Who does and does not pay income taxes....graphic illistrations

[diverdog]

http://www.npr.org/blogs/money/2012/09/18/161337343/the-47-percent-in-one-graphic

http://www.npr.org/news/graphics/2012/09/pm-incometax/gr-pm-incometax3-462.gif

http://www.npr.org/news/graphics/2012/09/pm-incometax/gr-pm-incometaxbreakdown-462.gif

http://media.npr.org/assets/img/2012/09/18/breakdown3-06-17-11-01_custom-a75c8687649851cb34253472a5005ecb6a99a436-s3.jpg

Discuss.

[pphilfran]

In that last pie chart...28.3% don't pay income tax...and then they state they pay a payroll tax...what does the payroll tax have to do with income tax payment? Income tax supports the government...payroll tax supports the wage earner...completely different items that have nothing in common with far different problems...

The payroll tax is heavily balanced to the low wage earner...the rate of return for the lower wage scales is significantly higher then those in the upper wage brackets...at least 30% is siphoned from the higher rates and redistributed to the lower rates...it is already a great deal for the low wage earner...

[diverdog]

In that last pie chart...28.3% don't pay income tax...and then they state they pay a payroll tax...what does the payroll tax have to do with income tax payment? Income tax supports the government...payroll tax supports the wage earner...completely different items that have nothing in common with far different problems...

The payroll tax is heavily balanced to the low wage earner...the rate of return for the lower wage scales is significantly higher then those in the upper wage brackets...at least 30% is siphoned from the higher rates and redistributed to the lower rates...it is already a great deal for the low wage earner...

Here is what it said:


Special Bonus Graphic: It's also important to note that income tax is just one of several federal taxes.The payroll tax, which funds Medicare and Social Security, is another big source of revenue for the government. And most households that don't pay income tax do pay payroll tax.
Among those households paying neither income tax nor payroll tax, almost all are either elderly or earning less than $20,000 a year. Here's a graphic from the Tax Policy Center that breaks this down.

The way I read it is that about 19% of American's pay no taxes including payroll taxes. According to the graph that would be the elderly and extremely poor.

I think the reason's more Americans are on government assistance is because we are an aging population and we have a fairly high unemployment rate. Age is still the biggest driver IMHO. 49 million Americans are on SS. That is a huge number but it is also to be expected. We could change this demographic fairly quickly by raising the retirement age.

[OUinFLA]

I already raised my retirement age.
And I suspect I'll just keep raising it for a few more years.

I actually thought I'd be retired by now.

btw, I graduated college in 69.

[diverdog]

Phil:

Another article:

http://money.cnn.com/2012/09/18/pf/taxes/romney-income-tax/index.html?hpt=hp_t2

[Sooner5030]

It is from the Heritage Foundation so understand that every study has a sponsor and a motive. But it does give you another way of looking at things. Of course my motive is that a flat tax is the most "fair". I wont hide that fact.

http://www.heritage.org/federalbudget/charts/2012/top10-percent-income-earners-560.jpg

[diverdog]

It is from the Heritage Foundation so understand that every study has a sponsor and a motive. But it does give you another way of looking at things. Of course my motive is that a flat tax is the most "fair". I wont hide that fact.

http://www.heritage.org/federalbudget/charts/2012/top10-percent-income-earners-560.jpg

Good graphs. I do not always agree with the Heritage Foundation but they do have some awfully smart people working for them. One of my friends worked there years ago. Wharton grad and all.

[olevetonahill]

I already raised my retirement age.
And I suspect I'll just keep raising it for a few more years.

I actually thought I'd be retired by now.

btw, I graduated college in 69.

But we Old farts
I actually Started My School of hard knocks in 69

[hawaii 5-0]

I'll continue to pay my income taxes fairly and raise hell if someone tries to mess with my Social Security and Medicare.

5-0

[olevetonahill]

I'll continue to pay my income taxes fairly and raise hell if someone tries to mess with my Social Security and Medicare.

5-0

Go back to drankin your fermented Coconut milk

[Chuck Bao]

It's interesting that the Republican political base in the Southeast has 8 of the top ten states in highest percent of taxpayers not actually paying US income taxes. I suppose that a higher proportion of low wage earners, military bases and retirement homes would be a major part of it.

