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re: In 2015, top 20% of income earners paid 83.9% of all federal income taxes
Posted on 9/28/17 at 11:40 am to Y.A. Tittle
Posted on 9/28/17 at 11:40 am to Y.A. Tittle
quote:
As long as we have an income tax everyone making an income should be paying something.
I don't have a problem with people below a certain threshold not paying any income tax.
I do have a problem with those same people MAKING money from various tax credits and the like.
Posted on 9/28/17 at 11:41 am to memphis tiger
quote:agreed 100%
I do have a problem with those same people MAKING money from various tax credits and the like.
unless you consider public welfare programs "making money"
Posted on 9/28/17 at 11:43 am to memphis tiger
quote:
I do have a problem with those same people MAKING money from various tax credits and the like.
The problem is deductions vs credits.
You can't make money off of a deduction - only pay less.
A credit treats as if you paid that amount in taxes, so it basically tricks the system into thinking "Hey, you paid an extra $2000 because you made too little money".
OTOH, because of the weird way deductions work, I'm not surprised that's what they did. What they should have done is rework the tax code to make more sense, not keep building onto a broken system.
Posted on 9/28/17 at 11:45 am to memphis tiger
Income taxes should apply only above a certain basic survival threshold. They should focus on disposable income, exempting money spent on basic needs.
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