Who Doesn't pay any Income Tax

[geareduplyn]

I keep seeing that 50% of the country pays no income tax. How do they do that? I pay Income Tax on my Social Security checks. I have never not had to pay Income Tax.

 

[pips&peeps]

And the small amount of the wealthy (6% of the wealthiest) pay something like 40% of all taxes. The bottom 50% at the end of the scale pay around 3%....................

 

[HennyPennies2007]

Quote:
DH says the only way you have to pay tax is to be nominated to Obama's cabinet.

 

[Rusty Hills Farm]

Okay. I just did SO's taxes. He gets SS plus works a few hours a week. He has no other income. He got a refund of $124.00 because of the taxes paid in from his part time job. He did not make enough to owe any taxes so they refunded him the taxes that had been deducted by his employer. If you are paying income taxes on your SS, then it is because of the total income that you have in addition to your SS. If your only income was SS, then you do not owe any taxes on it. You only pay taxes on SS if your other income was a taxable amount above a certain level.

Hope that makes sense.

Rusty

 

[geareduplyn]

pips&peeps :

And the small amount of the wealthy (6% of the wealthiest) pay something like 40% of all taxes. The bottom 50% at the end of the scale pay around 3%....................

Guess that leaves us in the middle with the other %57.​

 

[TXmom]

My husband works, but I stay home with the kids. We pay taxes but I'll admit it's a pretty small amount. We pay taxes all year long, and then get a refund for a large percentage of it. This year we were refunded over 75% of what we paid in. And we don't have right-offs, we just take the standard deduction and child tax credits for our 2 kids.

When I used to work, I made a little less than my husband, but the amount of taxes we paid were quadrupled. My salary bumped us way up into a higher tax bracket...

After taxes, daycare, gas, etc, it just wasn't worth it for me to continue working...I practically had to pay to have a job!!!

 

[j.luetkemeyer]

After studying tax law I can say that most Americans are not liable for the tax. Check out the documentary "Freedom to Fascism". I believe you can watch it free online. You can also go to www.losthorizons.com and order a copy of "Cracking the Code". Very good information in this book. PM me for more info.

 

[HennysMom]

Quote:
Well, you got part of it right - you pay taxes on SS if its over half of your yearly amount given by SS or $12,000.00 I believe it says on the tax form and if you have any other income coming in, be it your own or someone elses (SO, wife, etc). There is a certain amount it comes out to, the form says enter the lesser amount of either line 1 (your yearly amount) or 32K...it usually ends up being the first line, then mulitply that by .85 and thats what you have to pay taxes on if you hit that bracket once you do the worksheet. We have to pay taxes on 85% of my SS due to DH's income, and it sucks...I dont have it taken out during the year because I dont get that much, but due to DH's income, we end up having to pay taxes on nearly all of my benefits, and 85% is the max.

 

[ams3651]

in a low income bracket you pay into it all year then they give it back when you file. Child support and SSI are not taxable.

 

[Rhett&SarahsMom]

I, we have never "owed" and half always gotten money back. Not sure of the % but there has always been a refund both state and fed.