Across the board, the numbers are still shocking, as is that Republican VP candidate Paul Ryan paid an effective US income tax rate of only 15%. He's rich, but no where in the league of Mitt Romney. Apparently, they still think that lower tax rates and tax breaks are a sellable political concept.

http://www.theatlantic.com/politics/archive/2012/09/where-are-the-47-of-americans-who-pay-no-income-taxes/262499/?fb_action_ids=4638173955384&fb_action_types=og.recommends&fb_source=timeline_og&action_object_map=%7B%224638173955384%22%3A2791931 58857972%7D&action_type_map=%7B%224638173955384%22%3A%22og.rec ommends%22%7D&action_ref_map=[]

2689

[Skysooner]

http://www.cnn.com/2012/09/18/opinion/granderson-romney-video/index.html?hpt=hp_bn7

Op-ed piece, but it makes the same arguments.

[okie52]

It's interesting that the Republican political base in the Southeast has 8 of the top ten states in highest percent of taxpayers not actually paying US income taxes. I suppose that a higher proportion of low wage earners, military bases and retirement homes would be a major part of it.

Across the board, the numbers are still shocking, as is that Republican VP candidate Paul Ryan paid an effective US income tax rate of only 15%. He's rich, but no where in the league of Mitt Romney. Apparently, they still think that lower tax rates and tax breaks are a sellable political concept.

http://www.theatlantic.com/politics/archive/2012/09/where-are-the-47-of-americans-who-pay-no-income-taxes/262499/?fb_action_ids=4638173955384&fb_action_types=og.recommends&fb_source=timeline_og&action_object_map=%7B%224638173955384%22%3A2791931 58857972%7D&action_type_map=%7B%224638173955384%22%3A%22og.rec ommends%22%7D&action_ref_map=[]

2689


In 2008, Obama lost Georgia by 5 percentage points but he won 70% of voters who earned less than $30,000 -- which is precisely the demo most likely to owe no federal income tax. Obama lost Mississippi by 14 percentage points, but picked up 66% of voters who earned less than $30,000. As a general rule, Republicans win among richer voters -- both in the red states and the blue.


.

[BermudaSooner]

I'll continue to pay my income taxes fairly and raise hell if someone tries to mess with my Social Security and Medicare.

5-0

Fairly? what does that mean? If you don't pay enough one year, do you send and extra check to the government? Who is defining "fairly" for you?

And unless you are on SS or Medicare right now, you don't have SS or Medicare. They are pay-as-you-go systems. There is no special bank account with Mr. 5-0 on it...despite what the SS administration sends you each year. You just hope the earners are willing to pay for your old *** when it is time.

Me, I like to take care of myself and plan as if there won't be a SS or Medicare for me...but then I'm a Conservative that doesn't like living off of other's production.

[pphilfran]

I'll continue to pay my income taxes fairly and raise hell if someone tries to mess with my Social Security and Medicare.

5-0

Get ready to raise hell, unless you are already drawing on SS...a raise in the age to get benefits is going to happen...

[pphilfran]

It ain't the income tax rates...it is the deductions and loopholes...

And revenue is down due to a crappy economy and not the tax rates...if we don't get the economy running at 4%+ growth in GDP then all the tax increases possible won't help a damn thing...

Focus on economic growth and not the gawddamn tax rates...

[Chuck Bao]

In 2008, Obama lost Georgia by 5 percentage points but he won 70% of voters who earned less than $30,000 -- which is precisely the demo most likely to owe no federal income tax. Obama lost Mississippi by 14 percentage points, but picked up 66% of voters who earned less than $30,000. As a general rule, Republicans win among richer voters -- both in the red states and the blue.

That's a pretty stark contrast given that Mississippi's median household annual income is just $39,078 (the last in the nation). It is pretty easy to say "pull yourself up by your bootstraps", but in a weak economy it is probably better to say "tighten your belt". But nobody wants to hear that.

[okie52]

That's a pretty stark contrast given that Mississippi's median household annual income is just $39,078 (the last in the nation). It is pretty easy to say "pull yourself up by your bootstraps", but in a weak economy it is probably better to say "tighten your belt". But nobody wants to hear that.

Tighten your belt is probably more" fitting".