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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowI enjoyed reading the article “No enthusiasm for cuts among those not taxed” by Cecil Bohanon and Nick Curott in the Indianapolis Business Journal [Nov. 20].
An additional note that I have never heard mentioned on the topic is the impact of refundable earned income tax credits. I don’t think most people are aware that many low-income individuals not only pay no federal income taxes—yet they actually receive a refund.
I have to admit that, even though I have a degree in accounting, I did not realize this until I had volunteered several years for the Volunteer Income Tax Assistance program.
I think most people do not realize the difference between Social Security/Medicare, which everyone pays, and income taxes. In my experience, most people think they do pay taxes because they do not understand the difference.
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Mikala Muller
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