We should all be outraged by the $4.2 billion in refundable tax credits given to illegal aliens just last year alone! Meanwhile, those who are working and not here illegally are carrying more of the burden than ever. The figure fluctuates between 37 and 40% -- that is the percentage of income taxes paid by the top 1% of taxpayers. Meanwhile, they are earning around 20% of the income.
The IRS made payments of $4.2 billion last year in refundable tax credits to illegal aliens, according to an audit by the Treasury’s Inspector General. “Refundable” tax credits are cash subsidies — federal outlays — given to people who don’t pay any income tax.
13 comments:
Today your life only has one of two possible purposes:
1) Live on the taxpayer funded government dole and vote for Democrats.
-or-
2) Pay up whatever amount of money the Democrats demand, then shut up.
After all Democrats think you are property of the government. You obviously cannot be trusted with responsibility for conducting your own affairs.
Congress struggled last year to cut around $35B per year last year.
I see about $45B that could go away easily!
When are you fools going to realize both the Dems and the GOP are filled with windbags.
The rich don't pay their fair share they have a lower tax rate than the middle class....
Be more specific, garry. Which tax rate?
just wonderin' 11:51...how do the "rich" have a lower tax rate than the Middle Class? Are you referring to income tax?
Tax Rate Schedule X, Internal Revenue Code section 1(c)] Single Filing Status
10% on taxable income from $0 to $8,700, plus
15% on taxable income over $8,700 to $35,350, plus
25% on taxable income over $35,350 to $85,650, plus
28% on taxable income over $85,650 to $178,650, plus
33% on taxable income over $178,650 to $388,350, plus
35% on taxable income over $388,350.
Married Filing Jointly or Qualifying Widow(er) Filing Status [Tax Rate Schedule Y-1, Internal Revenue Code section 1(a)]
10% on taxable income from $0 to $17,400, plus
15% on taxable income over $17,400 to $70,700, plus
25% on taxable income over $70,700 to $142,700, plus
28% on taxable income over $142,700 to $217,450, plus
33% on taxable income over $217,450 to $388,350, plus
35% on taxable income over $388,350.
Just how do the rich end up paying most of the taxes when they supposedly have a lower tax rate?
How can people who pay no federal income tax have a higher tax rate than those who pay the majority of those taxes?
11:51 must be thinking about the capital gains tax rate (15%). Warren Buffett's favorite tax rate. 11:51 (and Warren) conveniently forget that the assets that produce the capital gains were bought and paid for with after-tax money (taxed at what rate?).
Even so, median income is taxed at an effective rate of 18% which is higher than 15%. But, in the class, the average effective tax rate is around 10% - 8% if "refundable credits" are taken into account.
As the late British prime minister Benny Disraeli is alleged to have said, "there are 3 kinds of lies: there are lies, there are damned lies, and there are statistics"
Business pay taxes every time they cut a check to an employee and they have to match fica if they buy anything they pay taxes, on the entire accounting deportment, safety people, epa inspection, and the list goes on and on any thing the government mandates on a company IS A TAX and the kicker is that me and you get too pay for it ALL, what part of it that, they do not understand.
How about getting the government out of the business of picking the winners and losers?
When taxation and regulation have gotten to the point that a 12 year old cannot even set up a sidewalk lemonade stand without running afoul of some government hack, things have gotten way out of hand.
The fact that both sides of government have failed to grasp this is telling.
The rich pay the most taxes (in the aggregate) because they have the most money!!!!!! DUH!
Excuse me if I don't get up and do backflips and dance around to Kool and The Gang over the 1% getting tax cuts when I am getting taxed out the yang.
If you like big government handing out subsidies and corporate welfare (the corporate welfare state is huge... this is the welfare wrecking the economy... thank both the GOP and the Dems for that one. If you like spending money we dont have on wars we dont need. You are a big government, right wing socialist.
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