Leeching off the taxpayer tit: Analysis: ‘Fair share’ in taxes? Not by the numbers


As Americans sit down to file their federal tax returns, a simple question comes to mind — what’s a “fair share” to give the federal government in taxes?

For half the working population, fair means paying almost no income taxes at all.

“The top 10 percent income earners pay about 70 percent of federal income taxes,” says Will McBride of the Tax Foundation. “The bottom 50 percent of tax filers have, they pay almost no federal income tax. They pay about 3 percent of federal income taxes.”

…for many of the people who pay no taxes, the government also allows tax credits, which end up providing refunds.

“Close to a hundred billion in checks sent out by the IRS (go) to folks who have no tax liability,” McBride said. “So the IRS is becoming a spending agency.”

Read More: http://www.foxnews.com/politics/2012/02/20/analysis-fair-share-in-taxes-not-by-numbers/#ixzz1n0qzroNb?test=latestnews

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