Nearly half of US households escape fed income tax (minimum wage, Obama, party)

[Rick Roma]

WASHINGTON—Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it's simply somebody else's problem.

Nearly half of US households escape fed income tax - Boston.com

[twista6002]

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization

Obama held true to his word. God bless the man. Can't wait to hear how the teaparty advocates react to this.

[summers73]

They won't be able to avoid the VAT, if it's indeed implemented. It will hurt the poor most of all.

[oldtimer2]

Maybe that is because the minimum wage is too high and we don't need no stinkin unions.

[jcarlilesiu]

We reward short comings and penalize success. Awesome plan.

[Rick Roma]

Originally Posted by jcarlilesiu

We reward short comings and penalize success. Awesome plan.

This is the liberal way.

[newonecoming]

Originally Posted by oldtimer2

Maybe that is because the minimum wage is too high and we don't need no stinkin unions.

Minimum wage now is way below what it was in the 1950's Then it was about 50% of the average wage now it is about 25%

http://www.sustainablemiddleclass.com/Income-inequality.html

The top 20% make over 50% of the money.

The bottom 20% make 4% of the money.

[ovcatto]

I need to find a new household.

[irspow]

Haha, that does not include the millions in the black market, read free market, that have no "income".

[golfgod]

Almost as high a percentage as the Fortune 500 and Wall Street Investment banks NOT paying taxes.