47% is now 43%

[Soggy in NOLA]

It was an ignorant statement when Romney made it. Many of the people that don't pay INCOME taxes are retires collecting tax-free retirement benefits and social security. Take them out of the equation and that 47% (now 43%) would look more like 22-25% or lower.

Well, you're quite an expert:

How many people don't pay income because they moved into their parents' basements because they couldn't find a job?

A fresh college student living in their parent's basement who has a low paying job is more likely than not paying income taxes! Even if they make $20K! The reasoning? No deduction. No children, no dependents, no mortgage, no home-owners, no charity etc. More than likely they aren't in the 43 or 47%!

No deductions? Everybody gets the standard deduction plus their exemption... Wrong again....

 

[Moonglow]

The facts do not support this hypothesis:

2. About half of the 43 percent will owe no federal income tax because their [adjusted] incomes are too low. The other half will face no income tax because they qualify for credits, such as the earned income tax credit and the child credit.

Deductions (e.g. for state and local taxes, and mortgage interest) are different than credits. Both the credits sited are generally only given to lower income earners, thus the more lower income earners in the population, the % that owe no Federal income INCREASES. The fact that half of the 4% change (2%) could theoretically be attributed to there being a rise in income.

If anything, the rise in income is indicative of FEWER jobs being "moved overseas."

The trend is now reversing and the future estimates puts many of the companies moving back to the US, but since we a re talking about the past it was very clear that the trend of the past years did influence jobs and availability in the US.

So the point you're making is that your points are based on data that are no longer valid.


Bravo!

it's a slow process.

 

[Moonglow]

Romney's untaxed '47 percent' of Americans shrinks

The "47 percent" of U.S. households who owe no federal income tax, memorably disparaged last year by former Republican presidential candidate Mitt Romney, has shrunk to 43 percent, said the research group that produced the original estimate.

New data on Thursday from the nonpartisan Tax Policy Center said 43 percent of households will owe no federal income tax in 2013, down from an estimated 47 percent in 2009.

Looking further ahead, the center forecast that by 2024, about a third of households will owe no federal income tax.

It was an ignorant statement when Romney made it. Many of the people that don't pay INCOME taxes are retires collecting tax-free retirement benefits and social security. Take them out of the equation and that 47% (now 43%) would look more like 22-25% or lower.

Well, you're quite an expert:

How many people don't pay income because they moved into their parents' basements because they couldn't find a job?

livable basements must be a northern thang, in the south-southwest there are not very many basements on houses. Around here there are a lot of out buildings.

 

[GHook93]

Well, you're quite an expert:

How many people don't pay income because they moved into their parents' basements because they couldn't find a job?

A fresh college student living in their parent's basement who has a low paying job is more likely than not paying income taxes! Even if they make $20K! The reasoning? No deduction. No children, no dependents, no mortgage, no home-owners, no charity etc. More than likely they aren't in the 43 or 47%!

Low Paying Job?


No, these were all moved overseas.

Being cynical I see! There are jobs here. My little cousin got a low paying job out of college as an analyst assistant two summers ago. I think he said close to $24K a year. He paid taxes, opt out of health insurance and lived at home. Year and half later he got a better job paying $55K and was able to rent an apartment. In two or three year or so, he claims to have enough of a resume to move up again to $100K range easily. 5 year career path that probably wouldn't have been available if he didn't have supportive parents!

Living at home while you start out shouldn't be as frowned upon as people like you do. If a kid is trying to make it and starts out with a career path, career starter job to gain experience than that is a good thing! Heck many jobs in the beginning are unpaid internships. I have know a dozen or so young kids that have started at my company that way and got a good job here or another place. How could a kid jump at such a job without having a free place to live?

 

[Moonglow]

A fresh college student living in their parent's basement who has a low paying job is more likely than not paying income taxes! Even if they make $20K! The reasoning? No deduction. No children, no dependents, no mortgage, no home-owners, no charity etc. More than likely they aren't in the 43 or 47%!

Low Paying Job?


No, these were all moved overseas.

Being cynical I see! There are jobs here. My little cousin got a low paying job out of college as an analyst assistant two summers ago. I think he said close to $24K a year. He paid taxes, opt out of health insurance and lived at home. Year and half later he got a better job paying $55K and was able to rent an apartment. In two or three year or so, he claims to have enough of a resume to move up again to $100K range easily. 5 year career path that probably wouldn't have been available if he didn't have supportive parents!

