Half of households pay no income taxes, super rich see taxes fall

By Kase Wickman
Monday, April 18th, 2011 -- 9:39 am

The Internal Revenue Service and the Tax Policy Center in Washington have some statistics that will likely make last-minute filers extra-irate today: The super-rich are paying less in income tax than they used to, and nearly half of all U.S. households don't pay any income taxes at all.

The IRS tracks the 400 highest adjusted gross incomes, and how much they pay in income taxes, each year, reports the Associated Press. In 2007, the last available year for IRS data, the average income in that set was around $345 million, and they paid about 17 percent in federal income taxes. In 1992, the average income tax rate for the same set was 26 percent.

Think tank Tax Policy Center also has data that show that about 45 percent of households receive so many tax breaks that they won't pay federal income tax at all for 2010. The tax code contains $1.1 trillion in credits, deductions and exemptions, around $8,000 per taxpayer.

"It's the fact that we are using the tax code both to collect revenue, which is its primary purpose, and to deliver these spending benefits that we run into the situation where so many people are paying no taxes," Roberton Williams, a senior fellow at the Tax Policy Center, told the AP.

Creative Commons image via flickr user agrilifetoday.

Read more here:  http://www.rawstory.com/rs/2011/04/18/half-of-households-pay-no-inc...

Views: 68

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Sweettina2 on April 19, 2011 at 12:49pm
Yep, no shame.
Comment by youhavetoforgiveme on April 19, 2011 at 7:28am
You know that there is something wrong when Turbo Tax is still plying its trade with TV commercials after April 15th.....

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post

I'll Make my Final Stand

I’ll make my Final Stand Can’t quite remember on this strange dayWhy do I even bother to stay?Guess…See More
11 hours ago
cheeki kea commented on cheeki kea's photo
yesterday
cheeki kea posted a photo
yesterday
tjdavis posted a video

Ian Carroll's Most Controversial Opinion

Check out Ian Carroll: @Iancarrollshow Subscribe for videos and live shows - https://www.youtube.com/wearechangeSign up for more content like this and live s...
yesterday
Doc Vega favorited tjdavis's video
yesterday
Doc Vega commented on tjdavis's video
Thumbnail

Orson Welles' F for Fake Trailer (1976)

"Wow I would say Orson Welles out did himself and was more than an equal to anything Stanley Kubrick…"
yesterday
Doc Vega commented on Sandy's video
yesterday
Doc Vega posted a blog post

The Psycho-Political Assault on Americans and the West Today

 That we have been intentionally misled and lied to by the mainstream media, universities, and the…See More
yesterday
N.Morgan posted a discussion
Thursday
N.Morgan posted a status
""
Thursday
Burbia posted a photo
Thursday
Burbia posted a video

BUSH THE FATHER - CHAPTER 1

This is part one of three of a documentary covering George H.W. Bush's early career and entry into the CIA. Today the focus is mostly on Bush's father, Senat...
Thursday
tjdavis posted a video

Orson Welles' F for Fake Trailer (1976)

Dir: Orsan WellesSinopse: Em 1976, na ocasião do lançamento de "Verdades e Mentiras" nos EUA, Orson Welles teve a ideia de criar um trailer para promover o f...
Wednesday
Sandy posted a video

Vicki Devil Worship - 1st May 1989 Oprah Winfrey Show Interview With A Jewish Woman

Full episode can be watched here: https://www.bitchute.com/video/nydgPgyYSd1N/ - Note: Due to actions taken by the YouTube Community to remove the video "Sat...
Wednesday
Burbia commented on Doc Vega's blog post To all of You members here on 12160 I wish the best for all of you!
"Thnx. Much appreciated.  Let's hope Deagle is wrong for 2025."
Wednesday
Doc Vega posted a blog post
Tuesday
Barry Mundy commented on cheeki kea's photo
Thumbnail

Happy New Year to all

"Ha! Good observation."
Tuesday
cheeki kea posted photos
Tuesday
cheeki kea commented on cheeki kea's photo
Tuesday
Sandy posted a status
Monday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted