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The data showed an alarming drop in the number of taxpayers reporting any earnings from a job -- down by nearly 4.2 million from 2007 -- meaning every 33rd household that had work in 2007 had no work in 2009.
...
The average tax rate was 11.4 percent, up from 10.5 percent in 2007, the Internal Revenue Service data showed.
Income is down, tax percentage is up. Interesting.
No income tax was paid by 1,470 of the 235,413 taxpayers earning $1 million or more in 2009, compared with the 959 taxpayers with million-dollar-plus incomes who paid no income taxes in 2007.
#1 - That is a very small percentage - less than 1%.
#2 - Don't raise the tax rates - collect what is due first - then let's see where we are. GE and Exxon need to pay what they owe.
The number of tax returns filed fell to 140.5 million, down almost 2 million compared with 2007, as millions of Americans went from working to having no earned income or so little that they did not have to file a tax return.
...
Just 8,274 taxpayers reported income of $10 million or more in 2009, down 55 percent from 18,394 in 2007.
...
While the number of people who earned enough income to file a tax return fell, the share of those filing who paid no income tax rose to 41.7 percent of tax returns, up from 36.4 percent in 2009.
The average income of those filing but paying no tax was $14,483.
The economic engine is sputtering. Even though these are 2009 numbers, I think we can safely say there hasn't been much change since then.
All of these numbers are reflected in the slow GDP numbers - the phony GDP numbers that were revised last week back to 2003.
The data showed an alarming drop in the number of taxpayers reporting any earnings from a job -- down by nearly 4.2 million from 2007 -- meaning every 33rd household that had work in 2007 had no work in 2009.
...
The average tax rate was 11.4 percent, up from 10.5 percent in 2007, the Internal Revenue Service data showed.
Income is down, tax percentage is up. Interesting.
No income tax was paid by 1,470 of the 235,413 taxpayers earning $1 million or more in 2009, compared with the 959 taxpayers with million-dollar-plus incomes who paid no income taxes in 2007.
#1 - That is a very small percentage - less than 1%.
#2 - Don't raise the tax rates - collect what is due first - then let's see where we are. GE and Exxon need to pay what they owe.
The number of tax returns filed fell to 140.5 million, down almost 2 million compared with 2007, as millions of Americans went from working to having no earned income or so little that they did not have to file a tax return.
...
Just 8,274 taxpayers reported income of $10 million or more in 2009, down 55 percent from 18,394 in 2007.
...
While the number of people who earned enough income to file a tax return fell, the share of those filing who paid no income tax rose to 41.7 percent of tax returns, up from 36.4 percent in 2009.
The average income of those filing but paying no tax was $14,483.
The economic engine is sputtering. Even though these are 2009 numbers, I think we can safely say there hasn't been much change since then.
All of these numbers are reflected in the slow GDP numbers - the phony GDP numbers that were revised last week back to 2003.
Interesting tidbits:
1) Effective tax rates HAVE increased under Obama...the man who promised us no tax raises under his watch.
2) The millionaires generally have good accountants.
3) Even the rich are being affected by this (the 55% decrease figure).
4) Even more poor people aren't paying taxes.
5) EVERYONE is suffering under Obama's failed policies.
Federal government jobs are looking bright. If you have friends or family in the gov't, you're golden too. Sounds a little like some Eastern European countries prior to 1989.
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