Tumble DC 25

Marginally better than silence

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No less an authority than the Internal Revenue Service reports that at least 10,080 households with gross incomes of over $200,000 paid nothing at all in income taxes in 2009. (OK, that doesn’t literally put them all in the top 1 percent, but pretty close.) Those high earners are not (necessarily) breaking any laws—just taking clever advantage of a panoply of tax deductions. They’re also ducking the alternative minimum tax, which, as Bloomberg explains, “was created in 1969 in response to a report that 155 people earned $200,000 and paid nothing in taxes.” The horror.
Vince Beiser, Ten thousand households earning over 200,000 paid no income taxes in 2009.

Filed under Income Taxes income inequality income disparity taxes

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  3. nhaler said: wow what a completely inconsequential amount of money to lose the contribution-of and make a fuss over
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