The Stack Overflow podcast is back! Listen to an interview with our new CEO.

Hot answers tagged

164

When Bernie Sanders claimed Amazon didn't pay federal income taxes in 2017, Snopes wrote a helpful article: In regards to U.S. federal income taxes, the claim that Amazon paid none in 2017 is almost certainly factual. While Amazon’s tax filings are not public, their SEC filing for the year 2017 illustrates that the company used the tax code expertly (and ...


151

The IRS has a section of their website, The Truth About Frivolous Tax Arguments dedicated to explaining the flaws of popular incorrect arguments of why taxes don't have to be paid. Specifically, it says: The requirement to pay taxes is not voluntary. Section 1 of the Internal Revenue Code clearly imposes a tax on the taxable income of individuals, ...


127

The infographic is false. Shell does not receive $2 Billion in subsidies a year. They do receive tax breaks, but not for "no real reason". The $2 Billion claim in the infographic seems to be either a misrepresentation or a misreading of values found on some websites online. An approximate value of $2 Billion for Royal Dutch Shell has been presented on ...


107

No As per the statistics that @gerrit cited, the statement as listed is untrue. There are almost as many firefighters alone as tax preparers. There is a true way of stating it. If we explicitly limit to just full time paid fire fighters and law enforcement professionals, then there are more tax preparers. However, this is a fundamentally unfair way of ...


100

Summary: The graphic is based on an article from the Council for Secular Humanism which is almost entirely incorrect It seems to be the case that the infographic is based on the report "How Secular Humanists (and Everyone Else) Subsidize Religion in the United States"., by the Council for Secular Humanism. The figures seem to agree, so it's reasonable to ...


93

No, the IRS cannot garnish 100% of your income. Before I begin, obviously, IANAL. Some of my sources will come from law advice websites that also have that disclaimer. There is a process that the IRS will follow before any garnishment of wages will take place. According to Nolo, in an article titled "Can the IRS garnish my wages for taxes?", they explain ...


85

The Value Added Tax in the United Kingdom is based upon the standard rate of 20% as of 4 January 2011. This means that unless something falls into a listed category for a reduced rate or an exemption, then the VAT is 20%. Based upon a review of the United Kingdom's HM Revenue & Customs listings for VAT rates on different goods and services this claim ...


64

Not true for "taxes", not even true for "income tax" alone. According to the official government statistics for the year 2014 –– and include those a bit more who are not really considered "rich earners" with "just" making over 125.000 EUR –– we arrive at: the top 3% of earners were paying 20.3% of overall revenues from income tax in 2014. From 250.000 ...


59

No it is not true. The Sixteenth Amendment was adopted in 1913, so taxes not apportioned to states are constitutional. US Code 26 Subtitle A is the relevant law. The quoted text seems to allude to a number of arguments that income tax does not need to be paid. The IRS has a page refuting frivolous tax arguments, and anyone contemplating trying to claim that ...


57

This appears to be a myth manufactured by S. N. Sadasivan from oral history. He wrote: The breast tax was levied as soon as a woman of the Ezhavas and castes below, attained puberty and more attractive the breasts were, the more the tax she had to pay. No citation is given. The Quora user reports he cannot find a tax where the "more attractive the ...


49

The top 20% of income earners pay 50% of Einkommensteuer&Lohnsteuer (income tax), which in turn accounts for 33% of total tax income for the state. (Lohn and Einkommen are separate here, because Lohn references income from paid employ, while Einkommen can be any monies you get apart from paid employ) People with more than 37 500 € per year paid 80% of ...


40

According to the IRS itself (2008): The Code has grown so long that it has become challenging even to figure out how long it is. A search of the Code conducted in the course of preparing this report turned up 3.7 million words This is more than 10,000 pages, because about 250-300 words per page is standard. So, no it is not only 2,600 pages. ...


35

The short answer to the question is: It's not true. Please let me state beforehand that my answer doesn't try to prove that Greeks in general do not try to avoid paying taxes. Although being a Greek myself, my opinion is that they do so in every possible way and this is for me an undeniable fact. But in this particular case with property taxation though, ...


35

Yes, it's pretty much true if by taxes you mean federal Income Tax. Both in case of 20% paying 80% of taxes, and bottom 40% paying insignificant amount of taxes. Data from 2009: Top 1% (income above $343,927) paid 36.73% Top 5% (income above $154,643) paid 58.66% Top 10% (income above $112,124) paid 70.47% Top 25% (income above $66,193) paid 87.30% Top 50%...


35

It is legally incontrovertible that the 16th Amendment was properly ratified. This matter was the subject of a court case, United States v. Thomas, eventually heard before the Seventh Circuit Court of Appeals. It found against Benson, and for the validity of the Sixteenth amendment: Thomas insists that because the states did not approve exactly the same ...


