The problem with understanding this very important feature of quantum theory is that you seem to think of "light" as a stream of photons, misidentifying photons with quasi-classical bullet-like objects. This is the wrong picture!
If you want to use a classical picture about light you are much better off with thinking in terms of classical electromagnetic fields. Then it's very easy to understand why a horizontally polarized wave goes partially through a polarization filter oriented with an angle of ##\pi/4## relative to the horizontal direction (in the plane perpendicular to the wave vector ##\vec{k}## of the wave). The intensity behind this filter is indeed 1/2 of the original intensity (the "intensity" is a measure for the energy-density current, given by the Poynting vector, going through the area of your detector).
Now the correct quantum theory of single-photon states can be qualitatively understood by taking the classical intensity, normalized to one (i.e., you consider relative intensities like the 50% intensity in the above considered case relative to the intensity of the incoming light), as the probability for the photon, prepared in the given state, to go through the polarization filter in the given orientation. The only difference between QED and classical electrodynamics on this level of consideration simply is that a single photon cannot be split in parts having the same wave properties as the single photon you started with. Particularly you cannot split a photon within linear response theory, i.e., a linear optical device like a polarization filter won't split photons. Thus you can only have one whole photon go through the polarizer or have one whole photon completely absorbed by it. There's no way that you have half a photon going through and half a photon being absorbed, and that's the true quantum feature of single-photon states in such a setup, and it's pretty close to the way of thinking about em. waves within classical electrodynamics rather than thinking of photons as particle-like objects.
One whould note that single-photon are very much different from anything particle like you can think of. The reason is that due to relativistic QFT (which is the only consistent relativistic quantum theory we have today) a photon cannot be localized at all. There's not even a position operator for photons in the literal sense. The only thing you can say about a photon, knowing the quantum state it's preapred in, is the probability for finding it at a given place with some detector (the detector as a massive macroscopic object of course can be localized)!