Posted on 10/25/2018 7:22:08 AM PDT by gattaca
More than half of Americans receive more money in various types of government transfer payments (Medicare, Medicaid, food stamps, Social Security) than they pay in federal taxes.1
According to a report released this year by the Congressional Budget Office, only the top two income quintiles in the United States pay more in taxes than they receive in government transfers.
Not surprisingly, the lowest income quintiles receive far more in transfers than they pay in taxes:
(Excerpt) Read more at mises.org ...
The recent lottery win of $ gigabucks is the visible surface of the concealed tax iceberg.
The lottery is in effect a voluntary tax that is acceptable mostly to those that pay little other tax but are induced by greed to fork over some cash
When Romney ran for POTUS? Then, it was 47%.
‘government transfer payments’
I seem to remember when I had paychecks that Medicare & Social Security were taken out of said paycheck without my consent.
Anyone else remember that?
80% of Americans pay more in payroll taxes than they do income taxes.
Kind of amazing Republicans can win at all given those stats.
Transfer payments are included in income data?!
Ruh roh....
ML/NJ
If they would allow people to keep their earnings, there wouldn’t need to be a social security. But it’s not about security in old age - it’s about reducing “inequalities.”
The MSM response to this is “Jared Kuschner paid no income tax....”
https://www.nytimes.com/2018/10/13/business/jared-kushner-taxes.html
Targeting Social Security recipients in the same sentence as Welfare recipients is just plain wrong.
WE paid into the Social Security system from our very first paychecks. Many of us started working at age 16, when it was legal.
Working & paying social Security taxes for over 50 years & then retiring & getting a soc sec check isn’t welfare.
This author owes millions of Social Security recipients a sincere apology.
“””Over Half Of America Gets More In Welfare...
More than half of Americans receive more money in various types of government transfer payments (Medicare, Medicaid, food stamps, Social Security) than they pay in federal taxes.”””
Bad Headline.
Medicare and Social Security are not welfare. For the most part the Medicare and Social Security recipients paid far more into Medicare and Social Security than they will ever receive from those programs.
Targeting Social Security recipients in the same sentence as Welfare recipients is just plain wrong.
WE paid into the Social Security system from our very first paychecks. Many of us started working at age 16, when it was legal.
—
Agree 100%
They need to rerun their numbers. I’d still like to know the amount of people receiving actual welfare, minus this false/bs SS inclusion.
Medicare is not welfare. I paid over 48K into it for 50 years. Had I invested that amount, that amount would be enormous by now.
Dumb response. First, almost 50% of the wage earners pay no income tax. Second, the payroll tax is higher than the income tax for many workers because it is done on gross income before any deductions. Finally the cap on earnings on SS taxes rises on an annual basis. There is no cap on earnings for the healthcare portion of payroll taxes.
The payroll tax is the most regressive of all. Yet no politician wants to touch it. SS has been running in the red since 2010 and Medicare since 2008.
Huh? So everyone that buys a lottery ticket is just a dumbf$&k ?
So half of all the people I see are leeches sucking the life out of me. I thought so. It feels like more.
I paid in from the time I was 13. It is on my statement from ss.
-—So everyone that buys a lottery ticket is just a dumbf$&k ?——
Well, at the very least, a tax payer
I saw on the news this week that Queen Elizabeth (the first, circa 1588) was the first to institute a government lottery to raise money to pay war debts.
So, they’ve ( the money grubbing politicos) been at it a long time.
Yep - an collecting SS and paying for Medicare today....about the only upsides of getting old is that we’re still kicking and the programs we paid for might stay solvent until we kick off...
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