Post
Topic
Board Economics
Re: US National Debt / Deficit - How does it end?
by
ScreamnShout
on 26/09/2014, 05:36:54 UTC
unless you are part of the 47% who pay no taxes and rely exclusively on government

This is factually wrong. While 47% of households paid no federal income tax for 2009, only 14% paid neither income nor payroll tax. Also, people pay sales taxes at the state and local levels.
If you pay no federal federal income taxes then you are receiving benefits from the federal government (national defense, food security, protections from federal regulations) but are paying nothing in return.

FICA taxes are a zero sum game because they should get a cash benefit from these taxes in the future.