Quote:
Originally Posted by Lindy
And not just for the rich, which is what most people dwell on. Nearly half of Americans pay no federal income tax at all.  How's that for a "historic low?" (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.
Tax cuts enacted in the past decade have been generous to wealthy taxpayers, too, making them a target for President Barack Obama and Democrats in Congress. Less noticed were tax cuts for low- and middle-income families, which were expanded when Obama signed the massive economic recovery package last year.
The result is a tax system that exempts almost half the country from paying for programs that benefit everyone,...
The rest of the article Nearly 50% Will Pay No Fed Income Tax for 2009 - CBS News
Lindy |
I wonder how many large corporations such as GE, who also paid no tax or even got refunds and rebates, it would take to make up for the 50% of people who make so little money they don't pay taxes?
---------- Post added at 11:08 AM ---------- Previous post was at 11:05 AM ----------
Quote:
Originally Posted by ralphie250
ok, so, why are we paying less taxes? tax cuts??? ok if so then to me (being a ignorant person to some of the political aspects) it seems that is why we are seeing so many things that are being cut at so many levels. is that right???
why did we have so many tax cuts? is it so we (the people) would vote them into office (wichever one it may be)?? if thats the case then whose to blame? the government, or the people?
if its the people then we have no one to blame but ourselves, right???
sorry for the ignorance.
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I personal think it's uneducated voters. Many of these people enjoying hearing what they want to hear. Want to go to war? Yeah I think so. Umm, what's it gong to cost? 'Nothing! In fact we're going to cut your taxes! "Hell yes! Let's get them bastards! Hey do you know where I can buy a $3 yellow ribbon bumper sticker? I want to show my support."