| Author |
 Topic  |
|
|
Copper Catcher
Administrator
USA
2092 Posts |
 Posted - 12/08/2009 : 19:01:06
|
Nearly One Third of All Tax Filers Paid No Federal Income Taxes in 2007
The Tax Foundation has released a new Fiscal Fact on "nonpayers," those whose exemptions, deductions and credits wipe out any federal income tax due. In 2007, nearly one-third of the 143 million federal income tax returns filed had zero or negative tax liability, meaning that those filers got back every dollar that had been withheld from their paychecks—and often more. That's roughly 46.6 million tax returns, or 32.6 percent—the second-highest number ever.
For more, see the number of federal income tax returns filed with zero or negative income tax liability each year from 1950-2007.
Tax Foundation President Scott Hodge, who wrote Tax Foundation Fiscal Fact No. 202, "Surge of 'Nonpayers' Will Be Part of Bush Tax Legacy," discussed "nonpayers" on Fox News Channel's "Special Report with Bret Baier"
You must be logged in to see this link.
|
|
|
Copper Catcher
Administrator
USA
2092 Posts |
Posted - 12/08/2009 : 19:05:06
|
| Since this is the case 1/3 or more of the people don't care if taxes are raised, there is no concern about the US debt, how the real value of a dollar is continuing to drop like a rock, the cost of cap and trade, etc. The plan to overwhelm the system is working! |
 |
|
|
jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 12/08/2009 : 20:14:05
|
| Tax free municipal revenue and general obligation bonds....nice |
|
|
|
Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 12/09/2009 : 13:43:51
|
| Huh... 143 million tax filers out of approximately 300 million Americans.... that's only 48%. And if only 2/3 of those filing taxes actually owe anything, then only 31.8% of Americans are paying income tax. (That's slightly more than 3 out of ten.) |
Sorting Map
2010 First Finds Contest
Are you a Buffalo Hunter?
Wanna take seignorage away from the Fed? Spend *any* coins!
We cannot afford this government.
Cerulean's Standing Offer: $3/lb shipped for foreign coins |
|
|
|
keys
Penny Collector Member
383 Posts |
Posted - 12/26/2009 : 13:33:00
|
Don't forget the EITC (Earned Income Tax Credit)
If you get the 1040 workbook you find this in the middle of the book.
What is the EITC?
A credit to repay taxes to those who work and earn so little they would owe nothing in federal taxes. The idea was to get people off welfare and into the work force but pay them back some of their taxes to keep them from quitting and going back onto welfare.
|
I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
|
|
|
dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/26/2009 : 14:33:06
|
| I do believe that you must have children under 18 years for this credit |
|
|
|
keys
Penny Collector Member
383 Posts |
Posted - 12/26/2009 : 15:28:54
|
| You may be right dakota1955, but the number of filers claiming the EITC with or without children is probably a good sized number (I don't have the figures in front of me, but I would guess it is a million or so, maybe even more now with the economic mess we are in.) |
I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
|
|
|
jadedragon
Administrator
Canada
3788 Posts |
Posted - 12/26/2009 : 17:01:09
|
| I have a t-shirt that says "I work hard. Millions on Welfare Depend on Me." |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
|
|
|
Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 12/26/2009 : 17:51:17
|
But, THE RICH ARE EVIL!, and they just wanna keep me down! Why, the attorneys I work for (that make 3x-10x's what I do), are just greedy. Yeah, they gave me a job, but what do they need all that money for? They should be forced to give it to the underprivledged! Sure, the underprivledged had a chance to get educated and raise themselves up, but those stinkin' rich people keep holdin' em down, in poverty no less.....
Two legs bad, four legs good!
Two legs bad, four legs good!
Two legs bad, four legs good!
But seriously. I've often said that the only fair way to tax people is a head tax. A fixed figure, per person that applies to everyone. Ok, maybe half rate for kids under 18.
If you can't pay it, you just go to the local revenue office, and they tell you where to show up each Saturday and Sundy (or whenever) to contribute labor for the common good until you tax debt is paid.
300M people, 3T budget = $10,000. per head.
How long do you think it would take for people who are paying nothing now to take a VERY keen interest in how the money is being spent?
|
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
|
|
|
|
NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/27/2009 : 16:06:48
|
There are a few guys at my work who make more than me, but they get back EVERY CENT of taxes they pay through out the year. So what if they have kids? That is not my fault, but I pay for it. I have no deductions, so I have to foot the bill.
These same guys complain about how much taxes they pay every week. I try and explain that they actually pay NO taxes, but they don't get it. They tell me to have kids if I don't like it. One guy makes about 10k per year more than me, but after all his credits and deductions my taxable income is greater than his. Go figure. These employees are so irresponsible with their money and finances, but they get $5k plus every year in taxes back. It's blown within two weeks buy all these guys. I wish I had $5k comming in the spring....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
|
|
|
Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 12/27/2009 : 19:12:42
|
quote:
Originally posted by NotABigDeal
There are a few guys at my work who make more than me, but they get back EVERY CENT of taxes they pay through out the year. So what if they have kids? That is not my fault, but I pay for it. I have no deductions, so I have to foot the bill.
These same guys complain about how much taxes they pay every week. I try and explain that they actually pay NO taxes, but they don't get it. They tell me to have kids if I don't like it. One guy makes about 10k per year more than me, but after all his credits and deductions my taxable income is greater than his. Go figure. These employees are so irresponsible with their money and finances, but they get $5k plus every year in taxes back. It's blown within two weeks buy all these guys. I wish I had $5k comming in the spring....
Deal
Like you wouldn't just blow it at the gun shop....
|
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
|
|
|
|
NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/28/2009 : 06:19:12
|
quote:
[i]Originally posted by Delawhere Jack
Like you wouldn't just blow it at the gun shop....
At least I would have something to show for it. These guys just blow it and have nothing to show for it. They don't pay down bills or anything. And I wouldn't spend quite all of it at the shop....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
|
|
|
Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 12/28/2009 : 18:20:42
|
quote:
Originally posted by NotABigDeal
quote:
[i]Originally posted by Delawhere Jack
Like you wouldn't just blow it at the gun shop....
At least I would have something to show for it. These guys just blow it and have nothing to show for it. They don't pay down bills or anything. And I wouldn't spend quite all of it at the shop....
Deal
That's exactly what I thought as I made that post, just pulling you chain bro.
Hey, on the elevator at work a couple months ago, some young chickie is telling her friend about the purse she just bought........ are you sitting down?
$800!
Sheeple are EVERYWHERE!
They walk among us,
They don't even know that they're sheeple...
|
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
|
Edited by - Delawhere Jack on 12/28/2009 18:22:46 |
|
|
| |
Topic |
|
Nearly 1/3 of All Tax Filers Paid No Federal Taxes
Forum Locked
