By: Vulture (cross-posted from The Vulture Lurks)
April 15, 2011
The following is re-posted from April 15, 2010. It is every bit as relevant now as it was then.
Most of those pulling the wagon were jackasses.
What prompted this little parable? This.
Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it’s simply somebody else’s problem.
About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That’s according to projections by the Tax Policy Center, a Washington research organization.
Wait, it gets better.
The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment.
“We have 50 percent of people who are getting something for nothing,” said Curtis Dubay, senior tax policy analyst at the Heritage Foundation.
Feel like a jackass yet? If you don’t, you’re probably part of the problem.