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Thread: In 2010, 45% of Americans will not owe Federal Income Tax

  1. #1
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    In 2010, 45% of Americans will not owe Federal Income Tax

    http://money.cnn.com/2011/04/14/pf/t...dex.htm?hpt=T2

    For tax year 2010, roughly 45% of households, or about 69 million, will end up owing nothing in federal income tax, according to estimates by the nonpartisan Tax Policy Center. Some in that group will even end up getting paid money from the federal government.

    That does not mean such households end up paying no taxes whatsoever. For instance, those in the group still pay other taxes such as state and local income taxes, as well as property and sales taxes.

    And the group doesn't necessarily get off scot-free when it comes to payroll taxes -- which support Social Security and Medicare.

    More than two-thirds -- or 49 million of the 69 million households -- pay payroll tax. Of those, 34 million end up paying more in payroll taxes than they get back on their federal return. The other 15 million pay payroll tax but they get enough refundable credits to offset what they paid. (Get a 'receipt' for your taxes)

    Contrary to what many assume, membership in the group isn't restricted to the poor.

    It's true that the vast majority of the 69 million households make less than $50,000 -- with very heavy representation among households making less than $30,000.

    But nearly 5 million households in the group make somewhere between $50,000 and more than $1 million.

    Very high-income households can fall into the non-payer group if they get their income from tax-exempt bonds or overseas sources for which they get foreign tax credits, according to Roberton Williams, a senior fellow at the Tax Policy Center.

  2. #2
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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    Well the percentage of non-income taxpayers is decreasing and it is enlightening to see that some of these non-income taxpayers actually are not in the bottom 20% of earners.

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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    When Republicans cut tax rates and manage to keep them there for most of a decade, don't get all surprised when people wind up paying less tax.

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    True Maroon OffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forumsOffThePorch has a great deal of respect on the forums OffThePorch's Avatar
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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    i think you guys missed the point... 45% of Americans dont pay Income tax. Focus on just that for a minute before knee jerking...

    imo almost everyone should pay taxes before we ever think about raising taxes on those of us paying....

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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    Quote Originally Posted by OffThePorch View Post
    i think you guys missed the point... 45% of Americans dont pay Income tax. Focus on just that for a minute before knee jerking...

    imo almost everyone should pay taxes before we ever think about raising taxes on those of us paying....

    Bush & Co. cut taxes for the great majority of Americans including lower wage earners. Just what did you think that would mean? This is part of that outcome.

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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    Quote Originally Posted by CShine View Post
    Bush & Co. cut taxes for the great majority of Americans including lower wage earners. Just what did you think that would mean? This is part of that outcome.
    Bush was bad... but Bush is gone... lets think future instead of the usual knee jerk.. try it.. 45% needs to be lowered by a lot... everyone rich & poor should pay..

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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    Quote Originally Posted by OffThePorch View Post
    Bush was bad... but Bush is gone... lets think future instead of the usual knee jerk.. try it.. 45% needs to be lowered by a lot... everyone rich & poor should pay..
    Aha, then raise taxes.

    Tea Party Time!

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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    Quote Originally Posted by CShine View Post
    Aha, then raise taxes. Tea Party Time!
    See a Doctor... im pretty sure you've had a stroke.

  9. #9
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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    Quote Originally Posted by CShine View Post
    Bush & Co. cut taxes for the great majority of Americans including lower wage earners. Just what did you think that would mean? This is part of that outcome.
    All we ever heard from you guys was that "Bush gave tax cuts to the rich." Now you change the templet when the truth cannot be denied any longer. I agree with OTP that all working Americans should be paying as least some income tax........the bottom 45-47% doesn't pay a dime towards funding the military or the general fund that pays for government operations........that is not fair nor is it right.


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  10. #10
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    Re: In 2010, 45% of Americans will not owe Federal Income Tax

    Quote Originally Posted by OffThePorch View Post
    See a Doctor... im pretty sure you've had a stroke.

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