A Parable of Tax Cuts

[Anti.Hero]

You must be a real idiot if you can't benefit from trickle-down.

[ElNono]

Is it really?

The parable relates in 10% inrements of the population what people pay per $100 in federal income taxes. The bottom 40% pay NOTHING! Most of them get more money back than taken from their pay in tax credits and/or earned income credit.

Now what it des, is show what you lib s think of tax breaks. You are furious that 'only the rich' get tax breaks. Why should the bottom 40% get a tax break when that pay nothing in taxes?

The rich man simply decides to leave his friend, leaving less of a tax base to operate with.

This really hapoens!

I know a pretty close person that made $20K last year... I gather that's within the 40% you're talking about? He had to pay $900 in federal taxes at the end of the year... So how is it that the 40% don't pay nothing?

[Wild Cobra]

I know a pretty close person that made $20K last year... I gather that's within the 40% you're talking about? He had to pay $900 in federal taxes at the end of the year... So how is it that the 40% don't pay nothing?

When you take it by all filing status and dependents, about 40% pay no taxes. In this case, if your friend probably had no dependants, made $20,000 with no deductions, then he had a taxble income of $11,250 for a tax liability of $1,293. What happens if you get more people with dependant children in this lower 40%. You get I think a $1,000 tax credit per child, plus earned income credit with one or more qualifying children. This takes the zero tax dollars owed to the federal govenment to about the $43,000 mark for a family of four, or a single mother with three children. Enough tax filers fall into a zero tax payment status, or actually get money, that there are about 40% of the filers in this status.

[ElNono]

When you take it by all filing status and dependents, about 40% pay no taxes. In this case, if your friend probably had no dependants, made $20,000 with no deductions, then he had a taxble income of $11,250 for a tax liability of $1,293. What happens if you get more people with dependant children in this lower 40%. You get I think a $1,000 tax credit per child, plus earned income credit with one or more qualifying children. This takes the zero tax dollars owed to the federal govenment to about the $43,000 mark for a family of four, or a single mother with three children. Enough tax filers fall into a zero tax payment status, or actually get money, that there are about 40% of the filers in this status.

I find it hard to believe. But hey, I'll take your word for it.

[ratm1221]

When you take it by all filing status and dependents, about 40% pay no taxes. In this case, if your friend probably had no dependants, made $20,000 with no deductions, then he had a taxble income of $11,250 for a tax liability of $1,293. What happens if you get more people with dependant children in this lower 40%. You get I think a $1,000 tax credit per child, plus earned income credit with one or more qualifying children. This takes the zero tax dollars owed to the federal govenment to about the $43,000 mark for a family of four, or a single mother with three children. Enough tax filers fall into a zero tax payment status, or actually get money, that there are about 40% of the filers in this status.

So help me understand this. Conservatives are against abortion, but they don't like to pickup up the slack for low income families that can't afford to feed those same kids they wanted to live? Do I have that correct?

[Wild Cobra]

So help me understand this. Conservatives are against abortion, but they don't like to pickup up the slack for low income families that can't afford to feed those same kids they wanted to live? Do I have that correct?

It's irresponsible to have kids you cannot care for. There are also thousands of families who want to adopt newborn babies. Not grown children.

Ever hear of adoption?

[George Gervin's Afro]

It's irresponsible to have kids you cannot care for. There are also thousands of families who want to adopt newborn babies. Not grown children.

Ever hear of adoption?

In other words he can't defend fighting for every life to be born to then turn around and gut whatever federal programs available for the same children he loves.

[KenMcCoy]

So help me understand this. Conservatives are against abortion, but they don't like to pickup up the slack for low income families that can't afford to feed those same kids they wanted to live? Do I have that correct?

They don't like to see people get paid to have more kids. That is what the child credits do.