The Tax Man (Does Not) Cometh

Expanding upon our discussion of tax rates and that 47% of Americans do not pay taxes, the New York Times ran an article analyzing the numbers. It factors in tax credits, while also looking at the impact of other taxes, like corporate taxes and excise taxes.

"Even if the discussion is restricted to federal taxes (for which the statistics are better), a vast majority of households end up paying federal taxes. Congressional Budget Office data suggests that, at most, about 10 percent of all households pay no net federal taxes. The number 10 is obviously a lot smaller than 47."

(N.B. This is a post for Jacinth Sohi, not Abhi. She just hasn't figured out the website yet to be able to publish herself.)