HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
Because they don't earn enough money.
40% of those people are retirees who don't have enough income to pay tax.
Most of the rest are in work, but not making enough to pay income taxes (people in low-income careers, but also people like students working part-time who'll presumably have greater income-earning opportunities in the future), or who do but also collect tax credits such as the Earned Income Credit or the Tax Child Credit, which offset the income tax they do pay.
So it's not as though these 44% are a bunch of moochers ripping off the system.
It's more that income and wealth are concentrated, so of course those people who earn and own more are the ones paying taxes. And then the burden falls harder on income than it does on wealth - well-paid doctors, lawyers, engineers, entertainers, etc pay a lot of tax, but people who own a lot - eg investors, property owners - don't pay as much (eg capital gains tax rates are lower than income tax rates, and they become due only on sale of the asset).
Really, you want to increase the # of people who earn enough to pay federal income tax (so the system isn't reliant on only 56% of people), increase the share of taxes due from wealth (because why should productive activity like work be taxed more heavily than passive investment?), and ensure that the benefits of any tax reductions (because with more income earners + more tax from owners/investors, you'd be able to offer lower tax rates) get spread around rather than centred on the highest earning/wealthiest people.
just finished taxes. total owed between fed and state: $586 OUCH {nm} Apr 15, 07:01
between that and the miniscule extra i got weekly, it was a wash {nm} Apr 15, 07:02
Had to pay for the first time in many many years ($3000)...ouch {nm} Apr 15, 09:01
what's the expression?...moving furniture around? {nm} Apr 15, 09:56
"Rearranging the deck chairs on the Titanic." {nm} Apr 15, 12:58
that sweet $1.50 a week Apr 15, 13:45
I paid less but I had to go to an accountant to figure out where to deduct my work expenses and I moved to a state Apr 15, 13:54
Sounds like Texas, Florida, or Nevada. {nm} Apr 15, 20:02
stars at night... {nm} Apr 15, 20:25
So you were in the 29% break even and not in the majority. Sucks to be you. {nm} Apr 15, 20:01
on average, Jamie Dimon and I are saving a couple billion a year between the two of us. score! {nm} Apr 15, 22:41
44% pay no federal income taxes at all {nm} Apr 16, 07:36
Because they don't earn enough money. Apr 16, 11:03
I get it, I wasn't making any point about "mooching", just that if you don't pay any taxes, you can't get a lower Apr 16, 14:02
How do you feel about the largest corporations in the USA not paying any tax at all? Zip. Zero. Zilch. {nm} Apr 16, 17:17
Wages are based on supply and demand. If there is a line of people that can and want to do what you do, wages Apr 17, 12:09
"only 32% of Americans are saving for retirement in a 401(k)" (and that includes miniscule amounts too) Apr 17, 13:24
Only 21% have no retirement savings. Your sources must be the propaganda rags. Apr 17, 20:39
Not on CEO salaries. corporate taxes are yet another scam to convince people someone else is paying. {nm} Apr 17, 12:10
Nah, there are a bunch of good reasons for corporate taxes, you're just choosing to ignore them. {nm} Apr 17, 17:07
Examples? {nm} Apr 18, 07:02
"If there weren't, every individual who could would corporatise themselves for tax minimization purposes." Apr 18, 09:35
