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20% pay 94% of all taxes

Discussion in 'Financial Cents' started by CATO, Jul 12, 2012.

  1. CATO

    CATO Monkey+++

  2. tulianr

    tulianr Don Quixote de la Monkey

    Chart of the Week: Nearly Half of All Americans Don’t Pay Income Taxes
    Rob Bluey
    February 19, 2012 at 9:32 am

    This year’s Index of Dependence on Government presented startling findings about the sharp increase of Americans who rely on the federal government for housing, food, income, student aid or other assistance. (See last week’s chart.)
    Another eye-popping number was the percentage of Americans who don’t pay income taxes, which now accounts for nearly half of the U.S. population. Meanwhile, most of that population receives generous federal benefits.
    “One of the most worrying trends in the Index is the coinciding growth in the non-taxpaying public,” wrote Heritage authors Bill Beach and Patrick Tyrrell. “The percentage of people who do not pay federal income taxes, and who are not claimed as dependents by someone who does pay them, jumped from 14.8 percent in 1984 to 49.5 percent in 2009.”
    That means 151.7 million Americans paid nothing in 2009. By comparison, 34.8 million tax filers paid no taxes in 1984.
    The rapid growth of Americans who don’t pay income taxes is particularly alarming for the fate of the American form of government, Beach and Tyrrell warned. Coupled with higher spending on government programs, it is already proving to be a major fiscal challenge.
    “This trend should concern everyone who supports America’s republican form of government,” Beach and Tyrrell wrote. “If the citizens’ representatives are elected by an increasing percentage of voters who pay no income tax, how long will it be before these representatives respond more to demands for yet more entitlements and subsidies from non-payers than to the pleas of taxpayers to exercise greater spending prudence?”
    CDA-2012-index-dependence-govt-chart-1_732-552x1024. CDA-2012-index-dependence-govt-chart-1_732-552x1024.
    TheEconomist likes this.
  3. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Wonder how many of those individuals were unemployed, retired, and living in a relatives' basement?

    Wish I could claim the F.I.L in the basement as a dependent because he sure is!
  4. Witch Doctor 01

    Witch Doctor 01 Mojo Maker

    Actually you can.... and recieve a tax break as well as a write-off as a care giver... i mean you are keeping him out of an old folks home arn't you....
    Guit_fishN likes this.
  5. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    No I'm mostly keeping him from being a leech on society. If he were able to go to an institution, well let's just say we'd have a going away party here at the compound.
    tulianr likes this.
  6. mysterymet

    mysterymet Monkey+++

    I worked my way into the upper middle class and am sick of paying for societies leeches! They pay negative income tax. That means they get some of our tax money given back to them as a refund for money they never paid in the first place.
    tulianr likes this.
  7. Harbin

    Harbin Monkey+

    I had this discussion with a neighbor last weekend. His brother was over, we got to chatting able taxes and he stats laughing about how he gets more back in a refund than he pays. I eventually heard enough and walked back to my house. I'm so sick of the entitlement attitude.

    Sent from my SPH-D710 using Tapatalk 2
    mysterymet and tulianr like this.
  8. NWPilgrim

    NWPilgrim Monkey++

    I think it is called the Earned Income Credit (laughable name!). A family of four with $30,000 income (for example) will pay zero tax and receive about $6,500 refund. That is a straight transfer of wealth. Our tax system is so corrupt.

    This is just from my observation of acquaintances. I never qualify for free crap. I get to pay $20,000 every year.
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