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Originally Posted by Guest
Again with the 47%! This is the breakdown of the 47% from Fox News. 10.3% elderly. This people are living on social security, and small pensions. Their combined income doesn't throw them into a tax payment situation.
6.9% non-elderly Either make less than $9,500. or do not work. They do not file income taxes.
28.3% They pay social security, and Medicare Taxes. They work at very low wages or part time jobs, which doesn't raise them to the level where they have to pay income taxes. They receive Earned Income Credit.
less 1% other.
The Bush tax cut lowered the tax rate for all tax brackets. There were some capital gains changes. The child credit went from $500. to $1,000. per child. These changes benefitted the higher tax brackets more than the all the others. Other than the child tax increase, it didn't do a damn thing to the 47% of people that pay taxes. First grade math any number multiplied by zero the answer is zero.
The 47% was a mistake by Romney. It might have cost him the election. A great number of the 47% live in Republican dominated states. The takers in these states certainly didn't change the outcome in these states. Concerning the Democrat states on each coast, these states are paying more in taxes than they are receiving back from the federal government. Your argument doesn't hold water.
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The 47% was used as an estimated number. No one said different. If you figure the numbers though, with the changes in the tax rates, and deductions, plus the idea of EITC, many folks filed and received gov money that they never paid into the system. If you do the math, a family of four making $50K per year, paid $0. I know for a fact that some folks received hundreds in money not deducted from their income.
It's ok for Obama or other liberals to generalize and scoff off any critical comments when pointed out, but heaven help a conservative if he/she makes a sweeping comment or estimate.
The fact is that Bush's tax breaks, although good for the economy, made it hard for conservatives running for election. Those NOT paying taxes will jump on the liberal band wagon when it comes to unfairly taxing the wealthy. And fairness is when ALL are treated EQUALLY. You want to be fair in taxation, then do away with income tax and go to a federal sales tax.