Living at home while you start out shouldn't be as frowned upon as people like you do. If a kid is trying to make it and starts out with a career path, career starter job to gain experience than that is a good thing! Heck many jobs in the beginning are unpaid internships. I have know a dozen or so young kids that have started at my company that way and got a good job here or another place. How could a kid jump at such a job without having a free place to live?

This nation has always had children in the house, it was once traditional that the younger family members took care of the older members and carried on the family estate. It was after WWI that the nuclear family has splinter the centuries of traditional house members. My children are welcomed to stay at home as long as they are producers and they not allowed to be unproductive.

 

[DiamondDave]

Wow.....Conservatives sure are party poopers

They have posted endless threads about the 47% of Americans they call deadbeats and now that the trend is dropping significantly they still bitch

I thought more Americans paying taxes would make you happy?

Still not enough until every adult citizen making even $1 is paying income tax on that dollar

 

[Samson]

A fresh college student living in their parent's basement who has a low paying job is more likely than not paying income taxes! Even if they make $20K! The reasoning? No deduction. No children, no dependents, no mortgage, no home-owners, no charity etc. More than likely they aren't in the 43 or 47%!

Low Paying Job?


No, these were all moved overseas.

Being cynical I see! There are jobs here. My little cousin got a low paying job out of college as an analyst assistant two summers ago. I think he said close to $24K a year. He paid taxes, opt out of health insurance and lived at home. Year and half later he got a better job paying $55K and was able to rent an apartment. In two or three year or so, he claims to have enough of a resume to move up again to $100K range easily. 5 year career path that probably wouldn't have been available if he didn't have supportive parents!

Living at home while you start out shouldn't be as frowned upon as people like you do. If a kid is trying to make it and starts out with a career path, career starter job to gain experience than that is a good thing! Heck many jobs in the beginning are unpaid internships. I have know a dozen or so young kids that have started at my company that way and got a good job here or another place. How could a kid jump at such a job without having a free place to live?

Actually, I wasn't "frowning upon" anything, just pointing out that there is a population of adults outside of the retirement community that may not pay taxes, and that could be included in the OP's statistics.

However, remarking on Low Paying Jobs being moved overseas, was, in fact, sarcasm.

 

[GHook93]

Well, you're quite an expert:

How many people don't pay income because they moved into their parents' basements because they couldn't find a job?

A fresh college student living in their parent's basement who has a low paying job is more likely than not paying income taxes! Even if they make $20K! The reasoning? No deduction. No children, no dependents, no mortgage, no home-owners, no charity etc. More than likely they aren't in the 43 or 47%!

No deductions? Everybody gets the standard deduction plus their exemption... Wrong again....

Do the tax calculator then. At $20K income, single, no mortgage, no charity, deduction for student loan interest, 4% state taxes and the person pay close to $1000 in taxes at a margin tax rate of 15%!

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/


You keep saying I am wrong, but I keep posting proof to your fluff!

 

[DiamondDave]

A fresh college student living in their parent's basement who has a low paying job is more likely than not paying income taxes! Even if they make $20K! The reasoning? No deduction. No children, no dependents, no mortgage, no home-owners, no charity etc. More than likely they aren't in the 43 or 47%!

No deductions? Everybody gets the standard deduction plus their exemption... Wrong again....

Do the tax calculator then. At $20K income, single, no mortgage, no charity, deduction for student loan interest, 4% state taxes and the person pay close to $1000 in taxes at a margin tax rate of 15%!

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/


You keep saying I am wrong, but I keep posting proof to your fluff!

More evidence of the overly complex progressive system that is filled with subjective exclusions, deductions, exemptions, etc... kinda makes a flat tax with none of that all the more appealing, eh??

 

[Vel]

Romney's untaxed '47 percent' of Americans shrinks

The "47 percent" of U.S. households who owe no federal income tax, memorably disparaged last year by former Republican presidential candidate Mitt Romney, has shrunk to 43 percent, said the research group that produced the original estimate.

New data on Thursday from the nonpartisan Tax Policy Center said 43 percent of households will owe no federal income tax in 2013, down from an estimated 47 percent in 2009.

Looking further ahead, the center forecast that by 2024, about a third of households will owe no federal income tax.

You might find the answer as to why this has occurred by looking at the tax credits that Obama added in 2009 and the expiration of those credits.
Give tax credits, fewer people pay taxes. Take tax credits away, more people pay taxes. It's pretty simple. This story is more smoke and mirrors to distract from the failure of this POTUS to truly improve the economy.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

 

[rightwinger]

Romney's untaxed '47 percent' of Americans shrinks

The "47 percent" of U.S. households who owe no federal income tax, memorably disparaged last year by former Republican presidential candidate Mitt Romney, has shrunk to 43 percent, said the research group that produced the original estimate.

