47% of US households have no Federal Tax liability

shawn

shawn

running dog lackey of the oppressor class
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http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0&.v=1

WASHINGTON (AP) -- Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it's simply somebody else's problem.

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization.

Most people still are required to file returns by the April 15 deadline. The penalty for skipping it is limited to the amount of taxes owed, but it's still almost always better to file: That's the only way to get a refund of all the income taxes withheld by employers.

In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax.
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I 100% disagree with the folks who are getting something for nothing, however...I feel this is a tad misleading soley by the title. Those 47% do in fact have tax liabilities all year...and if they have the proper amount of taxes taken out of each pay check, what's wrong with that? The people that get burned are the folks that try hiding their money through out the year, or try to keep more for themselves. That said, I do feel a flat tax should be initiated so Americans can keep and spend more of their own money and help jump start the economy and keep it afloat. Let me handle my money, not the government.
 
Fahkkkkk
Id like to find someone to push some of my liability on to....after my yearly contributions, all deductions I could dream up and begging and pleading I am going to be writing a $7300 check to uncle same on 4/15....I mean no sense in waiting until the last minute and all.
 
UTfball68 said:
I 100% disagree with the folks who are getting something for nothing, however...I feel this is a tad misleading soley by the title. Those 47% do in fact have tax liabilities all year...and if they have the proper amount of taxes taken out of each pay check, what's wrong with that? The people that get burned are the folks that try hiding their money through out the year, or try to keep more for themselves. That said, I do feel a flat tax should be initiated so Americans can keep and spend more of their own money and help jump start the economy and keep it afloat. Let me handle my money, not the government.
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You are not reading right that is 47% who have NO LIABILITY, in other words they get back every penny they paid in....

I do not try hiding or keeping anything, but when you have irregular income (I.E. commissioned sales) you get something like 48 checks taxed at poverty level and 3-4 that move you up a bracket or three....I file single and none, I am married, have 2 kids, gave over 11k to charities and still have to support a few welfare checks...

Oh yeah, govt says I am an evil rich person....didn't feel so evil when I rolled out of the yard at 4:10 this morning and wont be home until near midnight tonight...

:beer:
 
rockcity said:
Invest that $$$ and file for an extension :D
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Hey, can I claim your 2 this year?
What about Jackson at least?

How do I get social security numbers issued for a dog?
 
SkyHiK5 said:
You are not reading right that is 47% who have NO LIABILITY, in other words they get back every penny they paid in....
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Gotcha...I thought it was lumping lazy asstards in with folks who pay as they go and the remaining 53% of people that have to pay on April 15th were the only 'true' American contributor.
 
I try hard to be in that 47%...mission accomplished the last two years. If the gov. is going to break one off in me for operating a business on the level, then I have to do my reserch to get back as much as possible on a personal level. Do your homework you too can be one of the 47%
 
I don't think it's possible for me to be one of the 47% no matter how many loopholes and business I try to start and sink. I did manage to only pay back $620 this year which is good I suppose.
 
cltdba said:
I don't think it's possible for me to be one of the 47% no matter how many loopholes and business I try to start and sink. I did manage to only pay back $620 this year which is good I suppose.
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Yeah Im with you....I am paying 630.00 since I moved to SC in August but am getting back 4,000
 
I was floored when I heard this stat this AM.
Had to go look up teh deifnition, b/c i was thinking same as Woody here - pay enough as you go, and you can be in the 47%.

NO - according to this:
http://www.taxsleuth.com/pages/glossary

Tax Liability = total amount you owe, after credits, BEFORE considering any payments that have been made.
 
My wife and I are very close to the 47% :D

However, we take steps to do what we can to lessen our tax liability. I think most that read that report think of some lazy tard not working and collecting welfare. Well, I think it also includes well-to-do folks that are smart with their $$$ and take advantage of tax credits and deductions where they can :)
 
They are talking about Federal Income tax in that article. They exclude Social Security, Medicare and State Income Taxes. Outside of those taxes, we pay property, fuel and sales taxes.

