... who posted on the Blew Board:

"22% of those who pay no net federal income taxes do so because of they are retired and Social Security benefits are exempt from federal income taxes."

BZZZZZZZZZZT! WRONG!

If you are misinformed in one area, why should we admit your "expert testimony" in another? What we are discussing here is way above your pay grade. You should stick to that Blew Board where everything is rabid hearsay.

Jus' sayin'

~*~*~*~

http://disc.yourwebapps.com/discussion.cgi?disc=206964;article=578316;title=Civilized%20Political%20Debate

Jeeves
You mean the 0.9%?
Tue Sep 18, 2012 12:16pm
136.181.192.1


"generations of folks who see government as the provider."

That would be people who pay no income tax and no payroll tax. Correct? Those who take from you and don't do any work? The Welfare Queens and their teeming hords of leeching children?

Correct?

How may actually fit this profile?

50% of those who pay no net federal income taxes do so because of low income. For example, a couple with two children earning less than $26,400 will pay no federal income tax this year because their $11,600 standard deduction and four exemptions of $3,700 each reduce their taxable income to zero.

22% of those who pay no net federal income taxes do so because of they are retired and Social Security benefits are exempt from federal income taxes.

15% of those who pay no net federal income taxes do so because they qualify for the earned income tax credit, the child credit, and the childcare credit. The tax code provides these benefits to low-income families, particularly those with children.

And, of course, active duty military personnel don't pay income taxes. LEECHES!!!

The above listed groups account for 87% of the "lucky ducks" who pay no net federal income taxes. When you add in those who do pay payroll taxes, you get an interesting picture:



(Source: http://money.cnn.com/galleries/2012/pf/taxes/1203/gallery.election.moneymag/index.html)

Some of the other people who manage to pay no federal income taxes do so because they can offset their income by declaring losses, reduced tax rates on gapital gains and dividends, education credits, etc.

Do you think that the reason that Romney refuses to release his tax returns is because he sometimes paid no federal income tax? Oh, wouldn't that be embarassing!

If you want to see the data, read http://taxpolicycenter.org/UploadedPDF/1001547-Why-No-Income-Tax.pdf