Thursday, April 8, 2010

Tax Tipping Point?

Today, I saw a couple different stats on the current state of federal taxation. A whopping 47% of 2009 tax returns show no net income tax . Stated differently, 53% of the population is paying all the taxes. We have seen these numbers before but after a little digging I found that only 3 years ago the 47% was 37%. The top 10% of the population pay 73% of the tax. Lots of talk lately about "fairness". With tax day one week away seems like we are close to a tax tipping point.