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Response to KurtNYC (Reply #11)

Fri Apr 13, 2012, 07:32 AM

21. Your claim that the entire bottom 40% of filers don't pay income tax is false. Same for the claim

 

that non-payers are exclusively from the bottom.


For tax year 2010, roughly 45% of households, or about 69 million, will end up owing nothing in federal income tax, according to estimates by the nonpartisan Tax Policy Center. Some in that group will even end up getting paid money from the federal government.

Contrary to what many assume, membership in the group isn't restricted to the poor.

It's true that the vast majority of the 69 million households make less than $50,000 -- with very heavy representation among households making less than $30,000.

But nearly 5 million households in the group make somewhere between $50,000 and more than $1 million. The vast majority of that group -- 4.3 million -- make between $50,000 and $100,000. Another 485,000 make between $100,000 and $500,000. And the remaining 18,000 make $500,000 or more

Other data from the IRS show that the tax bite on the very highest income taxpayers has fallen as their incomes have risen. In 2007, the top 400 individual tax returns had an average adjusted gross income of $345 million, up from $47 million in 1992. But their average tax rate was just 17%, down from 26% in 1992.

http://money.cnn.com/2011/04/14/pf/taxes/who_pays_income_taxes/index.htm


There is no bracket in which people on average pay nothing.

http://www.irs.gov/taxstats/indtaxstats/article/0,,id=96981,00.html#_grp1



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WillParkinson Apr 2012 OP
dkf Apr 2012 #1
sulphurdunn Apr 2012 #2
dkf Apr 2012 #10
sulphurdunn Apr 2012 #17
dkf Apr 2012 #19
sulphurdunn Apr 2012 #34
HiPointDem Apr 2012 #24
SammyWinstonJack Apr 2012 #46
Taitertots Apr 2012 #27
NNN0LHI Apr 2012 #14
nxylas Apr 2012 #3
ProfessorGAC Apr 2012 #26
nxylas Apr 2012 #28
leftofcool Apr 2012 #4
Kolesar Apr 2012 #5
KurtNYC Apr 2012 #6
PA Democrat Apr 2012 #7
KurtNYC Apr 2012 #11
PA Democrat Apr 2012 #12
PA Democrat Apr 2012 #18
KurtNYC Apr 2012 #29
PA Democrat Apr 2012 #32
KurtNYC Apr 2012 #33
PA Democrat Apr 2012 #37
KurtNYC Apr 2012 #40
PA Democrat Apr 2012 #43
LineLineLineLineReply Your claim that the entire bottom 40% of filers don't pay income tax is false. Same for the claim
HiPointDem Apr 2012 #21
PA Democrat Apr 2012 #25
KurtNYC Apr 2012 #30
HiPointDem Apr 2012 #35
KurtNYC Apr 2012 #38
HiPointDem Apr 2012 #45
HiPointDem Apr 2012 #23
KurtNYC Apr 2012 #31
HiPointDem Apr 2012 #36
KurtNYC Apr 2012 #39
PA Democrat Apr 2012 #42
HiPointDem Apr 2012 #44
SATIRical Apr 2012 #15
PA Democrat Apr 2012 #16
dkf Apr 2012 #20
PA Democrat Apr 2012 #22
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izquierdista Apr 2012 #9
ctaylors6 Apr 2012 #13
KurtNYC Apr 2012 #41
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