It is tax season and just read an article that upsets me a lot. Cannot talk intelligently as many of you can about this, but I DO know we have a deficit problem....a few things from the article that are somewhat annoying..
....47% of the households in USA will pay NO income tax
....credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17.
....Much has been said about the tax cuts for the "wealthy" yet nobody talks about the tax cuts made by Obama using the "stimulus" bill which benefited only low and middle income folks.
....The top 10% of earners paid 73% of the tax
....Because of tax credits, etc. the bottom 40% make a profit meaning that their credits are more than income tax and they get a check from the government.
http://finance.yahoo.com/news/Nearly....html?x=0&.v=1
Now, I openly admit to not being that smart, but something tells me that some things need to be changed in this country. When 40% of tax filers are using it as income from a government that is just about broke....maybe we should take another look at this.