Friday, February 19, 2016

Almost Half of US Residents Still Pay No Federal Income Tax

Almost Half of US Residents Still Pay No Federal Income Tax:
DS-IRS-non-federal-income-tax-chart-1_700The chart tells the story.
In 1962, the percentage of people who did not pay federal income taxes themselves and who were not claimed as dependents by someone who paid federal income taxes stood at 24.0 percent; it fell to 12.6 percent by 1969 before beginning a ragged and ultimately steady increase.
By 2000, the percentage was 34.1 percent; by 2009, it was 49.6 percent. The number dropped to 44.7 percent in 2011, and it has hovered around 44 percent ever since.
An astounding 33.67 percent of tax returns are filed only to claim benefits while not paying any income tax. 
That is up from 18.64 percent in 1990.

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