47% will pay no federal income tax
Paying federal income tax – ANY income tax, should become a status symbol in the U.S. Our “progressive” tax system annually exempts more and more folks from this tax roll. We are up to a 2009 figure of 47% paying no income tax, dramatically above this same year’s estimated figure of 38%.
And no, I’m not talking about a NET income tax payer after withholding. I’m talking about owing zero income tax – or even less with the EITC refund.
Now, don’t you feel good about your newly discovered status symbol – being a taxpayer?
Here’s the media story.
http://money.cnn.com/2009/09/30/pf/taxes/who_pays_taxes/index.htm?section=money_topstories