Check this out, from CNNMoney.com:
In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.Some in that group will even get additional money from the government because they qualify for refundable tax breaks.
The ranks of those whose major federal tax burdens net out at zero -- or less -- is on the rise. The center's original 2009 estimate was 38%. That was before enactment in February of the $787 billion economic recovery package, which included a host of new or expanded tax breaks.
The story points out that the number of households paying no federal income tax -- or even getting money FROM the government -- include, as you might expect, "the vast majority" of those making up to $30,000 and almost half of those making between $30,000 and $40,000.
But it also includes about a quarter of households whose earners make between $50,000 and $75,000 and 9 percent of those bringing in between $75,000 and $100,000.
I'm reminded of the discussion during the 2008 presidential campaign about what constitutes the "middle class."
Finally, the story notes that "the issue doesn't get a lot of attention even as lawmakers debate how to pay for policy initiatives like health reform, whether to extend the Bush tax cuts and how to reduce the deficit."
What? Politicians treating undeniable facts as if they don't exist? Stubbornly refusing to acknowledge any information that isn't convenient for them? Completely ignoring reality in general?
I'm shocked, I tell you. SHOCKED!!
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