WOW: 45% of Americans Pay NO FEDERAL INCOME Tax

Screen Shot 2016-04-18 at 10.05.18 AMWhy the federal government thinks they get to keep a portion of your profits is beyond understanding. Check this out.

By Catey Hill

Many Americans don’t have to worry about giving Uncle Sam part of their hard-earned cash for their income taxes this year.

An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax, according to data for the 2015 tax year from the Tax Policy Center, a nonpartisan Washington-based research group. (Note that this does not necessarily mean they won’t owe their states income tax.)

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Roughly half pay no federal income tax because they have no taxable income, and the other roughly half get enough tax breaks to erase their tax liability, explains Roberton Williams, a senior fellow at the Tax Policy Center.

 

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