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Reply to "We're doing a mortgage refi at 3.75% -- someone tell me why that interest should be deductible?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, can we PLEASE not hear that ridiculous "40% of Americans pay nothing in taxes" line ever again? This is one of the most educated regions in the country, people. THINK.[/quote] In 2011, 46% of households paid nothing in federal income taxes. Why is it wrong to say so? Those people still pay sales tax, and in some, but not most cases, state taxes. So they have some taxes, but not federal income taxes. [/quote] In 2010, the top 50% of of tax payers made 87% of this nation's income. The bottom 50% (whose adjusted gross income was less than $33K/year) took in only 12% of this nation's income. The top 1% of income earners had an effective tax rate of 23% in 2010, while the middle class had an effective tax rate of 16-20% Why are you harping on those who make nothing for not paying their fair share? [/quote]
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