4,000 millionaires don't pay income taxes: Does Romney not care about them?
Romney's '47%' includes thousands of millionaires
By David Lazarus, LA Times
10:25 AM PDT, September 19, 2012
To hear Republican presidential nominee Mitt Romney tell it, the "47%" of people who pay no federal income taxes are a bunch of government-hugging freeloaders who aren't pulling their economic weight.
In fact, he's talking about his fellow millionaires. At least some of them.
According to the Tax Policy Center, about 4,000 households with annual incomes over $1 million ended up paying zilch in federal income taxes last year. An additional 14,000 households falling into this category made between $500,000 and $1 million.
These aren't huge numbers compared with the roughly 76 million elderly, disabled and low-income Americans who also had no federal income tax liability (although nearly all paid other taxes, such as state and sales taxes).
(More here.)
By David Lazarus, LA Times
10:25 AM PDT, September 19, 2012
To hear Republican presidential nominee Mitt Romney tell it, the "47%" of people who pay no federal income taxes are a bunch of government-hugging freeloaders who aren't pulling their economic weight.
In fact, he's talking about his fellow millionaires. At least some of them.
According to the Tax Policy Center, about 4,000 households with annual incomes over $1 million ended up paying zilch in federal income taxes last year. An additional 14,000 households falling into this category made between $500,000 and $1 million.
These aren't huge numbers compared with the roughly 76 million elderly, disabled and low-income Americans who also had no federal income tax liability (although nearly all paid other taxes, such as state and sales taxes).
(More here.)
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