IRS: 235,413 million-dollar earners

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Facts Give Perspective. Please read the whole article at the link

By Rightwingconspirator

Economy • August 2011 • Views: 1,318

politico.com

Jennifer Epstein

President Barack Obama and many Democrats are talking about raising taxes on the wealthy, and new data released this week by the Internal Revenue Service reveals new details about the number of Americans who fit that bill.And, the data shows, the 235,413 taxpayers who reported earning seven digits or more in 2009 took in a total of $726.9 billion — yet 1,470 paid not a penny of income taxes. In 2007, 959 Americans earning $1 million or more paid no income taxes.

Economy Taxation

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7 comments

Interesting Times Fri, Aug 5, 2011 10:27:31am

Unpossible. His Rushness of Limbaugh tells me only the poor pay no income tax. Leave the precious, precious Job Creators™ alooone.

Daniel Ballard Fri, Aug 5, 2011 11:09:54am

re: #1 publicityStunted

Hey on a related note as per economy, which is easier?-Creating jobs here or strongly encourage companies to bring existing jobs back to America?

I suspect we have an untapped resource right there.

TampaKnight Fri, Aug 5, 2011 2:15:08pm

No back story or context = yawn.

Daniel Ballard Fri, Aug 5, 2011 2:31:25pm

re: #3 TampaKnight

Did you not see the subtitle? Perspective is the context.

KingKenrod Fri, Aug 5, 2011 4:09:20pm

If you're wondering how someone can make $1 million and pay no taxes, it's probably older people who get all of their income from tax exempt bonds. $20 million in bonds at 5% will net $1 million income tax exempt.

According the the IRS data, $16 billion in income came from tax exempt interest earned by those making over $1 million.

HappyWarrior Fri, Aug 5, 2011 4:33:58pm

Someone tell me why it's "class warfare" to bring this up. This is crap. Why do these people think they shouldn't have to pay their taxes? Greedy assholes.

Bob Dillon Fri, Aug 5, 2011 10:03:40pm

The Top 10 Percent of Earners Paid 70 Percent of Federal Income Taxes
Top earners are the target for new tax increases, but the U.S. tax system is already highly progressive. The top 1 percent of income earners paid 38 percent of all federal income taxes in 2008, while the bottom 50 percent paid only 3 percent. Forty-nine percent of U.S. households paid no federal income tax at all.

[Link: www.heritage.org...]

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