hal2kilo
Lifer
- Feb 24, 2009
- 23,460
- 10,345
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Fairness in opportunity is good. We have that.
Really.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=878675
Fairness in opportunity is good. We have that.
Well why would he want to be accurate when the truth is that 49% of Americans make 2.4% of all income yet pay 7.5% of all taxes and thus pay a tax burden equal to 3 times what it should be based onr income level. But then the facts are just nasty things that liberals use to show that evil thing called the truth.
http://www.politifact.com/truth-o-m...ornyn-says-51-percent-american-households-pa/"But right now, the fact (is) that according to the Committee on Joint Taxation, 51 percent -- that is, a majority of American households -- paid no income tax in 2009. Zero. Zip. Nada. … Actually, to show how out of whack things have gotten, 30 percent of American households actually made money from the tax system by way of refundable tax credits -- the Earned Income Tax Credit, among others. So 51 percent of American households paid no income tax in 2009, but 30 percent actually made money under the current system."
In a sign that this is becoming a Republican talking point, Cornyn’s comments echoed those made on the floor the same day by Sen. Orrin Hatch, R-Utah.
So, is it true that a majority of Americans aren’t paying any federal income tax? The answer is that Cornyn is correct. And the backstory is interesting.
As Cornyn noted, his statistics come from a document produced by the Joint Committee on Taxation, a respected bipartisan committee of Congress. The JCT found that for tax year 2009, roughly 22 percent of "tax units" (not exactly "households," but we’ll give Cornyn a pass on the terminology) ended up without any tax liability. Another 30 percent got money back from the government, through mechanisms such as the Earned Income Tax Credit, a longstanding policy that encourages low-income Americans to work by refunding money through the tax code. By contrast, JCT found just 49 percent of Americans owed anything to the government.
Figures from the Urban-Brookings Tax Policy Center show that since 2004, the percentage of no-liability tax units has been as low as 39.9 percent in 2007. In fact, 2009 -- the year Cornyn cited -- may prove to be a high point. The center’s projections suggest that the rate could fall to 49.5 percent for tax year 2010 and 46.4 percent in 2011.
EDITED POST FOR 2010 INFO.
http://www.politifact.com/truth-o-m...ornyn-says-51-percent-american-households-pa/
And a over a third 33+% of corporations pay no income tax and some receive refunds as well and make far more money than the 47+% of the little folks that pay none.
Raising taxes isn't going to do anything to provide jobs. Why don't we reward those who have track records for hiring or have implemented to long term employment growth? Businesses get breaks and we have people working. On the other hand of they continue to move jobs overseas then the carrot goes away.
Well, they kept getting rewarded over the last 30 years ( lowest tax rates in recent history) and they still aren't creating jobs. Should they be rewarded further for their failure?
Well, they kept getting rewarded over the last 30 years ( lowest tax rates in recent history) and they still aren't creating jobs. Should they be rewarded further for their failure?
...but the highest corporate tax rates in the western world. Yea our taxes are lower now then before but we still tax more then our competitors.
EDITED POST FOR 2010 INFO.
http://www.politifact.com/truth-o-m...ornyn-says-51-percent-american-households-pa/
Does this include anyone who doesn't owe after completing their taxes? Wouldn't that include people who work out their deductions so they don't owe anything?The JCT found that for tax year 2009, roughly 22 percent of "tax units" ended up without any tax liability.
Doesn't this also include the opposite of the people that I mentioned above? What I mean by that is the people that don't work out their deductions and end up paying too much.Another 30 percent got money back from the government
100% of people polled report that they would rather be a 1%er paying big taxes than a 47%er paying no taxes. Yet GOP still try to paint the 47% as the ones that need to pay more.And a over a third 33+% of corporations pay no income tax and some receive refunds as well and make far more money than the 47+% of the little folks that pay none.
I believe it also includes old people drawing SS.It sounds like the point that people are trying to make is that people are getting a free ride, but the description of the percentages seems to be vague enough to include people that shouldn't be included. See below...
Does this include anyone who doesn't owe after completing their taxes? Wouldn't that include people who work out their deductions so they don't owe anything?
Doesn't this also include the opposite of the people that I mentioned above? What I mean by that is the people that don't work out their deductions and end up paying too much.
What a joke.
I believe it also includes old people drawing SS.
Perhaps all of you clamoring for "fair" should define what "fair" means to you.
This whole thing about class warfare is nonsense.
Taxes have never been lower at any point in our history in the last century or so. Raising them up a few percentage points on the very wealthy isn't going to do anything negative to our economy. We are broke, we need to pay our bills. We can either slash programs everyone loves or ask the rich to pay what they used to.
I think we can and should do both. Most Americans agree.
Looks like a hit and run OP...
add to list of things that could improve in P&N