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http://money.cnn.com/2009/09/30/pf/taxes/who_pays_taxes/index.htm
Seriously? That percentage sounds crazy!
Seriously? That percentage sounds crazy!
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The ranks of those whose major federal tax burdens net out at zero -- or less -- is on the rise. The center's original 2009 estimate was 38%. That was before enactment in February of the $787 billion economic recovery package, which included a host of new or expanded tax breaks.
The issue doesn't get a lot of attention even as lawmakers debate how to pay for policy initiatives like health reform, whether to extend the Bush tax cuts and how to reduce the deficit.
The vast majority of households making up to $30,000 fall into the category, as do nearly half of all households making between $30,000 and $40,000.
As you move up the income scale the percentages drop.
Nearly 22% of those making between $50,000 and $75,000 end up with no federal income tax liability or negative liability as do 9% of households with incomes between $75,000 and $100,000.
Ever get an income tax return?Doesn't seem at all fair to me.
Ever get an income tax return?
Poor people don't pay as much tax. If you don't have a job--like so many people now--you don't pay tax. This isn't hard to understand. What is our friggin unemploment rate now? 10.9 percent or so?
Poor people don't pay as much tax. If you don't have a job--like so many people now--you don't pay tax. This isn't hard to understand. What is our friggin unemploment rate now? 10.9 percent or so?
The Labor Department may say tomorrow that job losses in September totaled 175,000, according to economists surveyed by Bloomberg, while the unemployment rate rose to 9.8 percent, the highest since 1983.
I understand that part. But look at the zero tax liability number making over $50k/yr, then over $100k/yr.
it helps to have a 'creative' tax guy like i have.
This guy?
<a href="http://s626.photobucket.com/albums/tt348/chewy0051/?action=view¤t=norm.jpg" target="_blank"><img src="http://i626.photobucket.com/albums/tt348/chewy0051/norm.jpg" border="0" alt="Norm Peterson"></a>