Via TaxProf comes this news:  51% of income “tax filing units” now pay no federal income tax.  While that does not necessarily translate into 51% of the population, it still shows that there is a strong political incentive to pander to those who pay no federal income taxes and to wail against the “rich.”

Being “rich” now means you pay federal income taxes.

In fact, as detailed in this letter from the CBO linked by TaxProf, 30% of “tax filing units” actually get a “refundable credit” from the federal government, meaning they get money from the government. 

Quite possibly, your money.

——————————————–
Follow me on Twitter, Facebook, and YouTube
Visit the Legal Insurrection Shop on CafePress!
Bookmark and Share