47% Pay no Income Tax
According to this CNN
story, "In 2009, roughly 47% of households, or 71 million, will not owe any
federal income tax, according to estimates by the nonpartisan Tax
Some in that group will even get additional money from the government because they qualify for refundable tax breaks. 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." Only some of the implications of this are touched on in the story. Interesting, no?
4:16 PM / October 1, 2009
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