[LostInBayport]

As for those Americans who pay no federal income tax, most of them still pay Social Security and Medicare payroll taxes that can take a significant share of their income, Democrats said.

And how many of them get that annual kiss in the mail known as the Earned Income Tax Credit? I bet it is break even for many.

This April was very, very unpleasant for me. I'm going to finish paying off my debts and go Galt!

[justlurking]

And how many of them get that annual kiss in the mail known as the Earned Income Tax Credit? I bet it is break even for many.

It's not quite break even, but close. I found this graph that plots the average TOTAL federal income tax rate. It includes all of them: FICA, Medicare, corporate, excise:

If you just look at federal individual income taxes, then there is indeed a negative rate:

[griswold3]

This April was very, very unpleasant for me. I’m going to finish paying off my debts and go Galt!

You too, huh?
As a small business owner, I am finding many ways to ‘create value’ in my own personal life. After all these years of devotion to my business it’s difficult (but not impossible) to ease up. I may even take a vacation this summer. I’ve never had one of those.
Wealth isn’t only measured by the size of a bank account.