47% of American Households Pay NO Income Tax

A study done by the Tax Policy Center reveals that ~47% of American households will pay NO income tax for 2009. Now, the Statistics of Income Division (SOI) in the IRS will confirm that estimate (or not) when it publishes the tax data for 2009 next year. However, when you read how the Center came up with its estimate it is not hard to imagine that their conclusions could be correct.

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