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To: meyer

I’m pretty much as conservative as anybody here, and I paid no taxes in 2014-2016. But I’m not a deadbeat:

My income:
Social Security, which I paid for

Annuity, 80% of which is not taxable, since it’s my own money coming back to me

Dividend income.

Because most of the annuity is not taxable income, and because my dividend income is not very high, my Social Security is not taxable.

We are big givers, so deductions are very high. Net result is typically that deductions exceed taxable income plus exemptions. Hence, no tax.

We don’t live rich, but we just got home from eating out.


22 posted on 04/18/2017 6:40:53 PM PDT by Chaguito
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To: Chaguito; Mears

Sorry - I was thinking more in terms of the multitude of people that have been bilking the system for the better part of 3 generations. The “earned income credit” and welfare fraud crowd that games the system to avoid carrying their own weight.

I, too, plan on being in a much lower tax bracket when (if) I finally retire.


25 posted on 04/18/2017 7:43:59 PM PDT by meyer (The Constitution says what it says, and it doesn't say what it doesn't say.)
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