IRS: Nearly 1,500 millionaires paid no federal income tax in 2009

Click here to find out more!
Taxes

Of an already small pool of millionaires and billionaires, 1,470 didn’t pay any federal income taxes in 2009, according to the Internal Revenue Service.

Just over 0.1% of taxpayers -- or 8,274 out of 140 million total -- made more than $10 million in 2009, according to the agency. More than 235,000 taxpayers earned $1 million or more, according to a recent report from the agency.

But of the high earners who avoided paying income taxes, many did so due to heavy charity donations or foreign investments.

About 46% of all American households won’t pay federal income tax in 2011, many due to low income, tax credits for child care and exemptions, according to the nonpartisan Tax Policy Center.

In the meantime, during what many are now suggesting may have been the first part of a double-dip recession, the IRS said nearly 2 million people dropped out of the taxpaying pool.

Rising layoffs are partly to blame. Nearly 11.3 million taxpayers collected unemployment benefits in 2009. The amount of benefits paid out nearly doubled to $83 million.

Adjusted gross income fell $636.4 billion, or 7.7%, from 2008 to 2009, while the average American income slipped more than 6% to $54,283. More than 97% of returns reported earnings of less than $200,000.

Even gambling returns slipped, down nearly 13% to about $24 million.

http://latimesblogs.latimes.com/money_co/2011/08/nearly-1500-millio...

Views: 137

Comment

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

Join 12160 Social Network

Comment by Mike the Watchman on August 10, 2011 at 10:51am
Most do not look past what their parents told them after getting their first job. The income tax does NOT apply to most Americans. Sadly, these individuals blindly volunteer their earnings up to the IRS year after year. www.taxrevolt.us

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Less Prone favorited tjdavis's photo
7 hours ago
cheeki kea posted a photo
yesterday
cheeki kea favorited Doc Vega's blog post The De-intellectualizing of the West!
yesterday
rlionhearted_3 commented on Doc Vega's blog post The Exposure of the 9-11 attacks as an Inside Job! In Plane SITE!
"  Scrubbed from the internet? The idiots photographed themselves!!! “Conspiracy…"
yesterday
rlionhearted_3 commented on Doc Vega's blog post The Exposure of the 9-11 attacks as an Inside Job! In Plane SITE!
yesterday
Doc Vega posted a blog post

A Halloween Story

 I’d made a reservation for a cabin a day before Halloween was to fall. I guess watching little…See More
yesterday
Less Prone favorited tjdavis's blog post The Trap
Sunday
Doc Vega's 2 blog posts were featured
Sunday
Doc Vega commented on Doc Vega's blog post The Exposure of the 9-11 attacks as an Inside Job! In Plane SITE!
"rlionhearted, That's a question I've asked from thevery beginning! What the hel;l was…"
Saturday
Doc Vega commented on Doc Vega's blog post The Exposure of the 9-11 attacks as an Inside Job! In Plane SITE!
"Less Prone, they are not just folling us they are killing innocent citizens and non-combatants for…"
Saturday
tjdavis posted a video

The Conformist (1970) Original Trailer [HD]

Directed by Bernardo Bertolucci. With Jean-Louis Trintignant, Stefania Sandrelli and Gastone Moschin.The Conformist Blu-ray : https://amzn.to/3QruE5FThe Conf...
Saturday
Doc Vega posted a blog post

How Ukraine Revolutionized Warfare and Stopped Putin

 A war that Vladimir Putin sold to his people that would be a cake walk that would be over in a few…See More
Friday
tjdavis posted a photo
Friday
tjdavis posted a photo
Friday
tjdavis posted a blog post
Thursday
tjdavis posted a video

Linda Moulton Howe Reopens the Antarctica Mystery With New Claims

Linda Moulton Howe has reopened a file she guarded for twenty-five years, and nearly every witness inside it is now gone. It holds testimony about Antarctica...
Thursday
tjdavis posted a photo
Thursday
Doc Vega favorited Central Scrutinizer's group Clinton For Prison!
Thursday
rlionhearted_3 commented on Sandy's photo
Thumbnail

FB_IMG_1790355245884

"There was no 6 million! See Red Cross, put Jewish deaths during WWII at 277,000! German…"
Thursday
Doc Vega posted a blog post

The De-intellectualizing of the West!

 One of the saddest aspects of reducing a society into chaos and division is propaganda, which is…See More
Sep 30

© 2026   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