The current polemic over who owes no federal
income tax is a product of the 2008 financial crisis. Slightly over 43% (700
million homes) do not pay federal income taxes, and of them 67%- the largest
portion is due the lack of annual income averaging under $30,000. Having too
little income to tax vs. high income wages that have decimated their federal
income tax by donation to charity creates a politically charged topic. In the
end, the dropping total of who pays federal income taxes in the future is presented.
At this pivotal point
in teenage lives, when the age 18 is coming around the corner, factual based
articles concerning how much money will be taken out of one’s pocket and
provided into the money supply system federally grows a new significance. This
article encourages the reader to consider their current position and compare to
others throughout our nation casually. For those who are unfamiliar with
what a federal income tax is might benefit or respond to the article had the
author included a brief summarized explanation. Over all the article was not to
informative and led me to search through the site and Google for a more in
depth articles concerning federal income taxes, and how I might be able to
lower mine in the future. Of the evidence I read, I do see the importance of
looking at the usage of money on necessities vs. frivolous items, how much
money over all left from charity donations left to the income taker, and
current federal balance in money supply to be where a significant consideration
to lie on the equality of 43% of households not required to pay federal income
tax.
Article by: Jeanne Sahadi
Website: www.cnn.com
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