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Do you think think that taxes are a primary source of stress for most Americans? Remember, the US is now passed the threshold where 51% of people get more back
by KirinDave 8y ago
Do you think think that taxes are a primary source of stress for most Americans? Remember, the US is now passed the threshold where 51% of people get more back from the government than they pay in taxes. For around half of Americans, they have an easier month when their taxes filings are processed.
The way that lowering taxes might help is in ending the massive subsidies the government hands out to various businesses to try and bolster this negative feedback cycle. While I am a strong proponent of a social contract and socialized health care, they are potentially enabling poor working conditions by having the populace pay for the care required as a result of those conditions.
- skh 8y agoDoes your 51% stat include sales taxes, gas taxes, phone taxes, electricity taxes, etc? I believe you are talking about federal income tax and not including other forms of taxation. Is this correct? People getting money back from tax filings is an indication of too much tax being taken out of their paychecks. Isn’t it? People pay taxes throughout the year. Once a year, for most people, they formally file their taxes and some get money back.
- KirinDave 8y agoThis includes income and all sales. It is not the exact case in every state, it's an average. "Rebates" can exceed your total tax obligations.
- skh 8y agoDo you have a source on this? I find it hard to believe that 51% of all taxpayers receive a net rebate when taking into account all forms of taxation. If you can’t find one no problem. I’ve heard something similar to this but it was applied solely to federal income taxes.