Close To Half Of The U.S. Households Currently Do Not Owe Federal Income Tax. Truth or Fiction?
“Close to half of U.S. households currently do not owe federal income tax.” How accurate is this statement? This statement is cited as evidence, typically by Republicans, that lower income families do not pay their fair share of income taxes. This viewpoint is flawed because it specifies income tax. There are other forms of taxation. Let us list them one by one and see who pays and at what rate. Income Tax The recession of 2008 and beyond has vastly…