mham001 wrote:compensateme wrote:mham001 wrote:Brilliant.
How many public transpiration, public schools, those on long term disability, health care, disadvantaged seniors, or college students with debt pay taxes in the first place?
Uh, many people on LTD, many disadvantaged seniors and many college students pay federal and (if applicable) state taxes.
I take it you've never actually filed? You have to make money to pay federal and state income taxes. You don't pay any federal or state income tax until you reach certain levels of income. If you don't reach those levels, you can often even get extra money back. "college students with debt" pay ZERO taxes. LTD depends on the source of the income,
The notion that public transportation and public schools should get a "tax break" is hilarious.
You’re wrong. CPA / MST here, I’m not somebody repeating Fox News talking points.
For example...Any college student who earned above the standard deduction + elgible education credits (if applicable) will pay taxes. Debt has nothing to do with anything, as student loans repayments are deferred while in college (student loan interest becomes an above line deduction after repayment, but this is minimal). Most college students work a PT job and will pay some tax... and some - especially co-op and business students pursing an internship, as well as most graduate stidenrs - will pay a lot more. And I know from personal experience...my senior year I did a co-op and had nearly $60k in taxable income. Oh, to not pay taxes would’ve been nice.