Credits for low- and middle-income families exempt many
WASHINGTON - Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it's simply somebody else's problem.
About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization.
Most people still are required to file returns by the April 15 deadline. The penalty for skipping it is limited to the amount of taxes owed, but it's still almost always better to file: That's the only way to get a refund of all the income taxes withheld by employers.
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7 comments:
It's always the poor that get this story, never those with the means to avoid taxation.
What is the percentage of those individuals making over $350,000 per year who do not pay taxes?
i dont mind that low income families dont have to pay taxes and i agree with that to an extent. but these families are not only refunded the money they paid in but i have witnessed families receiving thousands in addition to ($7000 in a couple cases). how is that fair?
9:08
Answer to your question:
NONE!
9:32, I'm in full agreement. My own sister recieves close to $7000 back. She had 2 kids and now has a third mouth to feed without the income to support them. I believe in lowering taxes but the extra credits should go directly into the medicaid system or a private insurance fund to cover the kids, not be issued directly back to the parents so they can spend on BS.
We had neighbors that lived together but were not married. They had 2 kids and were able to get food stamps and who knows what else. Between the 2 of them they made as much as we did. They got back almost 3 times as much as we did each year in refunds because they were not married. How fair is this?
My tax preparer,a professional,admitted to me that were my husband and I not married we would have cleaned up.Instead we got a refund that might pay our cable bill! It galls me that people who work 1/3 of the year get thousands in "refunds" and married families who work hard get the privelidge of paying for these windfalls.
It's 47% now, but once it reaches 51% then what's stopping every election from ending with the winner being those who promise more give-aways? Give-aways, by the way, that are raped from the working class.
The working class gets smaller and smaller, the government taxes those few left more and more, the taxpayer rolls continue to dwindle, while those with their hands thinking the government owes them a living continues to grow with leaps and bounds. Where will it all end? Social anarchy? Total breakdown of law and order? Civil war? This country is headed for the abyss, the years ahead are filled with trepidation.
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