47% Will Pay No Federal Income Tax

[firstdown]

Nearly 22% of those making between $50,000 and $75,000 end up with no federal income tax liability or negative liability as do 9% of households with incomes between $75,000 and $100,000.

Now could someone explain to me how they can have this income and pay nothing and maybe receive a tax credit?

[tryfuhl]

Originally Posted by firstdown

Nearly 22% of those making between $50,000 and $75,000 end up with no federal income tax liability or negative liability as do 9% of households with incomes between $75,000 and $100,000.

Now could someone explain to me how they can have this income and pay nothing and maybe receive a tax credit?

Bush sent me 600 dollars!

[joethiesmanfan]

Originally Posted by tryfuhl

Bush sent me 600 dollars!

I feel you, how is that?
They taking almost half my money. I dont' have kids except one and his mama get to claim him. We have no child support agreement, don't need a judge to tell me to provide for my son. I'm screwed. I get no breaks. I get pulled over alot though.

[saden1]

Originally Posted by firstdown

Nearly 22% of those making between $50,000 and $75,000 end up with no federal income tax liability or negative liability as do 9% of households with incomes between $75,000 and $100,000.

Now could someone explain to me how they can have this income and pay nothing and maybe receive a tax credit?

That's real easy...it's all about children, the more you have the more breaks you get. Having 4 kids, some of which are going to college, a mortgage interest payment of 25K, and 401K investment account will do the trick.