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It is important to note that the 47% do not pay Federal Income tax.
They still pay pay any applicable city or state income taxes!
They still pay the 7.65% combined Social security and Medicare taxes!
They still pay real estate taxes, directly or via their rent payments in all localities that have real-estate taxes, which is probably everywhere in the U.S.!
They still pay sales taxes on their retail purchases, which is proportionally higher for lower income people than it is for higher income people, since they spend a higher percentage of their income at retail!
If one ignores the charitable giving of the wealthy, then some of the 47% actually contribute more financially to society than some of the wealthy do!
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What percentage of US Taxes do corporations pay?
15
What are the working conditions like in sweatshops?
there very poor and dangerous. Sweatshop workers often work long hours for very low pay, regardless of laws mandating overtime pay or a minimum wage.
Do most Cities allow homebased candle making businesses?
absolutely, there's no problem at all, as long as you pay your taxes...
What percentage of black people pay income tax?
hard to say, but African Americans work just as much as white Americans. most of the people who don't pay income tax are the elderly, only 15% of the 47% of the country that don't pay them are low income.
How much tax did Roman citizens pay at the time of Jesus?
At the time of Jesus, the Romans paid taxes according to their salaries and wages. Jesus once asked them to give Caesar what belongs to Caesar and Jesus what belongs to Jesus.
Who pays taxes?
50 % of wage earners pay no taxes!!
Who pays no taxes?
50 % of wage earners pay no taxes!!
Do immigrants pay the same amount of taxes as Americans?
Taxes on income earned in the US is the same for all wage earners.
What percentage of the US population pays the most taxes?
The top 5% of earners pay 93% of all taxes
What tax do wage earners have to pay federal government?
5000$
What tax do wage earners pay to the federal government in Australia?
Between 26 and 48% of their wage.
What do the top 1 percent of Americans really end up paying the IRS?
The top 1% of wage earners (those earning over $388,806 a year and who make about 18% of income in the country) pay 39.89% of all federal income taxes. When it comes to total federal taxes (not just income tax), the top 1% paid 28% of taxes.86.27% of federal income taxes are paid by the top 25% of wage earners (those making over $64,702). The bottom 50% of wage earners in the country actually have a negative tax rate due to the payouts from the government being more than they pay in taxes.http://www.ntu.org/main/page.php?PageID=6http://cbo.gov/ftpdocs/88xx/doc8885/EffectiveTaxRates.shtml
Do federal judges pay income taxes?
Yes, they pay income taxes, as does every other wage earner in the United States.
Does an independent contractor pays selfl-employment taxes instead of FICA taxes?
That is correct, exept that the employer pays a portion of your FICA, whereas when you are Self-employed you are hit with the full amount. Of course you have the advantages of being able to deduct all of your business expenses. More information below from IRS.gov " Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. It is similar to the social security and Medicare taxes withheld from the pay of most wage earners. You figure SE tax yourself using Schedule SE (Form 1040). Social security and Medicare taxes of most wage earners are figured by their employers. Also you can deduct half of your SE tax in figuring your adjusted gross income. Wage earners cannot deduct social security and Medicare taxes." Hope this helps. Roger Hadad, Effectur Inc, www.irs101.blogspot.com
What is the percentage of pay for workmens Compensation. Is this amount based on pay before or after taxes?
About 80% before taxes.
How does finding a job deal with the economy?
If you do not work and make no wage you pay no taxes.
Who pay most taxes rich or poor?
I'm afraid that you may not get the answer that you want with this question. The top 5% of earners in the United States pay over 95% of the taxes. The U.S. has a progressive tax rate system meaning that the more income you earn the higher your tax rate on your earnings will be and therefore, the more taxes you will pay. It all depends on what you call poor people but basically poor people pay no taxes in the United States as far as income tax goes. Our system is set up to redistribute wealth which means we tax higher earners and distribute the money to the lower income earners in the form of money and services.
