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Money and Finances
Reply to ""Tax the Rich""
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]40% of US households don't pay any net federal income tax. Zero. And I am sure they are among the ones calling for the others to pay more[/quote] Disingenuous. There's a 15% tax starting from their first dollar of income.[/quote] There's not even a 15% tax bracket in the US. 10% from $0-11,925 (single fileer), 12% $11,926 – $48,475 22%: $48,476 – $103,350. Where's this 15% you come up with? Standard deduction is $15,750 for single filer.[/quote] You don't seem to understand the tax system. Hint: there are income taxes that don't go by the name "income tax".[/quote] Not really. I wouldn't consider payroll taxes an "income tax" just because they are deducted from one's paycheck. [/quote] They're taxed at 15% of income and fund federal programs. They're federal income taxes. And quite regressive ones, since the rich don't need to pay them on their full income. It simply isn't accurate to claim 40% of households don't pay federal income taxes. At best, you don't being overly pedantic by picking and choosing which types of income taxes you want to count.[/quote]
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