So I really pay no income tax?

Don't just stand there. Get the fuck out of the way. Move!

 

I said this about smallpotatoes like half a decade ago.

He's actually toned down his act.

 

47% don't pay federal income taxes. Is it that hard to figure out?

 

If your goal is, for the year 2009, to calculate who received a net credit from the Federal government and who paid taxes then you have to include benefits received if your are going to include the taxes -- to be fair.

For example, say an unretired person paid zero Federal income taxes (part of the 47%) but paid Social Security taxes. The author of that article counts that person as a taxpayer. Fair enough, but the reverse has to count. Say a retired person paid income taxes (maybe on their IRA distributions) but received Social Security benefits greater than their tax liability. By fair accounting, they should not be counted as a taxpayer, they received more money from the government then they paid. However, the author counts both those people as taxpayers, which is double dipping since he doesn't include the social security payment in his calculations. For the retired person he treats their lifetime of prior Social Security "taxes" as if they are contributions to a pension plan but for the still working person he counts them as a payroll tax.

 

I've often felt the same way about 93Devil.

 

I always give the interest-free loan. I dont have the discipline to set aside money to gather interest to pay my taxes with

 

I usually do too, dools. I figure my piddling little $600-$700 won't help the government that much, but it sure helps me in March of each year.

 

Please keep that avatar. Forever.

 

who hasn't

 

Here's the part that puzzles the sh*t out of me. You say that, then the story says this:

The 47 percent number is not wrong. The stimulus programs of the last two years (snip) have increased the number of households that receive enough of a tax credit to wipe out their federal income tax liability.

It appears it's only a myth if you incorrectly frame the issue being discussed as pertaining to all taxes, not just federal income taxes.

 

Some people really need to take financial literacy classes. There is a box on the tax form that shows you how much tax you are liable for and how much you paid already.