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Oh really?Such a stupid lie.
The media household income is $68K.
So in troll fantasyland, a household making $67K pays no federal income tax.
www.ntu.org
Unfortunately they're pretty reliable that way.Then let's do it. What are we waiting for? Democrats control the ship now. Let's see them steer it to an economic destruction right before mid-terms. I'm with ya all the way.
Congress writes the tax laws and often provides exemptions and means for the rich to avoid paying taxes. It wouldn’t surprise me if the legislation passes but the rich in the end don’t end up paying a penny more.france tried taxing earnings over million euros at 75%.
by contrast, what Biden is doing is a billionaire minimum tax rate.
This is where households earning more than $100 million would pay no less than a %20 in taxes.
so, apples & oranges.
More like always. They always make sure to protect themselves and the other fat cats whether they are going after, "The Rich" or "Corporations".Congress writes the tax laws and often provides exemptions and means for the rich to avoid paying taxes. It wouldn’t surprise me if the legislation passes but the rich in the end don’t end up paying a penny more.
Often taxing the rich is just politicians paying smoke and mirrors to get the poor to vote for them.
Maybe but they are passing us technology wise. They have a supersonic missile that we didn't develop yet and are building their military faster than we could wish for ourselves. We will be in conflict with China one day, and if they invade Taiwan, it may be sooner than we think.
Hypersonic is the word you're looking for and yes, we have developed them as well.Maybe but they are passing us technology wise. They have a supersonic missile that we didn't develop yet and are building their military faster than we could wish for ourselves. We will be in conflict with China one day, and if they invade Taiwan, it may be sooner than we think.
www.dw.com
So Vanity Fair, another liberal rag, has a bit piece against a Republican Senator.its republicans who are taxing the poor, not democrats.
And the burden is also carried by the elderly, who live in expensive assisted living homes. If they get a $30,000 a year pension, $20,000 in SS, and take out another $50,000 (a year) from their IRA to cover the assisted living costs, they are stuck paying around $15,000 in federal taxes - and that’s AFTER a lifetime of paying taxes during their working years.That really is pretty accurate, that's what refundable tax credits are.
Single folks and couples without children are carrying quite a burden for the rest if they make more than 100k.
The top 10% carry about 50% of the load for all, the top 25% over 85%.
Not really, unless you bought a long term care policy young, or are very wealthy folks stuck in nursing homes for the duration are all on Medicare, Medicaid or some other form of assistance because it's upwards of a 100,000.00-300,000.00 a year or more cost.And the burden is also carried by the elderly, who live in expensive assisted living homes. If they get a $30,000 a year pension, $20,000 in SS, and take out another $50,000 (a year) from their IRA to cover the assisted living costs, they are stuck paying around $15,000 in federal taxes - and that’s AFTER a lifetime of paying taxes during their working years.
In the meantime, a family with two or three kids that not only has never paid into the federal tax system not only continues to pay NOTHING, but walks away with Granny’s tax money.
Not true. Medicare does NOT cover assisted living. The way that responsible, middle class people cover it - I’m preparing to do the same - is via lifelong savings by living within one means. That way, one can afford to cover the costs for a few years in a relatively modest, but clean and comfortable, ALF.Not really, unless you bought a long term care policy young, or are very wealthy folks stuck in nursing homes for the duration are all on Medicare, Medicaid or some other form of assistance because it's upwards of a 100,000.00-300,000.00 a year or more cost.
If you then have any assets left once you're gone like a car or house the gov't takes them and sells them to offset some of those expenses...
There are ways around that through wills and trusts whereby you give it all away well before needing that kind of care in which then your heirs get the benefit.
The biggest ripoff is that if Gramapa dies before drawing his first SS check, that money is gone period, it doesn't go to any heirs. If the wife didn't have it there's a widow's benefit but generally everyone has their own now so the widow is forced to choose between losing his or losing hers.
Oh really?
View attachment 622808
Who Pays Income Taxes?
(pdf) It is a common refrain from some politicians that the rich are not paying their fair share of income taxes. This sentiment is echoed by findings from a Pew Research poll conducted last April, which indicated that a significant portion of respondents feel that wealthy individuals do not...
You were saying?
Wow. You really should understand things before you vote.
A fami,y with an income of $50,000 does not have a tax liability of 22%, or $11,000:
First, filing jointly puts them in the 12% bracket, not 22%. But even if they WERE in the 22% bracket, that doesn’t mean they have a tax liability of $11,000. The 22% is on the last dollar earned, NOT their entire income.
So let’s backtrack to the 12%. Tney get a $25,000 deduction for the two of them, leaving just $25,000 taxable income. That means they owe $3,000 in tax - NOT $11,000.
Now consider that they get $11,000 tax “credit” (hah) for their three kids. They use that to offset the $3,000 they owe - and walk away with $8,000 from….yes….other people’s taxes! That is welfare.
I‘m starting to see why libs vote for such liberal policies. They don’t have a clue what’s going on.
It shows just what I said, 47% have a negative or net zero federal income tax liability.Yes, really, your graph shows that in fact there is some federal income tax being paid by lower 50% of income (by those closer to median income)
But of course you also need to adjust that by SHARE OF INCOME.
Top 1% pay a big share of federal income taxes, because they make a BIG SHARE OF INCOME.
1) Example 1 as to why the US is fucked. Thanks Galt!I don't. Fuck taxes I always say. It's my patriotic duty as an American to make as much money as I can and not give a cent of it to the government.
Taxation is theft.
It shows just what I said, 47% have a negative or net zero federal income tax liability.
A family of four with a combined income of 70K starts off with a standard deduction of 25k for the couple and 3,000-3,600.00 per kid.
That immediately reduces their taxable income to just 38k, and that doesn't include the rest of the deductions and credits they are entitled to and that's for the "median".
The entire bottom third have a net negative tax liability.
Just 3% of income taxes are raised on the bottom 50% of filers, exactly as I said.
Unfortunately they're pretty reliable that way.
Of course, when the congress flips this fall and some sanity is returned somehow Biden will get the credit for any improvements they make.
Payroll and other taxes are not relevant to a discussion of income taxes.47% is not median. Net zero is not negative.
And this is before we get into payroll and local taxes.
Lisa's Statement that half the country gets money transfers through taxation is plainly false.
Have you not realized yet that anything good happening under a Dem president is good, anything good happening under a republican president the dem's get credit for, but if anything bad happens for either, it's always the fault of the last republican president unless of course congress grows a pair and rejects the budget of a sitting dem "shutting down the country".I'm less worried about that than the disaster they will create and then blaming the Republicans making claim "it" happened under a Republican led Congress. They constantly blame Trump for spending even though he served half of his term with a Democrat led Congress during the worst pandemic anybody alive has ever seen. We all know how much Democrats lie.
I didn’t say half get money transfers. I said a lot get money transfers, and that half pay no taxes.47% is not median. Net zero is not negative.
And this is before we get into payroll and local taxes.
Lisa's Statement that half the country gets money transfers through taxation is plainly false.
you could just click on the link and read it, or should a regirgitate it here?
