Wednesday, April 7, 2010

Half of US Households Get a Free Ride on Federal Income Taxes

The following quote is often attributed to Benjamin Franklin, but the source is unclear.
When the people find that they can vote themselves money, that will herald the end of the republic. Sell not liberty to purchase power.

Half of American households are now getting a free ride on the other half. We are doomed.

AP reported:
About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization.

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