43% of US households to owe no federal income tax in 2013 - Polidicks

[quote]A little more than 43% of U.S. households -- or 70 million homes - will end up owing no federal income taxes for 2013. That's down from recent years because of an improving economy and the expiration of various tax cuts that were passed after the 2008 financial crisis, according to the nonpartisan Tax Policy Center, which published its latest estimates on Thursday. The households with zero income tax liability are not evenly distributed across income groups. The majority this year -- nearly 67% -- have incomes below $30,000. "Many people who pay no income tax simply have too little income to owe tax. The rest benefit from the tax code's many preferences -- exclusions, deductions, exemptions, and credits -- that zero out the tax they would otherwise pay," said Roberton Williams of the Tax Policy Center.[/quote] [url]http://money.cnn.com/2013/08/29/pf/taxes/who-doesnt-pay-federal-income-taxes/index.html?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29[/url]

Title is a bit misleading there, Scorps.

[QUOTE=Doctor Zedacon;42050210]Title is a bit misleading there, Scorps.[/QUOTE] It's the article title :v:

[QUOTE=Emperor Scorpious II;42050244]It's the article title :v:[/QUOTE]True as that may be, and as shitty of CNN as it is, you could have gone with something better if you were aware.

I think it says something when CNN's titles aren't good enough for Facepunch.

[QUOTE=Doctor Zedacon;42050266]True as that may be, and as shitty of CNN as it is, you could have gone with something better if you were aware.[/QUOTE] That would take all the fun out posting the thread.

"Improving economy" My fat polish ass.

MORE PRODUCTION = BETTER ECONOMY, RIGHT GUYS? RIGHT?

But no, it's [u]the rich[/u] who need to start paying [i]even more[/i] money Even though they account for almost all of our tax money as it is

[QUOTE=ZakkShock;42050282]"Improving economy" My fat polish ass.[/QUOTE] Would you prefer the opposite announcement?

[QUOTE=Bazsil;42050491]But no, it's [u]the rich[/u] who need to start paying [i]even more[/i] money Even though they account for almost all of our tax money as it is[/QUOTE] [QUOTE=JgcxCub;42050462]MORE PRODUCTION = BETTER ECONOMY, RIGHT GUYS? RIGHT?[/QUOTE] And now that both sides of the debate are present, lets begin. I'll be abstaining from this one. Proceed.

I made less than $15,000 year before last and I got $30 from the IRS, last year I made $22,000 and I owed $500. The IRS can fuck themselves.

It's not like these people don't pay taxes in other forms. Sales taxes, utilities-related taxes, property taxes (if applicable), payroll, social security, list goes on. There's a dangerous line of thinking if you think these people are simply not contributing at all.

[QUOTE=MercZ;42051010]It's not like these people don't pay taxes in other forms. Sales taxes, utilities-related taxes, property taxes (if applicable), payroll, social security, list goes on. There's a dangerous line of thinking if you think these people are simply not contributing at all.[/QUOTE] But if they end up getting everything they've paid refunded at the end of the year, then they do in fact, not pay anything. [editline]2nd September 2013[/editline] Not every state has sales tax either. [editline]2nd September 2013[/editline] Actually, sales tax doesn't go to the Federal government anyways. [editline]2nd September 2013[/editline] Utilities and property taxes go to the state too.

[QUOTE=JgcxCub;42050462]MORE PRODUCTION = BETTER ECONOMY, RIGHT GUYS? RIGHT?[/QUOTE] Objectively, yes. [QUOTE=Bazsil;42050491]But no, it's [u]the rich[/u] who need to start paying [i]even more[/i] money Even though they account for almost all of our tax money as it is[/QUOTE] Morally, yes.

[QUOTE=Emperor Scorpious II;42050281]That would take all the fun out posting the thread.[/QUOTE] That's not how this works, Scorpius. I know that's what the sub-section [I]says,[/I] but don't take it so literally.

[QUOTE=Megafan;42051384]That's not how this works, Scorpius. I know that's what the sub-section [I]says,[/I] but don't take it so literally.[/QUOTE] He didn't make the headline, though.

[QUOTE=Riller;42051162]Objectively, yes. [/QUOTE] No it doesn't. Any old fool can crank up the production 20-fold. In fact production has soared in the past while due to advances in machinery and robotics. It's the amount bought that counts. And that's going down. [editline]2nd September 2013[/editline] [QUOTE=Sobotnik;42050510]Would you prefer the opposite announcement?[/QUOTE] I'd prefer the truth, yes.

43% of people either find ways to evade taxes, or much more likely, don't even make enough money to get into the minimum tax bracket. No part of this figure is good news for the country.

I made more money in Canada than I did in the United States last year, and I ended up getting back $700 from Canada, only to owe about $600 in the United States. How does that make sense?

[QUOTE=Megafan;42051384]That's not how this works, Scorpius. I know that's what the sub-section [I]says,[/I] but don't take it so literally.[/QUOTE] It's for the better. It pushes people to actually read articles and to treat what they read with healthy skepticism.

[QUOTE=Bazsil;42050491]But no, it's [u]the rich[/u] who need to start paying [i]even more[/i] money Even though they account for almost all of our tax money as it is[/QUOTE] this line of thinking is fucking stupid. They pay most of our tax money because they have like 1000 times as much money as anyone else. What good will it do to tax 25% more from someone who makes 10k a year when tax 2.5% more from someone who makes 400k a year and get four times as much with a much, much smaller relative impact on their income? The idea that the rich should pay less in taxes because they pay more in taxes than people who have less money is retarded if you give it even the smallest amount of thought.

[QUOTE=Bazsil;42050491]But no, it's [u]the rich[/u] who need to start paying [i]even more[/i] money Even though they account for almost all of our tax money as it is[/QUOTE] Because taking 10% of $30k results in "Oh shit I can't make rent" While 10% of $300k results in "Oh, guess I'll not go abroad for a holiday this year"

[QUOTE=Bazsil;42050491]But no, it's [u]the rich[/u] who need to start paying [i]even more[/i] money Even though they account for almost all of our tax money as it is[/QUOTE] if the rich earned even a dime of their money i might actually agree with you.

[QUOTE=Bazsil;42050491]But no, it's [u]the rich[/u] who need to start paying [i]even more[/i] money Even though they account for almost all of our tax money as it is[/QUOTE] How about we just make taxes fair and equal without the rich getting tax cuts instead of dickriding more successful people just because they make more money?

[QUOTE=yawmwen;42054658]if the rich earned even a dime of their money i might actually agree with you.[/QUOTE] Are you saying all wealthy people simply inherited their money?

[QUOTE=Rents;42054474]Because taking 10% of $30k results in "Oh shit I can't make rent" While 10% of $300k results in "Oh, guess I'll not go abroad for a holiday this year"[/QUOTE] Because they earned their god damn money and shouldn't pay more than they have to just because of YOU think they shouldnt be allowed to enjoy their extra cash.

[QUOTE=Emperor Scorpious II;42054758]Are you saying all wealthy people simply inherited their money?[/QUOTE] i'm saying that the rich exploit the people who actually produce useful things for other people. how many ceo's are on the factory floor?

[QUOTE=yawmwen;42054658]if the rich earned even a dime of their money i might actually agree with you.[/QUOTE] They do earn their money. Doesn't matter if some of them inherited it. It is still their money and they gotten it fairly.

[QUOTE=FinalHunter;42054793] Why don't we just make all the rich people pay for the poor people's food and rent and health insurance while we're at it?[/QUOTE] they already do, it's called wage slavery.