From Mark J. Perry's blog:
The Tax Foundation reported last week that more than 143 million individual income tax returns were filed in 2007, and 46.6 million of those returns had a zero or negative tax liability, setting a new record for the number of “non-payers.”
This group represented almost one out of every three tax returns filed in 2007 (32.6 percent, see chart above), and reflects tax filers whose exemptions, deductions, and credits wiped out any federal income taxes that would have been due.
According to the Tax Foundation, every dollar withheld…
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More on taxes:
Government OUTRAGE: 65% tax rates coming
The best thing about taxes you'll read all month
This should make you furious if you own a business or earn more than $40,000