I'm wondering if someone can clarify this for me. I make about $50k per year and pay about $8k in payroll taxes outside of SS and Medicare taxes (an additional $3k roughly, which I know don't apply). I have no deductions, don't own a home, and have no tax credits other than the standard deduction. I claim me on my payroll taxes and rarely get a refund on tax day, sometimes owing about $50 or so. NBD. But $8K nonetheless was taken from my pay. The 47% confuses me. Does that mean that a parent making about the same money as me who can claim head of household, owns a home, has three kids, and can take advantage of tax credits gets a check back for the entire $8k (or whatever he or she paid into fed taxes) that was deducted from their paycheck over the year? Or is my example too simplistic? I'm really confused on who is not paying taxes and how they manage to do that...TIA.
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