Quote:
Originally Posted by JMintzer
Per the IRS, you would be wrong. It's nowhere NEAR 80%> It's actually just under the 50% number I stated...
Oh, and the numbers were even higher in 2020 (61%) and in 2021 (57%). But those years were skewed due to Covid shutdowns...
Here is an example from 2009...
Is it true that only 53 percent of Americans pay income tax? | HowStuffWorks
Who are these imaginary "GREED" boogeymen you're talking about? Do they have meetings? A secret handshake?
And no, since the 50's subsequent generations did not do worse than their parents. That is a recent development...
No no, EVERYBODY does not know that false statement...
Yes, manufacturing in China started moving back some 5-6 years ago... I wonder what the cause was (your "tongue in cheek" delusions of grandeur not withstanding...).
But they will only return to the US if the politicians don't resume raising corporate taxes. Simple economics... |
Ok, I read the link which states, "Only 49% of Americans owed money on their Federal income tax returns. I can accept that as TRUE. THAT MEANS 51% DID not OWE money to the Fed. government for that particular year. NOW.......The 1040 is an end-of-year RECONCILIATION to determine who owes and how much. Does the taxpayer owe more money OR did they overpay the Fed. government and the government OWES them a REFUND.
........Many, many, many people do not budget well enough to break even with the Fed Government at the end of the year, which would be fiscally ideal, because then the taxpayer gets the time value of money throughout the WHOLE year instead of the Government. Many, many taxpayers HATE to owe money at the end of the year. Because of this desire, they tend to OVERPAY throughout the year. They will do things like ......they may have 4 total exemptions, BUT, they only DECLARE 3......Why because they decide, "better to be safe than sorry" when dealing with the IRS. They do NOT want to pay taxes AND a penalty for the year.
So, since many, many are OVERPAYING to the Fed government throughout the year.....THAT is the reason that 51% of taxpayers do NOT pay ADDITIONAL taxes at the end of year. (refer back to my 2nd sentence) What it DOES NOT mean is that 51% paid ZERO taxes INTO the government on a month-by-month basis.
In general, working people PAY taxes. Exceptions would be like low wages and married with 5 children or more and lots of medical bills or itemizations. Massive US workers on the dole are an urban legend. Now people that can't work through no fault of their own and can only survive by the Federal government paying them in food stamps, public housing and other ways.........are a different story. But, we were talking about WORKING people here.