40 % of the tax filers make a profit under the tax code
By bobmnu
@bobmnu (8157)
United States
April 18, 2011 12:38pm CST
It seems that people who pay no income taxes can receive a check larger than the tax withheld.
http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0
In the example cited in the article a family of husband and wife and two children under age 17 would receive a check from the government for all the tax with held and $31, extra. How much more tax reform for the poor can we afford.
One thing to note is if a rich person (making over $250,000) had deduction and credits equal to their tax owed they would still have to compute the Alternative Minimum Tax and if that showed you owed tax you would have to pay that.
To be fair if you are low income you get paid for not paying taxes and if you are rich you have to pay even if the IRS tax forms say you owe nothing.
1 person likes this
3 responses
@deebomb (15304)
• United States
18 Apr 11
There has always been problems with taxes. That is one of the reasons for the revolution.
Te tax code is so long that those in charge don't even know every thing that is in it. There are 16,845 page in it.
In my opinion they need to go to a sales tax that way every one would be paying at6 least something in taxes. That would eliminate all those deductions that the rich use.
@bobmnu (8157)
• United States
19 Apr 11
I would like to see two things passed into law but don't think it will happen.
1. A Constitutional Amendment limiting the Federal Government to a spending limit that is a percent of the Gross National Product.
2. For any tax increase to be implemented you must get 50 percent plus 1 vote of those eligible to vote approving it. This means that you would have to get more than a simple majority of the people who vote to approve it.
1 person likes this
@bobmnu (8157)
• United States
19 Apr 11
With a sales tax the rich would pay more because they would buy more so that should satisfy the liberals. The one problem with a sales tax is when I was growing up in NY state we had a 5% sales tax, it is now 8.5% and their income tax has also increased. We need spending limits on the government not mrore taxes.
1 person likes this
@OpinionatedLady (5965)
• United States
18 Apr 11
We are in the middle. We get no real help from the government such as our monies plus but we do not get raped in taxes either. I love how the government panders to the poor. Why try to work hard if they will give you what you want. We are on assistance at the moment (husband was laid off just about two weeks ago) and I cannot believe how much we are getting. I am beginning to see why some live off the system and have so much more then those of us in the middle working our a$ses off. I cannot wait to find job for either me or Hubby and not be supported from a third party but I can see the allure to those who are lazy and work the system.
@bobmnu (8157)
• United States
18 Apr 11
I have known several people who got laid off and started working for cash. They could not afford to take a job so they remained collecting unemployment and were delighted when the benefits were extended. We are becoming a nation of takers and the current government is encouraging it.
@OpinionatedLady (5965)
• United States
20 Apr 11
They have ended the extensions I believe but too many are still looking for hand outs at every corner.
@matersfish (6306)
• United States
18 Apr 11
I'm a LONG WAYS AWAY from being in any "top" tax bracket, believe that. But I still get ZERO in tax refund. I only pay in.
So my world's a little different than a lot of folks I know, like my cousin Chris who is unemployed, has two kids, and somehow, by working 2 weeks out of the year just for the purposes of filing, gets around $3k back in taxes.
Yeah. Tax the rich even more to pay for that garbage! I mean, heck, only paying half of what you make already isn't patriotic if you can afford more. 
(I believe these big corporations should pay more--or anything--but that's another debate for me.)
(I believe these big corporations should pay more--or anything--but that's another debate for me.)