It boils down people making less than 50 G's (with dual incomes & two kids - I believe) will get enough tax credits when everyhting is said and done to not owe Federal Income Tax.
 
Right, and the bottom 40% actually get more money back than they withheld.
 
RatLabGuy said:
Tax Liability = total amount you owe, after credits, BEFORE considering any payments that have been made.
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That's not the way they're using it here:

The family was entitled to a standard deduction of $11,400 and four personal exemptions of $3,650 apiece, leaving a taxable income of $24,000. The federal income tax on $24,000 is $2,769.

With two children younger than 17, the family qualified for two $1,000 child tax credits. Its Making Work Pay credit was $800 because the parents were married filing jointly.

The $2,800 in credits exceeds the $2,769 in taxes, so the family makes a $31 profit from the federal income tax. That ought to take the sting out of April 15.
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So in this case, they get back all the money that was withheld throughout the year, plus $31.
 
i've never understood taxes why do people who make so little always get so much back? my friends parents have 4 kids and only the father works (mother is capable of working but won't get off her lazy butt to do it) and they get back like 4k every year!
 
Tax the rich and give to the poor. Or as you could say in america, Steal from the working and give to the lazy...

If everyone just paid a percentage of their income it might take care of alot of problems. Take 10% of income from EVERYONE instead of 40% from some and nothing from others and they would probably come out alot better.

I just love how congress has no idea how to manage money...
 
Tacoma747 said:
Tax the rich and give to the poor. Or as you could say in america, Steal from the working and give to the lazy...
If everyone just paid a percentage of their income it might take care of alot of problems. Take 10% of income from EVERYONE instead of 40% from some and nothing from others and they would probably come out alot better.
I just love how congress has no idea how to manage money...
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How about this, make as much as you want, but tax what is spent!
 
SkyHiK5 said:
How about this, make as much as you want, but tax what is spent!
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don't we already do that? its not enough to help are situation. i think there should be a 10% or whatever size tax on everyone that you pay each year no tax credits or other b.s. how can a government run when they payout more money than they bring in? oh sorry were doing that thats why were trillions of dollars in debt!!
 
SkyHiK5 said:
How about this, make as much as you want, but tax what is spent!
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Then the illegals and everyone would have to pay tax and help the wonderful government. And it wouldn't be PC to make them pay for the free education for their children and free health care they are getting.

The sales tax idea is the best yet, but it'll never fly because an idiot didn't come up with it.
 
90xj said:
Then the illegals and everyone would have to pay tax and help the wonderful government. And it wouldn't be PC to make them pay for the free education for their children and free health care they are getting.
The sales tax idea is the best yet, but it'll never fly because an idiot didn't come up with it.
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I'm not sure either of you have been paying attention to this thread.

HALF of all Americans aren't paying any Federal income tax this year. Most states (North Carolina included) now get the majority of their tax revenue from sales tax. I paid 17% in total sales tax on a door handle at the junkyard last week.

As it sits right now, rich people pay income tax. Everybody else is paying various consumption taxes. That goes for illegal aliens as well.
 
saf-t scissors said:
As it sits right now, rich people pay income tax. Everybody else is paying various consumption taxes. That goes for illegal aliens as well.
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I totally agree iwth the point and the problem here, but I do have to disagree w/ your terminology a bit.
I'd hardly consider a family of four making, say, $65k "rich" by any stretch of the imagination, especially if they're in an urban area.
Hell we are now into the 25% bracket and could barely get into buying a house right at the median cost here, my wife would slap you if you you called her rich.
Lets go with "middle class"...

The problem is friggen math vs votes.
at a flat tax rate, a guy that makes $1m equals the tax revenue of 10 at $100k or 100 at only $10k.
But in November, he gets only 1 vote vs 10x or 100x the others.

(Luckily though, he's a lot more LIKELY to vote...)
 
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