Recession, new tax credits have nearly half of US households paying no federal income tax: AP
In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax.
Related Posts:
- Tax Foundation — Record Numbers of People Paying No Income Tax; Over 50 Million “Nonpayers” Include Families Making over $50,000
- Surge of “Nonpayers” Will Be Part of Bush Tax Legacy — Scott A. Hodge, Tax Foundation
- Most See $50,000 As Middle Income: Poll
- The Truth About Income Inequality — By Diana Furchtgott-Roth
- Census Bureau: 40% of uninsured residents in United States make $50,000 or more every year
