Nothing new.This has to be unsustainable. Over half the households paid no income tax.
57% of U.S. households paid no federal income tax last year as Covid took a toll, study says
More than half of Americans paid no federal income tax last year due to Covid-relief funds, tax credits and stimulus, according to a new report.www.cnbc.com
Thank you for that correction.
www.pewresearch.org
When we did it you had to write your senator for permission to tour the White House.
Those taxes are not income taxes. The article is on income taxes. I guess I should have clarified in the thread title that it’s income taxes, but I figure people read the articles attached.Thank you for that correction.
But most of the income producers still paid the other taxes such as social security tax. Furthermore, a lot of people retired early due to the pandemic.
Now add in the deductions people take like the mortgage interest deduction. The original rate of households not owing income tax before the pandemic was 44%
Retired people don’t generally pay income tax. 27% of adults or households are retirees.
About 50% of all adults above the age of 55 are retired.Economic Well-Being of U.S. Households in 2020 - May 2021 - Retirement
The Federal Reserve Board of Governors in Washington DC.www.federalreserve.gov
Amid the pandemic, a rising share of older U.S. adults are now retired
As of the third quarter of 2021, 50.3% of U.S. adults 55 and older said they were out of the labor force due to retirement.
I did get it. I am pointing out that they didn’t owe income taxes but many paid other taxes. They aren’t the dead beats one might think.
We are SLAVES
I guess that is a little bright spot, but those that aren’t paying are generally the ones complaining about big business not paying their fair share while they take advantage of similar deductions.
The vast majority of government services we enjoy are provided for by local taxes.
With the exception of social security and the protective umbrella of protection provided by our military, you are right. The money for the interstate highway dollars , FDA, military, CDC, and a few other necessary behind the scenes agencies, we could pay for them with less than half of what the federal government spends.
Must be a glitch
He thinks he's a share holder.
I've been on the black ones.
Funny a grant has to be income. I thought grants didn’t need to be paid back? What a joke.
