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  1. #1 Analysis: 'Fair share' in taxes? Not by the number! 
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    THIS is what we've all been talking about. Many people get "refunds" without having paid taxes.:mad:

    As Americans sit down to file their federal tax returns, a simple question comes to mind -- what's a "fair share" to give the federal government in taxes?

    For half the working population, fair means paying almost no income taxes at all.

    "The top 10 percent income earners pay about 70 percent of federal income taxes," says Will McBride of the Tax Foundation. "The bottom 50 percent of tax filers have, they pay almost no federal income tax. They pay about 3 percent of federal income taxes."

    President Obama’s phrase that everyone should “pay our fair share of taxes” has become something of a political mantra. He has used the expression in dozens of speeches, beginning back in his State of Union address in January. More recently, he told University students in Virginia, "we do expect everyone to do their fair share.”

    But for many of the people who pay no taxes, the government also allows tax credits, which end up providing refunds.

    "Close to a hundred billion in checks sent out by the IRS (go) to folks who have no tax liability," McBride said. "So the IRS is becoming a spending agency."

    Arthur Brooks, head of the American Enterprise Institute, put it this way: "Half of the people who don’t pay anything in federal income taxes -- about half of them pay less than zero."

    But Brooks says the system is tilted even more toward those in the middle class and below because they also get services from the federal government. As a result the per capita value of government spending exceeds what those individuals pay in federal taxes.

    "Right now about 70 percent of Americans take more out of the tax system than they put into it, according to the Tax Foundation," Brooks said."That's something that should really alarm a lot of Americans."

    The policies that left so many people paying no income taxes have been supported by presidents of both parties, and despite what Americans tell pollsters they believe is fair, that’s not how it shakes out.

    "The interesting thing is that about two-thirds of Americans think that everybody should pay something,” Brooks said, "so they remember that our government isn't free."

    Read more: http://www.foxnews.com/politics/2012...#ixzz1n1K39RGU
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  2. #2  
    LTC Member Odysseus's Avatar
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    B-b-b-but, according to Arroyo, these are just lies put out by Fox. This can't be true, can it?
    --Odysseus
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    Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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  3. #3  
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    It would be interesting to see if there has been a demographic shift in the Earned Income Tax Credit or whatever they call the refund mechanism. It seems to me that the big tax preparer companies have been targeting the lowest wage earners lately. They also seem to be advertising a lot of "free" like free preparation and free filing. I can only assume they are making their money by taking a cut of the refund. Perhaps someone can enlighten me on that.
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    LTC Member Odysseus's Avatar
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    Quote Originally Posted by Novaheart View Post
    It would be interesting to see if there has been a demographic shift in the Earned Income Tax Credit or whatever they call the refund mechanism. It seems to me that the big tax preparer companies have been targeting the lowest wage earners lately. They also seem to be advertising a lot of "free" like free preparation and free filing. I can only assume they are making their money by taking a cut of the refund. Perhaps someone can enlighten me on that.
    That's a good point, and one that I hadn't thought of. It would make sense if they are roping in people to apply for free money and taking a cut.
    --Odysseus
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  5. #5  
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    I think the lowest wage earners have always been targeted. They make themselves targets by not learning basic economics and limiting their thought process to what is going to happen today.

    The article above referenced The Tax Foundation. I went to their website and talk about a plethora of information! Lots of publications, comments, charts; you name it.
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  6. #6  
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    I will confess to being totally stumped by AD's response

    What the HECK are you talking about? You talk about nuances in choice of words to make your case against the evidence but then do not make a case for anything else that I can discern.

    You don't really care "if the numbers they use are accurate"? Really?
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  7. #7  
    Senior Member Arroyo_Doble's Avatar
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    Quote Originally Posted by Novaheart View Post
    It would be interesting to see if there has been a demographic shift in the Earned Income Tax Credit or whatever they call the refund mechanism. It seems to me that the big tax preparer companies have been targeting the lowest wage earners lately. They also seem to be advertising a lot of "free" like free preparation and free filing. I can only assume they are making their money by taking a cut of the refund. Perhaps someone can enlighten me on that.
    RALs. Refund Anticipation Loans. They get a cut buy basically giving a loan to the individual filing the return for less than the the refund. The refund itself goes to them.
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  8. #8  
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    Quote Originally Posted by Arroyo_Doble View Post
    RALs. Refund Anticipation Loans. They get a cut buy basically giving a loan to the individual filing the return for less than the the refund. The refund itself goes to them.
    It also seems like the tax preparers drive this urgency to get your refund quickly even if you get less. There is a name for this which is no longer used in polite society, but my grandfather would have likened these people to merchants who sell bologna by the slice to a certain demographic.
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    Senior Member Arroyo_Doble's Avatar
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    Quote Originally Posted by Novaheart View Post
    It also seems like the tax preparers drive this urgency to get your refund quickly even if you get less. There is a name for this which is no longer used in polite society, but my grandfather would have likened these people to merchants who sell bologna by the slice to a certain demographic.
    I have a friend that is a think tank economist (very bright and very conservative). The last time he was in Ft Worth, we were having a general conversation and during it, he told me you can't get rich off poor people.

    I laughed.
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  10. #10  
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    Quote Originally Posted by Novaheart View Post
    It would be interesting to see if there has been a demographic shift in the Earned Income Tax Credit or whatever they call the refund mechanism. It seems to me that the big tax preparer companies have been targeting the lowest wage earners lately. They also seem to be advertising a lot of "free" like free preparation and free filing. I can only assume they are making their money by taking a cut of the refund. Perhaps someone can enlighten me on that.
    They do. They say they don't have a preparation fee but they do have filing fee which they take from the refund.
    The Obama Administration: Deny. Deflect. Blame.
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