33

The number in your claim appears to come from a 2014 report by a "subsidy tracking group" called Good Jobs First, quoted in an article in "cheatsheet.com" about corporate welfare recipients. They said: Shell received $2.04 billion across 79 subsidies But they did not say "per year". It seems to be a total. Something crucial to keep in mind when you ...


32

True, almost true, or false, depending on sources and interpretation. Depending on sources, the number of professional firefighters + law enforcement officers is either the same or slightly smaller than the number of professional tax preparers. However, if we include part-time or amateur firefighters, the claim is false. From Face the Facts USA, A ...


31

In her essay "Pomperipossa i Monismanien", Astrid Lindgren writes about a marginal tax rate of 102%. She does not claim an effective tax rate >100%, but gets quite close (99.75%) as she describes how only 5,000 kroner are left from a 2,000,000 income. The relevant part of the essay roughly translated: From the first 150,000, you can keep 42,000. The rest, ...


31

The IRS is a U.S. Government agency. Its website says: The IRS is a bureau of the Department of the Treasury ... Statutory Authority The IRS is organized to carry out the responsibilities of the secretary of the Treasury under section 7801 of the Internal Revenue Code. The secretary has full authority to administer and enforce the internal ...


30

tl;dr: it is impossible to know for sure if it will cost President Trump "a fortune" since he has not released his tax returns, but it is very unlikely that he will come out behind under either the House or Senate tax plans, and much more likely that both he and his company will come out ahead. The few areas where President Trump stands to have to pay more ...


29

No, it's not true. There is ample case law where the constitutionality of income taxes has been tested, and the courts have clearly ruled that income taxes are constitutional. Such claims are regarded as frivolous and subject to legal penalties. The IRS has a publication which clearly spells out the significant penalties for pursuing or promoting ...


26

The claim is false. Specifically, this official reference says of safety razor blades: Goods are subject to VAT standard rate. VAT rates are set out here. I expect the 'grain of truth' is that some aspects of health are VAT exempt (see boxes marked health and healthcare above), for instance dispensed prescriptions and incontinence pads. I expect the ...


25

Hughes Aircraft Company received the refund. A first hand account is given by Bruce Leeds in his article What the Heck is Drawback and How Do I Use It? Early in my career I took a position as Import Manager at Hughes Aircraft Company, an aerospace company in California. Hughes had imported a small natural diamond window (the size of a penny), from the ...


22

Let me take a different tack on this. The statement as presented, There is no law which requires the average American worker (in the private sector) to pay a direct unapportioned tax on their labor and compensation, or services. is exactly (in a larger sense) correct, but this larger sense does not help the speaker. The 16th amendment specifically ...


19

It's nebulous. Total student loan debt is estimated at around $1.5 trillion Forbes, while NerdWallet places the total federal student loan debt at $1.4 trillion (and puts the total at $1.6 trillion). POLITICO estimates that the tax cuts will cost about $2.3 trillion over ten years, assuming that the cuts run that long. The additional revenue generated by ...


18

Tax stats are available here: http://www.irs.gov/taxstats/indtaxstats/article/0,,id=134951,00.html#_pt2 I downloaded 2009 data: http://www.irs.gov/pub/irs-soi/09in21id.xls I calculated donations as total contributions/Total income 1 to 1.5 million = 2.9% 1.5 to 2 million = 2.9% 2 to 5 million = 3.1% 5 to 10 million = 3.8% 10 million+ = 5.8% There are ...


17

A Reuters article, Trump's tax cut won't be the biggest in U.S. history looked at this claim in early November, 2017. They do consider various definitions that might be used. Corporate If it were measured only by percentage points off the top corporate rate, it would be the largest: The president and his fellow Republicans in Congress propose cutting ...


15

The BBC's Economics Editor, Stephanie Flanders, summarised the situation in January. Her article makes several points: Yes, the coarse claim is correct: Scotland 'got' £16.5bn more in UK public spending in 2009-10 than it contributed to total UK revenues - or a 'subsidy' of around £3,150 per head. This is in line with a number of factors that give ...


15

Mostly false. According to Wikipedia, List of countries by tax rates, Belgium has the highest maximum income tax rate (64% tax), Cameroon has the highest corporate tax rate (38.5%) and Netherlands have the highest minimum income tax rate (36.55%). Time.com reported in Jul 19, 2017: As the Republicans in Washington prepare to dig into the coming round of ...


15

The last three numbers seem to be based on the same data as this Common Dreams article: $870 for Corporate Tax Subsidies We've heard a lot about tax avoidance and tax breaks for the super-rich. With regard to corporations alone, the Tax Foundation has concluded that their "special tax provisions" cost taxpayers over $100 billion per year, or $...


Only top voted, non community-wiki answers of a minimum length are eligible