At what income level should you pay taxes?

Because it seems to me anyone who makes 50k a year or less doesn't pay any income taxes at all. I've read some really whacko ideas on here before. Stuff like no one under 100k a year should have to pay income taxes, stuff like that. People don't really believe that do they?

 

You're a magician. Surely you can figure out how to be tax-free.

GE has.

 

Don't we already have a government that ensures people making under 50K or so a year don't have to pay taxes? The fact that the top 5% of money earners are already paying about 90% of our nation's taxes makes a mockery out of our tax system and also makes a mockery out of the liberal mantra that tax cuts only benefit the rich. How can tax cuts ever hurt low income earners who don't pay taxes in the first place?

 

Don't we already have a government that ensures people making under 50K or so a year don't have to pay taxes? The fact that the top 5% of money earners are already paying about 90% of our nation's taxes makes a mockery out of our tax system and also makes a mockery out of the liberal mantra that tax cuts only benefit the rich. How can tax cuts ever hurt low income earners who don't pay taxes in the first place? I would be pulling my hair out if this wasn't so ridiculous; but as you can see, there isn't any hair left to pull.

 

Because it lowers the government's revenue.

 

Maybe we as a society shouldn't be so dependent on how much revenue the Government brings in?

 

Regardless of how much a person makes they still pay taxes...some just don't pay Federal Income Taxes.

 

For the matter of this discussion, Income taxes are the only ones that count.

 

Oh I see what you're saying. Less govt revenue means that the welfare leeches might have to get up off their lazy arses and actually go to work for a change, since their weekly paycheck will have been dissolved.

 

Not true. If I have zero income and am totally supported by someone else, oh, the taxpayers for example, then I pay no tax. Nada. Zip. The other scam is that income doesn't mean the money you take in. It only means certain money you take in.

I don't think legitimately poor people should pay income tax but everyone of an age to vote or earning income, absolutely everyone, should have to file an income tax return. I think it's part of the joy of being an American to deal with the IRS every year. I think everyone should understand the anger at a President who says, on April 15th, that people paying income tax should be thanking him.

Every year, the President, every person working in Washington, and everyone on welfare, should be thanking the taxpayers. And if one more snooty liberal, like VP Biden, brags the it's a voluntary tax I'll puke.

 

People making 50k certainly do pay income taxes. Not sure where this myth came from that they don't.

 

I'm ok with a 10% tax on those earning over a trillion.

 

if you make 50,000 a year you deduct you personal deductions or your itemized deductions and that is taxed..when they say that a large amount of people dont pay any taxes is just media and political spin because they are counting all people young kids and housewives who stay at home to raise the children..not just the working people...

 

The way to close the pay gap between those who do not pay tax and those who earn millions a year, most of which is unjustified, is to pick a figure, say $5m per year and impose a Federal tax of 110% on all those earning above it.

That's the way to help right a broken economy.

 

Tax everyone with taxable income. Even if under $50,000 income earners only pay 2%. They need to feel the obligation all other tax payers have.

 

Since liberals love taxes, I think they should pay twice as much. Let's see how they love that.

 

Would that include your leeching on their paying of it?

 

I think it should have something to do with the poverty level. Like no one should be taxed to within a certain amount from the poverty level.

 

Everybody pays taxes. Somebody who is right at the poverty line actually pays a higher percentage of their income in taxes than somebody who is making $1m/year. Income taxes are indeed progressive, but every other tax is regressive- property, sales, FICA, unemployment, disability, vehicle taxes, etc. Capital gains taxes are basically regressive because the rate is much lower than the taxes on wages and it is the source of income the wealthiest people rely on.

 

Is there an adult there to help you? Your post makes no sense.

 

To you it doesn't. Why am I not surprised.

 

Basically to stop highly productive people from working. That sounds like it will help the economy.

 

They won't stop working. Neither will they emigrate. The world cannot afford them these days.

And the CEO's at the top are not highly productive. Unless you consider highly productive as looking for ways to downsize for the benefit of stockholders and their own pockets and adding to the unemployment problem.

You could well do without Wall Street sharks. Look what their high productivity did to the US economy, yet they are all still there and paying themselves more than before.

 

that's news to me

 

That's just silly. No one would work at a 110% tax rate.