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Thousands who earn $200,000+ avoid income tax

Discussion in 'Political Discussion' started by Holy Diver, Jun 12, 2008.

  1. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    http://www.usatoday.com/money/perfi/taxes/2008-06-11-taxes_N.htm?loc=interstitialskip

    By Kevin McCoy, USA TODAY
    Death is inevitable, but federal income taxes aren't for an increased number of high-income earners.
    New IRS statistics show 7,389 federal tax returns with $200,000 or more in adjusted gross income reported no federal income taxes in 2005. That's a 161% jump from the 2,833 comparable returns filed in 2004.

    Additionally, 4,224 of the over-$200,000 earners reported no worldwide income tax liability on their 2005 returns, the IRS data show. That represents a 75% increase from the 2,420 comparable returns filed in 2004.

    The data are the most recent available from the IRS. It shows a rising number of high-income earners have avoided the alternative minimum tax, which was intended to ensure that tax shelters, deductions and loopholes wouldn't exempt wealthy Americans from paying at least some federal income tax.

    "It's an interesting case study on how people find ways to avoid paying taxes," said Howard Gleckman, a senior research associate and tax blog editor at The Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution.
     
  2. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Another good argument for the no-loophole, no deduction flat tax or sales tax, don't you think?
     
  3. Wildo7

    Wildo7 Totally Full of It

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    Can't we figure out a way to blame this on brown people?
     
  4. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey


    I couldn't agree with you more. Taxes should be a simple precentage of your income. We should all pay the same percentage, no matter what.

    fair is fair.

    I want to drop kick each of these 6 figure criminals. If you are one of these people, you and I need to have a face to foot.
     
    Last edited: Jun 12, 2008
  5. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I'd be curious about "Gross Income" vs. "Income Tax" and if capital gains and dividends could as Grosss Income but capital gains and dividends tax doesn't count as Income Tax.
     
  6. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    The more income you have, the more incentive (and resources) you have in finding a way to avoid paying taxes on that income.

    Yet, another, prime example for the Fair Tax.
     
  7. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    common ground, could not agree more.

    Then eliminate that rat bastard agency the IRS... btw could never figure out why alimony was tax deductable, but child support was not.. used to call those bastards every year and no one would give me an answer.. now this.. wonder what will happen to Rush's chart on his home page???
     
    Last edited: Jun 12, 2008
  8. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    This is...3 times in week, GJAJ. I don't know about you...but I'm starting to get scared.

    Must be that I'm rubbing off on you, huh?
    :D
     
  9. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Au contraire, we have more in common that you think.. personally both of us are pretty reasonable, even though I am more reasonable than you are.
     
  10. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    LMAO! You win.
    :D
     
  11. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    IF we can get the 16th Amendment repealed I am fine with an NRST. In the abscense of the repeal of the 16th I have always favored the Forbes Flat Tax, 17% with a 13k persoanl exemption (same for children and adults) indexed for inflation and NO exemptions.

    This takes the lobbyist out of the mix of getting tax breaks. Eliminate the business tax tax dividends and cap gains like any other income.

    This will make America more attractive and our exports more competitive. Taxes paid by business are just passed along to consumers anyway.
     
  12. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    they would find ways for more taxes... unless you're rich.

    $200k isn't that rich.

    low middle class actually... if you equal inflation and stuff.
     

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