Hi, I found this related link, which has some demographic data on those who have zero or negative tax due. Not sure this is exactly the data you were looking for but it is interesting. For me, the takeaway is that 93% of those who have no tax due make less than $20,000. As social policy, I'm perfectly ok with people who make less than $20K not paying income taxes. $20K is just not very much money. The other 7% probably have a lot of kids. I'd personally be in favor of extra taxes on people with kids rather than tax breaks, since kids require extra government spending, but then I don't have kids and I certainly don't really expect anyone to rally behind my suggestion. I do think it is kind of stupid to use the tax code to motivate people to make babies, however. The west has long since been settled and overpopulation is a problem. barfo
If you say so. From your own link: In addition to these non-payers, roughly 15 million individuals and families earned some income last year but not enough to be required to file a tax return. When these non-filers are added to the non-payers, they add up to 57.5 million income-earning people who will be paying no income taxes. Even 57.5 million is not the actual number of people because one tax return often represents several people. When all of the dependents of these income-producing people are counted, roughly 120 million Americans – 40 percent of the U.S. population – are outside of the federal income tax system.
I agree, but I don't think they should have to pay more taxes for having kids, but I certainly don't think there should be an incentive. A lady I work with has the same exact position, same pay, my tax refund was $1,200.00... she has three kids, her tax refund is $4,500.00 If someone chooses to have kids that's great, but I don't want my tax dollars paying for them.
LOL You're not paying $.01 for them. You possibly still paid taxes even though you got a refund, and the same is true for her.
Where did the money come from to give her a refund? $1,000 tax credit per kid, that's $3,000 she got back, that money came from somewhere.
I know what you are saying, but if she isn't paying it in, then the rest of us are. And as a country we all need those tax dollars. I'm sick of incentives and write offs. I don't know is this is true where you are, but in Arizona you can deduct vehicle registration taxes on your State taxes. I thought we needed to pay that so we can afford to pay the maintenance on roads, build new roads, pay the DMV people, but now you are telling me I can write that off? The whole system needs to be reformed.
Also, I love how this thread started has completely derailed from what the original post was. Where are all you conservative, Tea Party, republicans, Obama-haters (not that I approve of him, for different reasons) who have been complaining since he took office that your taxes are higher, that the dems are destroying middle class America with taxes, Obama is destroying small business. Listen, you can disagree with Obama on a lot of things (foreign policy, health care reform, amnesty) but give the guy props for not raising your taxes.
You make $100 per monthly paycheck with $10 withheld for taxes. over the year, you paid $120 in taxes. you do your tax return and find you owe only $100, so you get a $20 refund. The money came from YOU since you overpaid. And even though you got a refund you still paid $100 in taxes. And the govt. got interest on the $20 you overpaid.
In your opening post, it talked about taxes as a % of the economy (GDP). Govt. has an interest in overstating GDP, so it looks like the economy is doing well. Look at the math and see what happens to taxes as a % of GDP if GDP is higher (taxes are a fixed amount, the actual cash receipts the govt. took in). GDP is a very difficult thing to calculate properly in the first place. There are a lot of assumptions that go into a super complex economic model to arrive at the figures.
Stop Avoiding The Facts. Obama has not raised taxes since he took office. If the economy was better, tax as a percentage of the GDP would be higher than it is right now, but that doesn't change the fact that conservative have been spewing bull shit about Obama raising taxes for the last two years. Fox News, Republican's, Tea Party have all been saying Obama has raised their taxes. The majority of American's think Obama has raised taxes, admit that they are wrong.
http://blogs.abcnews.com/politicalpunch/2009/02/obamas-budget-a.html Obama's Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011 President Obama's budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals.
http://www.cnsnews.com/node/81158 Obama’s Claim That He Did Not Raise Taxes Is Rejected As ‘Blatantly False’ by Taxpayer Watchdog According to Americans for Tax Reform (ATR), President Obama has signed into law at least two dozen tax increases. The first one – a federal tobacco tax hike – came just 16 days into his presidency.
lol. Please, inform me... What federal tax bracket am I in, Mr. Guarantee? This doesn't even make sense. Eliminating deductions will just raise the tax rate for those that are already paying for 50% of the population that doesn't pay any tax.
Ah, the WIFM mentality. Kids also grow up and contribute tax dollars. Take a look a birth rates in Europe, and what is happening to their economies.
Dude, what are you rambling about. Obama has, and will continue to raise my taxes. Do some research and learning before calling people out.
That's no fun, though. It's so much easier to yell "Tea Baggers" and "Palin" than it is to know what is actually occuring in the country.
Let me guess, you are a smoker with a fake tan? If not, which taxes exactly have increased for you? barfo
And china and india have lots of babies, and their economies are booming. Clearly, overpopulation is the way to go. You've opened my eyes. Now I can see children as they truly are: little future taxpayers. barfo
