. For the poor, it's vice versa - low or no income tax, but the percentage of their income that goes to payroll and sales taxes is much higher.

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Use whatever tax you want. State income tax, FICA, property or ad valorum tax. They are all equally skewed.

Yes, but think of the taxes the poor unfortunates pay on smokes,booze and the Lottery(stupidity tax;))...Where's your love?:evilg:

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And social security, medicare, unemployment tax etc. Those hit the bottom part of your income hard, then drop off.

And are over utilized by the poor

Ya'll pay unemployment tax by the individual there?

SS/medicare ROI sucks for the rich since there is a earning cap

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And are over utilized by the poor

Ya'll pay unemployment tax by the individual there?

The Securities and Exchange Commission is overutilized by the rich, since the poor don't have investments. So are highways and bridges and national parks, since the poor rarely commute or take vacations. And so on.

So what?

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So what WHAT?:silly:

heheh.

Point is, we all pay taxes, in different ways, and we all receive government services, in different ways. People who claim that the rich are milked for a higher percentage than the poor rarely acknowledge the impact of any taxes other than the income tax.

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No, but income taxes are much different than other taxes like payroll and sales taxes. The first is a progressive tax, but the others are regressive.

As far as I know, the rich and the poor pay about the same percentage of their income into taxes in this country - about 30 percent. The rich pay a higher percentage of income tax (on the higher end of their income), but a much lesser percentage of payroll and sales taxes. For the poor, it's vice versa - low or no income tax, but the percentage of their income that goes to payroll and sales taxes is much higher.

Erm... I'm gonna be nitpicky here, but wouldn't those be considered flat taxes, not regressive taxes? (Except for Social Security, given its upper limit.)

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