Nearly half of all households in US, do not owe federal income tax - U2 Feedback

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Old 10-04-2009, 07:19 PM   #1
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Nearly half of all households in US, do not owe federal income tax

47% of households owe no tax - and their ranks are growing - Sep. 30, 2009

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NEW YORK (CNNMoney.com) -- Most people think they pay too much to Uncle Sam, but for some people it simply is not true.

In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.

Some in that group will even get additional money from the government because they qualify for refundable tax breaks.

The ranks of those whose major federal tax burdens net out at zero -- or less -- is on the rise. The center's original 2009 estimate was 38%. That was before enactment in February of the $787 billion economic recovery package, which included a host of new or expanded tax breaks.

The issue doesn't get a lot of attention even as lawmakers debate how to pay for policy initiatives like health reform, whether to extend the Bush tax cuts and how to reduce the deficit.

The vast majority of households making up to $30,000 fall into the category, as do nearly half of all households making between $30,000 and $40,000.

As you move up the income scale the percentages drop.

Nearly 22% of those making between $50,000 and $75,000 end up with no federal income tax liability or negative liability as do 9% of households with incomes between $75,000 and $100,000.
And their is more...

I get the idea of a progressive tax system. But isn't this a little to progressive. Should have the country not contribute to the federal tax revenue? Seems a bit unfair. Perhaps is should just be a very low percentage, but still pay something, just to contribute to the overall good of society.

?
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Old 10-04-2009, 08:27 PM   #2
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I'm kind of surprised by these stats. Not sure what to think at the moment. At a time when the deficit needs plugging it might not be unreasonable to increase the income tax on middle-to-high range earners, say 50-100k. However I would not agree with increasing taxes on households with incomes below say 30 or 40k.
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Old 10-04-2009, 08:41 PM   #3
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Originally Posted by MadelynIris View Post
But isn't this a little to progressive.
no.
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Old 10-04-2009, 10:02 PM   #4
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Basically, the working class pays a little more during the tax revenue year. Claiming little or no deductions. Thus, letting the government invest or use our money, how ever it chooses, while earning interest. Money is taken from our paychecks, which is overpaid, by us. So, we get a tax refund. To say that the working class doesn't pay taxes. Is ridiculous.....

We don't have the same "tax havens" or write off expenditures, as the rich.
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Old 10-04-2009, 10:18 PM   #5
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Originally Posted by MadelynIris View Post
Should have the country not contribute to the federal tax revenue? Seems a bit unfair.
You seem to be slightly confused. You don't think we're paying?

Last time I looked I still have taxes taken out of every pay check of mine.
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Old 10-05-2009, 12:00 AM   #6
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Originally Posted by BVS View Post
You seem to be slightly confused. You don't think we're paying?

Last time I looked I still have taxes taken out of every pay check of mine.
that's what i was thinking. just because most do not owe money at the end of the year doesn't mean they pay nothing. it means the person was smart enough to fill out their w-2s so they would not owe. i usually get a refund every year. it's not equal to what i paid throughout the year though. it doesn't zero out. i'm not complaining though. taxes are a necessity.
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Old 10-05-2009, 12:52 AM   #7
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The article is right. The botton 50% of taxpayers pay under 5% of the Federal taxes. I suppose I'd be singing "Mmm, Mmm, Mm" odes to politicians too if I knew I wouldn't be footing the bill for their spending sprees.
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Old 10-05-2009, 01:10 AM   #8
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considering the top 5% own 95% of the wealth in this country, i guess it seems about right.

and yet, we have GOP politicians saying that every problem under the sun for the lower-income white folks in red states are due to a black man running things having high taxes.

'fraid not. you can't afford child care not because your taxes are high, but because your wages have actually decreased over the past 8 years and your health care has skyrocketed.
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Old 10-05-2009, 01:17 AM   #9
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The article is right. The botton 50% of taxpayers pay under 5% of the Federal taxes. I suppose I'd be singing "Mmm, Mmm, Mm" odes to politicians too if I knew I wouldn't be footing the bill for their spending sprees.
Cry me a river.

Mr Smith and Mr Jones went to the same school, both have bachelor's degree, both work the same hours, both work their ass off. Both succesful in their fields. Mr Smith is an architect. Mr Jones a petroleum engineer. Mr Smith struggles to put his 2 kids through college, while Mr Jones puts his 2 kids through no problem with huge amounts of disposable income to boot and he's bitching because he pays more taxes? Really? Just because he chose a different major?
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Old 10-05-2009, 01:35 AM   #10
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In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.
Not owing doesn't mean "didn't pay".

In fact, that 47% includes those who paid too much.

Talk about a com-fucking-pletely misleading thread title.

ETA, I had to actually click the link to make sure I wasn't pointing the finger at the wrong person. Yep, sure enough.

The title of the article says "47% owe no tax".
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Old 10-05-2009, 10:38 PM   #11
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The ranks of those whose major federal tax burdens net out at zero -- or less -- is on the rise. The center's original 2009 estimate was 38%. That was before enactment in February of the $787 billion economic recovery package, which included a host of new or expanded tax breaks.
Net out to zero. That means at the end of the day, you're net loss to the gov is 0.

That means your contribution to the federal tax revenue is 0.

But you are paying social security, and medicare, for services rendered someday.
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Old 10-05-2009, 10:50 PM   #12
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Originally Posted by BVS View Post
You seem to be slightly confused. You don't think we're paying?

Last time I looked I still have taxes taken out of every pay check of mine.
Same here........
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Old 10-05-2009, 10:50 PM   #13
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Originally Posted by MadelynIris View Post
Net out to zero. That means at the end of the day, you're net loss to the gov is 0.
i wonder if the net calculation includes the opportunity cost of allowing the government to hold a portion of our income for most of the year? not really directed at you, just generally curious.

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That means your contribution to the federal tax revenue is 0.
But you are paying social security, and medicare, for services rendered someday.
as well as a federal gas tax and fees for any federal service that might charge.
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Old 10-05-2009, 10:52 PM   #14
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Not owing doesn't mean "didn't pay".

In fact, that 47% includes those who paid too much.

Talk about a com-fucking-pletely misleading thread title.

ETA, I had to actually click the link to make sure I wasn't pointing the finger at the wrong person. Yep, sure enough.

The title of the article says "47% owe no tax".
Yes......that's more like it!
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Old 10-05-2009, 10:55 PM   #15
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Originally Posted by Irvine511 View Post
considering the top 5% own 95% of the wealth in this country, i guess it seems about right.

and yet, we have GOP politicians saying that every problem under the sun for the lower-income white folks in red states are due to a black man running things having high taxes.

'fraid not. you can't afford child care not because your taxes are high, but because your wages have actually decreased over the past 8 years and your health care has skyrocketed.
Bravo!
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