Are children, the unemployed (hard to tax no income), the elderly and are getting social security benefits (which don't get federal income taxes - this actually accounts for roughly half of the 47%), and - as mentioned - the genuinely poor who get more back in rebates than they paid in.
Note that most of these people DO still pay taxes - payroll taxes (SS tax and medicare/medicaid), state income taxes, property taxes, and sales taxes, to name a few.
So to address the original point - the reason that this is such an "outrage" is that income tax is the only genuinely progressive tax that exists in our country - every other tax falls more heavily (in terms of a percent of their income) on the poor and middle class than it does on the upper class. So yes, 47% of the population don't pay federal income tax, but this isn't necessarily a bad thing, and in fact could be said to be by design. <insert quote from The Wealth of Nations here>
They still pay a larger percent of their income in taxes than I do, and a hell of a lot more than many of the ones who are complaining about this fact.
Note that most of these people DO still pay taxes - payroll taxes (SS tax and medicare/medicaid), state income taxes, property taxes, and sales taxes, to name a few.
So to address the original point - the reason that this is such an "outrage" is that income tax is the only genuinely progressive tax that exists in our country - every other tax falls more heavily (in terms of a percent of their income) on the poor and middle class than it does on the upper class. So yes, 47% of the population don't pay federal income tax, but this isn't necessarily a bad thing, and in fact could be said to be by design. <insert quote from The Wealth of Nations here>
They still pay a larger percent of their income in taxes than I do, and a hell of a lot more than many of the ones who are complaining about this fact.
what does it mean to "pay no federal income tax"?
18/09/2012 06:30:28 PM
- 960 Views
Wrong
18/09/2012 06:37:07 PM
- 533 Views
Additional categories
18/09/2012 06:51:46 PM
- 624 Views
SS income is very much taxed, my friend
18/09/2012 06:59:28 PM
- 502 Views
Is that true?
18/09/2012 06:54:33 PM
- 547 Views
No, it's not. See my post (you should really have read it first ) *NM*
18/09/2012 07:00:07 PM
- 213 Views
Looking at that chart you linked, I have some questions.
18/09/2012 07:05:24 PM
- 499 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
- 449 Views
Does that mean the correct number is that 27.6%?
18/09/2012 07:17:46 PM
- 506 Views
That is correct - some folks have such negative income taxes, it offsets payroll as well.
19/09/2012 05:28:07 AM
- 508 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
- 716 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
- 486 Views
That sort of thing does matter to me
18/09/2012 10:48:30 PM
- 456 Views
Ah, yeah, not so much for me.
18/09/2012 11:16:56 PM
- 428 Views
I am a BIT curious whether he took the IRS amnesty for tax dodging in 2009.
18/09/2012 11:32:31 PM
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As an outside observer ...
19/09/2012 01:28:13 AM
- 501 Views
Re: As an outside observer ...
19/09/2012 04:45:11 AM
- 455 Views
the question of legality has already been covered by the offshore accounts though....
19/09/2012 05:44:28 AM
- 485 Views
Eh, those already exist, if people bothered to look
19/09/2012 08:08:35 AM
- 650 Views
Those are toothless examples, no bite to them and old news so no shock value aspect
19/09/2012 08:44:01 AM
- 419 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
- 475 Views
I think you got it wrong:
19/09/2012 01:52:30 AM
- 443 Views
+1 - you are correct, moondog screwed the pooch with this post. *NM*
19/09/2012 05:18:19 AM
- 198 Views
Washington Post similar to Anonymous', but shows how many people get each credit.
19/09/2012 06:45:08 PM
- 531 Views