Nearly half of all households in US, do not owe federal income tax

[BonosSaint]

Some of these tax breaks are unusual and short-term, though. For example, my co-worker paid federal tax last year. She bought a home and qualified for the tax credit so she will have fundamentally paid no federal tax. For 2010, she will be back to owing federal tax. The original estimate was 38%, which is more in line. 2009 may be a fluke unless the tax breaks are extended.

 

[A stor]

Thanks, tax issues confuse me. I'm probably not the only one.

 

[INDY500]

Thanks, tax issues confuse me. I'm probably not the only one.

I hear whacha sayin'.

 

[anitram]

Most days I feel that I'll never really understand tax law.

 

[Vincent Vega]

And who has written more than 50% in tax laws alone?

 

[Liesje]

TurboTax, that's all I know about federal income tax! And my dog ate one of our W2s, that sucked.

 

[MadelynIris]

Federal income tax pays for the big ticket items. The stuff you see on the news for the federal budget (think congress and federal programs). In my case, it's about 40% of my income, and in my case it almost all goes. Then on top of that, I also pay state income taxes (5%), sales tax (7% of purchases), local property tax ($8,000 per year), and the variety of fees.

I really don't know what percentage of my take home pay goes to the government, but it is significant. I'm pretty much ok with it. I'm ok with some folks not paying income tax as well. I do like the idea of people contributing to the overall good, and contributing in fair ways to the tax base.

I'm not ok with people promoting raising income taxes, when they do not contribute.

 

[INDY500]

FREEDOM EDEN: Detroit Woman: 'Obama Money' (Audio)

Transcript

KEN ROGULSKI: Why are you here?

WOMAN: To get some money.

ROGULSKI: What kind of money?

WOMAN: Obama money.

ROGULSKI: Where's it coming from?

WOMAN: Obama.

ROGULSKI: And where did Obama get it?

WOMAN: I don't know. His stash. I don't know. I don't know where he got it from but he's giving it to us, to help us. We love him. That's why we voted for him. Obama! Obama!


Here's how another woman responded to Rogulski's questions:

ROGULSKI: Did you get an application to fill out yet?

WOMAN: I sure did. And I filled it out, and I am waiting to see what the results are going to be.

ROGULSKI: Will you know today how much money you're getting?

WOMAN: No, I won't, but I'm waiting for a phone call.

ROGULSKI: Where's the money coming from?

WOMAN: I believe it's coming from the City of Detroit or the state.

ROGULSKI: Where did they get it from?

WOMAN: Some funds that was given by Obama.

ROGULSKI: And where did Obama get the funds?

WOMAN: Obama getting the funds from... Ummm, I have no idea, to tell you the truth. He's the president.

Obviously not taxpayers or they'd know where "Obama money" comes from.

 

[BVS]

Obviously not taxpayers or they'd know where "Obama money" comes from.

Awesome source We should put this woman up against the tea partiers in a Jeopary style trivia show.

 

[KhanadaRhodes]

I'm not ok with people promoting raising income taxes, when they do not contribute.

as someone who gets most their income back during tax time, i wouldn't mind if i got less of a refund or nothing at all. i never budget assuming i'm going to get x dollars back or anything. i'm sure most who fall under this category wouldn't mind if their taxes were raised as well (meaning they'd get less back or nothing at all in some cases). at the very least, i know i wouldn't mind. (not sure if it matters but all my taxes are federal as my state has no income tax.)

 

[BVS]

I'm not ok with people promoting raising income taxes, when they do not contribute.

Wouldn't it be interesting to be consistent with this logic...

If it doesn't effect you directly then you can't speak about it...

How many of us would have to shut up?

Gay marriage wouldn't even be an issue.

 

[yolland]

I'm guessing that what MI has in mind is more a reflexive, 'stick it to The Man for the sake of sticking it to The Man' attitude towards raising taxes in a progressive taxation system. Which I think most would readily agree is not a good way to think about it.