do you pay taxes?????

[Meatstick]

i just missed getting the 6500 tax credit for buying a another home, because i bought a couple of months before nov 6, the cutoff..i dont pay ANY federal tax, BUT.. the way i read it, i would have gotten the 6500 cash back anyway...even without paying any taxes, had i waited a couple of months....that is just wrong....

What is so wrong with it ? If it were in your timeframe you would have gotten it and others would have missed it. Then they would be wronged and the cycle continues.

[junker]

What is so wrong with it ? If it were in your timeframe you would have gotten it and others would have missed it. Then they would be wronged and the cycle continues.

no, i meant it is wrong that i could have gotten 6500 tax check back for paying absolutely no taxes....giving away money to anyone making under 200k is just wrong....aparantly there IS such a thing as a free lunch.....and you CAN get something for nothing......

[kornellred]

Money is of no value unless it is changing hands. If you qualify for exemptions and all the other gimmicky programs the government has to reduce your taxes, or even to get a disbursement when you have no tax liability, it is only for the purpose of getting your money into the hands of other entities that cannot escape from paying taxes. The government is a giant circulatory system that keeps money moving. The perceived trouble is that some segments of the economic "body" do not get a fair share of the money, where other segments have more than they need.
Life itself is an imbalance of energies that are continually striving to achieve balance. But if and when balance occurs, nothing happens any longer.

What fun is that?

[dscurlock]

saw a article on taxes....stating that almost 1/2 of us dont pay ANY federal taxes......so whats the problem.....why are we all filing bk????? or are you the other 1/2 that ARE paying to support those of us that arent paying taxes?? i am guilty as i dont pay any federal OR state taxes....and buy MOST everything online or private party so i really dont pay ANY taxes if i can avoid it......heres a excerpt....

WASHINGTON - Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it's simply somebody else's problem.

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization

in my opinion that report was fairly vague...it sounded in a very negative
way that 1/2 do not pay taxes..but did not go futher to state why the
1/2 did not pay taxes...I did not file a return..why? I know I am getting money back, so whats the hurry...how many of that 1/2 maybe taking their time? how many of that 1/2 actually do not owe anything? maybe their incomes are to low...or maybe even exempt altogether...more info
is really needed before you start ragging on that 1/2 that did not file or pay.

[junker]

in my opinion that report was fairly vague...it sounded in a very negative
way that 1/2 do not pay taxes..but did not go futher to state why the
1/2 did not pay taxes...I did not file a return..why? I know I am getting money back, so whats the hurry...how many of that 1/2 maybe taking their time? how many of that 1/2 actually do not owe anything? maybe their incomes are to low...or maybe even exempt altogether...more info
is really needed before you start ragging on that 1/2 that did not file or pay.

seems pretty simple and plain to me...they are not talking about refunds..they are saying through the enormous tax credits and obamaism policies 1/2 are not paying ANY federal tax...the other 1/2 is paying the federal taxes and carrying the load.....and carrying the burden....the other 1/2 are getting the proverbial free lunch......

[flyinbroke]

Unbelievable, but true. Just under 50 percent pay no income tax and the numbers are growing.

I never complain about paying income taxes cause the alternative is.... making no money. But, I do complain about the "welfare" credits that are built into the tax system these days. A person pays no taxes and then gets thousands of dollars in the form of a refund.

Again, I don't mind paying for welfare, but stop calling it a tax refund!

I also do not begrudge the rich people. Most of the self made millionaires work more hours in a week than most people do in a month and they pay the bulk of the income taxes.

That is my beef too. They sit at home, don't work, draw welfare and get thousands in "earned income credit" (HUH??) and child tax credits and other credits so they get thousands refunded back to them. Refunded? Doesn't this imply that you paid something into the system?

I have paid several thousand out of both my income and my military retirement, and they wanted a few thousand more last week. No one answers the phone when you want to do a payment plan though, so I sent what I could and as of yet the check is not cashed.

I am not rich, but I work. Where is my income credit?

[WhatMoney]

That is my beef too. They sit at home, don't work, draw welfare and get thousands in "earned income credit" (HUH??) and child tax credits and other credits so they get thousands refunded back to them. Refunded? Doesn't this imply that you paid something into the system?
I am not rich, but I work. Where is my income credit?

You do NOT get any tax credits unless you are working and earn an income. Maybe you should look up the qualification rules. Tax credits are NOT welfare. Tax credits are also not refunds. This was already discussed here. Ranting about non-facts isn't going to help you.

[WhatMoney]

seems pretty simple and plain to me...they are not talking about refunds..they are saying through the enormous tax credits and obamaism policies 1/2 are not paying ANY federal tax...the other 1/2 is paying the federal taxes and carrying the load.....and carrying the burden....the other 1/2 are getting the proverbial free lunch......

So a family of 4, raising two kids, both parents working and earning a gross income of $50,300 per year, who pay no Federal income tax, are getting a free lunch? Is that what you are saying? Yes or No?

The article only said Federal Income Tax. They still pay Social Security/Medicare/Medicaid Federal payroll taxes, State sales tax, State income tax, Property taxes, Utility taxes, City taxes, gasoline taxes, etc etc...

Why are some making a big deal out of this article - it DID give reasons why some working families pay no FEDERAL INCOME TAX, including examples. What's so difficult about just reading the article?

[junker]

You do NOT get any tax credits unless you are working and earn an income. Maybe you should look up the qualification rules. Tax credits are NOT welfare. Tax credits are also not refunds. This was already discussed here. Ranting about non-facts isn't going to help you.

NO, absolutely not true.....if i would have bought my house after nov 6th, i would have got a check for 6500 bucks...even though i paid NO taxes.....tax credits ARE similar to welfare.....