New data on Thursday from the nonpartisan Tax Policy Center said 43 percent of households will owe no federal income tax in 2013, down from an estimated 47 percent in 2009.

Looking further ahead, the center forecast that by 2024, about a third of households will owe no federal income tax.

You might find the answer as to why this has occurred by looking at the tax credits that Obama added in 2009 and the expiration of those credits.
Give tax credits, fewer people pay taxes. Take tax credits away, more people pay taxes. It's pretty simple. This story is more smoke and mirrors to distract from the failure of this POTUS to truly improve the economy.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

So more people are paying taxes....got it

 

[DiamondDave]

Romney's untaxed '47 percent' of Americans shrinks

The "47 percent" of U.S. households who owe no federal income tax, memorably disparaged last year by former Republican presidential candidate Mitt Romney, has shrunk to 43 percent, said the research group that produced the original estimate.

New data on Thursday from the nonpartisan Tax Policy Center said 43 percent of households will owe no federal income tax in 2013, down from an estimated 47 percent in 2009.

Looking further ahead, the center forecast that by 2024, about a third of households will owe no federal income tax.

You might find the answer as to why this has occurred by looking at the tax credits that Obama added in 2009 and the expiration of those credits.
Give tax credits, fewer people pay taxes. Take tax credits away, more people pay taxes. It's pretty simple. This story is more smoke and mirrors to distract from the failure of this POTUS to truly improve the economy.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

So more people are paying taxes....got it

And still close to half do not.. got it

 

[Vel]

Romney's untaxed '47 percent' of Americans shrinks

The "47 percent" of U.S. households who owe no federal income tax, memorably disparaged last year by former Republican presidential candidate Mitt Romney, has shrunk to 43 percent, said the research group that produced the original estimate.

New data on Thursday from the nonpartisan Tax Policy Center said 43 percent of households will owe no federal income tax in 2013, down from an estimated 47 percent in 2009.

Looking further ahead, the center forecast that by 2024, about a third of households will owe no federal income tax.

You might find the answer as to why this has occurred by looking at the tax credits that Obama added in 2009 and the expiration of those credits.
Give tax credits, fewer people pay taxes. Take tax credits away, more people pay taxes. It's pretty simple. This story is more smoke and mirrors to distract from the failure of this POTUS to truly improve the economy.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

So more people are paying taxes....got it

So you also understand that the 47% was a government induced high and that this drop is meaningless as to it's statement on economic improvement.

 

[rightwinger]

You might find the answer as to why this has occurred by looking at the tax credits that Obama added in 2009 and the expiration of those credits.
Give tax credits, fewer people pay taxes. Take tax credits away, more people pay taxes. It's pretty simple. This story is more smoke and mirrors to distract from the failure of this POTUS to truly improve the economy.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

So more people are paying taxes....got it

So you also understand that the 47% was a government induced high and that this drop is meaningless as to it's statement on economic improvement.

So Mitt Romney whining about the 47% was bullshit too

 

[Vel]

So more people are paying taxes....got it

So you also understand that the 47% was a government induced high and that this drop is meaningless as to it's statement on economic improvement.

So Mitt Romney whining about the 47% was bullshit too

The fact that Obama helped create the 47% through tax credits shows exactly what Romney was talking about. You can't beat Santa Claus.

 

[Freewill]

I guess when liberals have nothing else they will cheer bad news which isn't quite as bad as it was. Sad really.

 

[Samson]

So more people are paying taxes....got it

So you also understand that the 47% was a government induced high and that this drop is meaningless as to it's statement on economic improvement.

So Mitt Romney whining about the 47% was bullshit too

The "drop is meaningless" = Quoting the 47% that is now 43% is "Bullshit too?"

Did you and MSN have nothing better to do 10 months after the election?

 

[GHook93]

No deductions? Everybody gets the standard deduction plus their exemption... Wrong again....

Do the tax calculator then. At $20K income, single, no mortgage, no charity, deduction for student loan interest, 4% state taxes and the person pay close to $1000 in taxes at a margin tax rate of 15%!

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/


You keep saying I am wrong, but I keep posting proof to your fluff!

More evidence of the overly complex progressive system that is filled with subjective exclusions, deductions, exemptions, etc... kinda makes a flat tax with none of that all the more appealing, eh??

I am more of a fair tax guy, but I would like the flat tax or a much simpler taxing system. It's insane right now.