Quote:
Originally Posted by joeydb
I'll thank Obama by helping to give him a permanent vacation, starting January 20, 2013, for a job arrogantly and inadequately done.
No kidding, the same government that doesn't collect from almost 50% of the people categorizes them as too poor to pay? What a shock. How about the lucky guy in the 51st percentile who gets to work 3 jobs to pay his "fair" share? Its so fair he gets to pay for some of the 49% who don't pay.
The Ryan budget CUTS spending. That is why it will work in reining in the deficit and accumulated debt.
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Blame the Poor, Tax the Poor, in order to give tax cuts to the wealthy and eliminate Social Security and Medicare. Have you even read the Ryan Budget Plan? That is precisely what it does. It will ruin this country and is estimated to triple our deficit.
Again: the
facts of the Republican Blame and Tax The Poor War are these:
[quote]
7/27/2011 Forbes Magazine
Why Do Some People Pay No Federal Income Tax?
Much has been made of the Tax Policy Center’s estimate that fully 46 percent of Americans will pay no federal individual income tax this year.
Commentators have often
misinterpreted that percentage as indicating that nearly half of Americans pay no taxes.
In fact, however, many of those who don’t pay income tax do pay other taxes—federal payroll and excise taxes as well as state and local income, sales, and property taxes.
The large percentage of people not paying income tax is often blamed on tax breaks that zero out many households’ income tax bills and can even result in net payments from the government.
While that’s the case for many households, a new TPC paper shows that about half of people who don’t owe income tax are off the rolls not because they take advantage of tax breaks but rather because they have low incomes.
The basic structure of the income tax simply exempts subsistence levels of income from tax.
What about the rest of the untaxed households, the 23 percent of households who don’t pay income tax because of particular tax breaks? We divided tax expenditures (special provisions in the tax code that benefit particular taxpayers or activities) into eight categories and asked which ones made the most people nontaxable.
The conclusion:
Three-fourths of those households pay no income tax because of provisions that benefit senior citizens and low-income working families with children.
Those provisions include the exclusion of some Social Security benefits from taxable income,the tax credit and extra standard deduction for the elderly, and the child, earned income, and childcare tax credits that primarily help low-income workers with children (see graph).