You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #32: Recent article on this: [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
muriel_volestrangler Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-23-08 08:32 AM
Response to Original message
32. Recent article on this:
The actual figure of taxable units who dont pay the standard income tax a taxable unit being a couple filing jointly or a person filing is somewhere around 38 percent. Even that number is grossly exaggerated, because it excludes what people pay through the payroll tax.
...
How much does the payroll tax amount to? Well, last year the standard income tax brought in $1.17 trillion, while the payroll tax brought in $873.4 billion.
...
Last year alone, $190 billion in payroll tax receipts was diverted to general fund use, paying for everything from Iraq to the salaries of park rangers.

As of 2007, a total of $2.25 trillion of payroll tax money paid into the Social Security and Medicare trust funds had been diverted to general fund use and replaced with government IOUs. In effect, the trust funds are an illusion. Payroll taxes and income taxes go into the same pool of money and are withdrawn from that same pool of money to fund government.

And for that reason, the claim that 50 percent, or even 38 percent, of Americans pay no income tax is flat out wrong.

http://www.ajc.com/blogs/content/shared-blogs/ajc/bookm...
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC