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Income Tax: Why 70 Million Americans Don't Pay Uncle Sam a Dime
By Joann M. Weiner - Politics DailyBy midnight Thursday, about 150 million Americans will have buckled down and filed their annual federal income tax returns, and the IRS will begin collecting nearly $1 trillion in revenue from these individuals. While you struggle to meet your deadline, consider that although the law requires you to file a tax return, more than 70 million of your fellow filers will not owe a single penny to Uncle Sam. As the latest news from the non-partisan Tax Policy Center shows, a record 47 percent of tax filers will have no federal income tax liability this year. You may wonder, how is this ...
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