Many pay no U.S. Federal Income Tax ?

Edwards Finance > Income Tax

Q. Many pay no U.S. Federal Income Tax? I read that in 1999 48% of federal income tax filers paid zero tax. Furthermore, due to the Earned Income Tax Credit, many of these persons got money back from the IRS resulting in a net gain for those persons. I suspect some people who think our system unfairly favors the rich do not know these facts.

A. -I love posts that begin "I READ" without giving any information as to the source of where the person read the information. You probably read that 48% of federal income tax filers paid zero tax WITH THEIR RETURN because the taxes were already withheld from their paychecks. That means 52% over paid and were due a refund. This proves nothing, except that 52% of the people overpaid their taxes in order to get a refund. Too often, people focus only on the bottom line refund amount, ignoring the more important line that says, "TOTAL TAX". -I don't pay income taxes to the IRS. I just give donations from my paycheck to the IRS.

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