Can anyone get a source/confirmation for Romney's 47% claim? I find it hard to believe that, even with the recession, so many are that far below the poverty line, or aren't rich but have enough tax breaks to come down to zero.
ETA: Okay, I just found something about it on http://money.cnn.com/2012/09/18/pf/taxe ... ?hpt=hp_t1]CNN's website:
ETA2: http://money.cnn.com/galleries/2012/pf/ ... ?hpt=hp_t1]Here's another page at CNN which breaks out the numbers graphically.
-- Bob
---------
Then the horns kicked in...
...and my shoes began to squeak.
ETA: Okay, I just found something about it on http://money.cnn.com/2012/09/18/pf/taxe ... ?hpt=hp_t1]CNN's website:
Quote:In fact, the main reason so many Americans end up with no federal income tax liability is Congress' addiction to tax breaks -- tax breaks both Democrats and Republicans have supported....Seniors on Social Security and Medicare are supposed to be part of Romney's constituency. This may not sit well with them.
The Tax Policy Center has estimated that in tax year 2011, 46% of households owed nothing in federal income taxes. About half are nontaxable strictly because of tax breaks. The other half didn't owe federal income tax because of exemptions allowed for subsistence level income and dependents.
The No Tax Club includes some of the very rich -- a few thousand a year usually.
But the group of nonpayers is made up disproportionately of low- and lower-middle-income households, including seniors. More than 90% of all the those who had no federal income tax liability in 2011 had income below $50,000.
ETA2: http://money.cnn.com/galleries/2012/pf/ ... ?hpt=hp_t1]Here's another page at CNN which breaks out the numbers graphically.
-- Bob
---------
Then the horns kicked in...
...and my shoes began to squeak.