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: 69

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

Burbia posted a blog post

James Comey appears to call for the assassination of President Trump

I'm sure these are the kind of shells Comey is implying here. …See More
12 hours ago
Doc Vega posted blog posts
yesterday
rlionhearted_3 commented on Doc Vega's blog post If History is Ever Portrayed as It Really Happened
"The “white dude in the center” is Bill Gates. People been planning shit for generations."
yesterday
rlionhearted_3 favorited Doc Vega's blog post If History is Ever Portrayed as It Really Happened
yesterday
Burbia posted videos
yesterday
Doc Vega commented on tjdavis's blog post The Dems Love Their Demons
"Gruesome AI romance photography! "
yesterday
Doc Vega favorited tjdavis's blog post The Dems Love Their Demons
yesterday
rlionhearted_3 posted a photo
Wednesday
Doc Vega posted blog posts
Wednesday
cheeki kea commented on tjdavis's photo
Wednesday
cheeki kea favorited tjdavis's photo
Wednesday
cheeki kea favorited tjdavis's blog post The Dems Love Their Demons
Wednesday
cheeki kea posted a blog post
Wednesday
tjdavis posted a blog post
Wednesday
Doc Vega posted a blog post

And Another Wilderness Expert Disappears

Thomas Siebold was considered to be a well-trained survivalist. He had hiked and lived in the…See More
Tuesday
Doc Vega commented on Doc Vega's blog post In Disarray
"cheeki kea Thanks for your support! "
Tuesday
Burbia commented on Burbia's photo
Tuesday
Burbia commented on Burbia's video
Thumbnail

IT’S OVER! Trump OBLITERATES IRS as Social Security Just Changed FOREVER!

"The IRS has lost almost one-third of its tax auditors after 2 months of DOGE cuts, report…"
Tuesday
Burbia posted videos
Tuesday
cheeki kea favorited Doc Vega's blog post In Disarray
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