45% of households pay no federal income tax

[Chris]

NEW YORK (CNNMoney.com) -- 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.

45% of households owe no federal income tax for 2010 - Apr. 17, 2011

 

[martybegan]

NEW YORK (CNNMoney.com) -- 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.

45% of households owe no federal income tax for 2010 - Apr. 17, 2011

The standard progressive response is that these people still pay at least FICA, as well as state sales taxes, maybe local income taxes, and all those annoying little taxes and fees built into the tasks and puchases of our daily lives. This may be true, but the fact stated above still stands.

 

[zzzz]

Yes and those 63 million lower income people spend that money they don't have to send to Washington on food, clothes and other products sustaining the economy. Those 4.5 million upper income people spend money too but 63 million people spend a lot more on needs than 4.5 million.

 

[VaYank5150]

From the link:

Temporary tax policies, such as the Bush-era tax cuts and the tax breaks passed under President Obama, have also increased the ranks of the non-payers.

If most tax breaks were removed, the Tax Policy Center estimates, the percentage of households with no federal income tax liability would drop to 27% from 45%.

Hmmmmmmmmmm

 

[anuthervoice]

Yes and those 63 million lower income people spend that money they don't have to send to Washington on food, clothes and other products sustaining the economy. Those 4.5 million upper income people spend money too but 63 million people spend a lot more on needs than 4.5 million.

 

[Liberty]

and 47% of people want to redistribute wealth. I think there's a connection.

 

[Harry Dresden]

Yes and those 63 million lower income people spend that money they don't have to send to Washington on food, clothes and other products sustaining the economy. Those 4.5 million upper income people spend money too but 63 million people spend a lot more on needs than 4.5 million.

why?.....do they eat more and buy more clothes than rich people?......i bet if you checked those 4.5 mill spend more money than those 63 mill.....i could be wrong.....but a whole bunch of high end items (other products) ups the riches spending quite a bit.....just sayin.....

 

[DiamondDave]

NEW YORK (CNNMoney.com) -- 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.

45% of households owe no federal income tax for 2010 - Apr. 17, 2011

The standard progressive response is that these people still pay at least FICA, as well as state sales taxes, maybe local income taxes, and all those annoying little taxes and fees built into the tasks and puchases of our daily lives. This may be true, but the fact stated above still stands.

The rest of the populace has to pay those taxes as well...

 

[DiamondDave]

From the link:

Temporary tax policies, such as the Bush-era tax cuts and the tax breaks passed under President Obama, have also increased the ranks of the non-payers.

If most tax breaks were removed, the Tax Policy Center estimates, the percentage of households with no federal income tax liability would drop to 27% from 45%.

Hmmmmmmmmmm

So???

Does that mean REPs or Conservatives suddenly crumble?? No.. Sorry... Did not agree with Bush's policies on that at all, just like I did not agree with most of his fiscal policy

 

[VaYank5150]

From the link:

Temporary tax policies, such as the Bush-era tax cuts and the tax breaks passed under President Obama, have also increased the ranks of the non-payers.

If most tax breaks were removed, the Tax Policy Center estimates, the percentage of households with no federal income tax liability would drop to 27% from 45%.

Hmmmmmmmmmm

So???

Does that mean REPs or Conservatives suddenly crumble?? No.. Sorry... Did not agree with Bush's policies on that at all, just like I did not agree with most of his fiscal policy

Just trying to figure out how the new conservative GOP plans to play both sides of this fence. They want more people to pay taxes, yet insisted on extending Bush's tax cuts?

 

[Two Thumbs]

You mean to tell me that people didn't know that some people turn a profit come tax time?

HAHAHAHAHAHA

I LOVE tax time. Between the progs and the neo-cons I get more than a weeks pay every single year.

Has my check lowered since the enonomic crunch? No, it's gone up every year. hahahaha

And you want to raise taxes on the wealthy? HAHAHAHAHAHA Be my guest dumbasses.

 

[Twofox]

From the link:



Hmmmmmmmmmm

So???

Does that mean REPs or Conservatives suddenly crumble?? No.. Sorry... Did not agree with Bush's policies on that at all, just like I did not agree with most of his fiscal policy

Just trying to figure out how the new conservative GOP plans to play both sides of this fence. They want more people to pay taxes, yet insisted on extending Bush's tax cuts?

I think the idea is to lower taxes, but also end alot of the tax credits. The tax credits alone will raise gov't income and lowering taxes will leave more money in people's hands which they will spend, thus revving up the economy.

 

[Claudette]

NEW YORK (CNNMoney.com) -- 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.

45% of households owe no federal income tax for 2010 - Apr. 17, 2011

The standard progressive response is that these people still pay at least FICA, as well as state sales taxes, maybe local income taxes, and all those annoying little taxes and fees built into the tasks and puchases of our daily lives. This may be true, but the fact stated above still stands.

Yup. Most of those folks pay little or no Fed taxes yet if they have kids they get thousands back. Of course its other peoples money but what the hey. They will gladly take it.

I don't know who dreams this shit up but they oughtta be shot. If you don't pay in ain't no way you should get a refund of any kind.

All subsidies and tax breaks need to stop. They need to end the tax loopholes. Wonder how much they would save if those drawing SS and Medicare could only draw what they put in??

 

[Twofox]

You mean to tell me that people didn't know that some people turn a profit come tax time?

HAHAHAHAHAHA

I LOVE tax time. Between the progs and the neo-cons I get more than a weeks pay every single year.

Has my check lowered since the enonomic crunch? No, it's gone up every year. hahahaha

And you want to raise taxes on the wealthy? HAHAHAHAHAHA Be my guest dumbasses.

Yep, that's where I was at until I started my own business. Now if I make a profit I pay taxes, if I don't make a profit I don't pay taxes, but I get no refund either. So now I'm paying in so you can get your refund

 

[Claudette]

So???

Does that mean REPs or Conservatives suddenly crumble?? No.. Sorry... Did not agree with Bush's policies on that at all, just like I did not agree with most of his fiscal policy

Just trying to figure out how the new conservative GOP plans to play both sides of this fence. They want more people to pay taxes, yet insisted on extending Bush's tax cuts?

I think the idea is to lower taxes, but also end alot of the tax credits. The tax credits alone will raise gov't income and lowering taxes will leave more money in people's hands which they will spend, thus revving up the economy.

Seems whenever they cut taxes to include Captial Gains the Gov gets more revenue. Sounds like a winner to me.

Mayby the Dems should catch a clue???

 

[Two Thumbs]

You mean to tell me that people didn't know that some people turn a profit come tax time?

HAHAHAHAHAHA

I LOVE tax time. Between the progs and the neo-cons I get more than a weeks pay every single year.

Has my check lowered since the enonomic crunch? No, it's gone up every year. hahahaha

And you want to raise taxes on the wealthy? HAHAHAHAHAHA Be my guest dumbasses.

Yep, that's where I was at until I started my own business. Now if I make a profit I pay taxes, if I don't make a profit I don't pay taxes, but I get no refund either. So now I'm paying in so you can get your refund

Not true.

You are paying in so I can get more back than I paid in.

Lets get this right.

I got back just shy of $1000 more than I paid in taxes. I didn't just get my taxes back, I got some of yours and other peoples money.

Grats on the new business. Hope it takes off.

 

[Two Thumbs]

Just trying to figure out how the new conservative GOP plans to play both sides of this fence. They want more people to pay taxes, yet insisted on extending Bush's tax cuts?

I think the idea is to lower taxes, but also end alot of the tax credits. The tax credits alone will raise gov't income and lowering taxes will leave more money in people's hands which they will spend, thus revving up the economy.

Seems whenever they cut taxes to include Captial Gains the Gov gets more revenue. Sounds like a winner to me.

Mayby the Dems should catch a clue???

Dems have that clue.

Clinton did it, at the behest of the GOP, and revenue came pouring in. The Bush lowered it even more, and like majic, more revenue come in.

 

[Claudette]

You mean to tell me that people didn't know that some people turn a profit come tax time?

HAHAHAHAHAHA

I LOVE tax time. Between the progs and the neo-cons I get more than a weeks pay every single year.

Has my check lowered since the enonomic crunch? No, it's gone up every year. hahahaha

And you want to raise taxes on the wealthy? HAHAHAHAHAHA Be my guest dumbasses.

LOL Gotta agree.

I love tax time as well. I always get a refund. Course it ain't near what I pay in but I sure do enjoy getting some of MY money back.

 

[Claudette]

I think the idea is to lower taxes, but also end alot of the tax credits. The tax credits alone will raise gov't income and lowering taxes will leave more money in people's hands which they will spend, thus revving up the economy.

Seems whenever they cut taxes to include Captial Gains the Gov gets more revenue. Sounds like a winner to me.

Mayby the Dems should catch a clue???

Dems have that clue.

Clinton did it, at the behest of the GOP, and revenue came pouring in. The Bush lowered it even more, and like majic, more revenue come in.

Are you sure they caught that clue?? Doesn't look like it from where I sit.

Of course they are pretty dumb about some things. Mayby this is one of em. LOL

 

[Twofox]

You mean to tell me that people didn't know that some people turn a profit come tax time?

HAHAHAHAHAHA

I LOVE tax time. Between the progs and the neo-cons I get more than a weeks pay every single year.

Has my check lowered since the enonomic crunch? No, it's gone up every year. hahahaha

And you want to raise taxes on the wealthy? HAHAHAHAHAHA Be my guest dumbasses.

Yep, that's where I was at until I started my own business. Now if I make a profit I pay taxes, if I don't make a profit I don't pay taxes, but I get no refund either. So now I'm paying in so you can get your refund

Not true.

You are paying in so I can get more back than I paid in.

Lets get this right.

I got back just shy of $1000 more than I paid in taxes. I didn't just get my taxes back, I got some of yours and other peoples money.

Grats on the new business. Hope it takes off.

I stand corrected, no refund, profit

Thanks, I started the business 2 years ago when things were bad. It started slow as expected, but it's still slow. Growing but sloooooow. 2 years later and the business environement is so uncertain that folks are still holding back.