Wednesday, April 19, 2017

Discriminatory Shakedown

Don't ask me what I want it for
If you don't want to pay some more
--The Beatles

The deadline to file federal income taxes was yesterday. Many, however, are not subject to the annual shakedown. Studies estimate that about 44% of US households will not pay any taxes to the feds this year.

Less than one in six of non-payers earns no income. Most of the rest do but take advantage of legal tax breaks.

Of course, all is not equitable in the 56% of households that pay taxes. Those earning more than $500,000/yr, which amounts to 1-2% of all US households, pay about 45% of all federal income tax.

The tax man chooses his targets with discrimination.

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