[BCA2009]

You do NOT get any tax credits unless you are working and earn an income. Maybe you should look up the qualification rules. Tax credits are NOT welfare. Tax credits are also not refunds. This was already discussed here. Ranting about non-facts isn't going to help you.

Incorrect, You do have to have qualified earned income, but it is a Refundable Tax Credit, which means you can get money back from the IRS even if you paid none in.

So low income people with several children can get thousands of dollars as a refund when they never paid any in.

Sounds like welfare to me. I agree with the above poster. I'm ok with welfare, just call it what it is. Don't pretend it's always a return of taxes paid in.

The list of refundable tax credits:

Earned Income Credit
First-time Homebuyer Credit
Excess Social Security Credit
Additional Child Tax Credit
Health Coverage Tax Credit
American Opportunity Credit – partly refundable
Making Work Pay and Government Retiree Credits

[junker]

So a family of 4, raising two kids, both parents working and earning a gross income of $50,300 per year, who pay no Federal income tax, are getting a free lunch? Is that what you are saying? Yes or No?

The article only said Federal Income Tax. They still pay Social Security/Medicare/Medicaid Federal payroll taxes, State sales tax, State income tax, Property taxes, Utility taxes, City taxes, gasoline taxes, etc etc...

Why are some making a big deal out of this article - it DID give reasons why some working families pay no FEDERAL INCOME TAX, including examples. What's so difficult about just reading the article?

YES.....they are getting a free lunch......i paid federal taxes for many, many years...had children.....had houses.....NEVER did i not have to pay income tax...NEVER....IT IS A FREE LUNCH..........

[WhatMoney]

Incorrect, You do have to have qualified earned income, but it is a Refundable Tax Credit, which means you can get money back from the IRS even if you paid none in.

So low income people with several children can get thousands of dollars as a refund when they never paid any in.

Sounds like welfare to me. I agree with the above poster. I'm ok with welfare, just call it what it is. Don't pretend it's always a return of taxes paid in.

The list of refundable tax credits:

Earned Income Credit
First-time Homebuyer Credit
Excess Social Security Credit
Additional Child Tax Credit
Health Coverage Tax Credit
American Opportunity Credit – partly refundable
Making Work Pay and Government Retiree Credits

At least you admit that you must be working to receive a tax credit. That's an improvement over those here claiming you can sit at home doing nothing and receive tax credits.

Of course if your working income is low enough you can receive refundable tax credits in cash if your pre-credit income tax is less than the credit. I have never claimed that is not true. If you own income tax, and your tax credit did not eliminate your tax liability, you would still pay a tax, just a lower tax.

Should tax credits be eliminated for all taxpayers? Your complaint seems to be that a taxpayer who pays $1 in tax after a $2000 tax credit is OK, if his pre-credit tax bill was $2001, but someone who only has a $1000 tax bill should not receive the refundable $1000 credit remaining. Well, complain to the Republicans who lowered the taxes on the middle class for that one. I never knew conservatives were all for higher Federal taxes for the poor and middle-class until this thread.

You can call tax credits welfare if you like. But nearly the entire nation of taxpayers, including the richest and largest corporations are all on welfare with that definition.

[WhatMoney]

YES.....they are getting a free lunch......i paid federal taxes for many, many years...had children.....had houses.....NEVER did i not have to pay income tax...NEVER....IT IS A FREE LUNCH..........

And there are two reasons for that. You had a high enough income to still owe Federal income taxes after all your deductions and exemptions for your family, all your mortgage interest deductions, your CC interest (before the mid 1980's), your business expenses, charity, etc. The EIC went into effect in the 1970's - guess it didn't help you.

Federal taxes have been lowered for years, starting with Reagen. The tax rate on middle class and lower families is the lowest it has been since World War II. So just what are all the anti-tax tea baggers complaining about? Most of them don't pay any Federal taxes in the first place.

Your complaint seems to be you didn't get your fair share. That's what you get for being born too early and having a good income. Of course you need to remember that incomes kept up with inflation when taxes were higher - did you go BK and lose your home when you didn't get the tax breaks families of today are getting?

The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.

OMG, the IRS calls it a tax refund. Well it's time to set them straight - what does the IRS know about taxes?

http://www.irs.gov/individuals/artic...=96406,00.html

[fltoo]

We are a family of 4 that makes less than 50 grand a year so we usually don't have to pay federal taxes but the state of oregon gets us every year! Every year I have to pay them more and more and we are getting less and less. I wish we had a sales tax instead of getting taxed yearly, that way everyone has to pay.

You know all those taxes everyone complains about on their cell phone bill? How would you like to see those taxes applied to your necessary utility bills?

A sales tax in lieu of income tax will severely impact the middle class. They are better off with the federal income tax and state taxes.

The tax you pay to the state is nominal compared to what you would be paying in a national sales tax.

[WhatMoney]

Some tax history from the Reagan era. The proud tradition of the Republicans of raising taxes for the poor and cutting taxes for the rich. Tea baggers complaining about their high taxes - you know who to thank.

Credit card interest was tax-deductible until Reagan’s Tax Reform Act of 1986, which removed that deduction from all consumer loans except mortgages. At the time, interest rates on credit cards were in the 19 percent range.

The top tax rate was lowered from 50% to 28% while the bottom rate was raised from 11% to 15% since many lower level tax brackets were consolidated, and the upper income level of the bottom rate was increased from $5,720/year to $29,750/year. This package ultimately consolidated tax brackets from fifteen levels of income to four levels of income. This would be the only time in the history of the U.S. income tax (which dates back to the passage of the Revenue Act of 1862) that the top rate was reduced and the bottom rate increased concomitantly.