Wednesday, April 14, 2010
New York Times, Yes, 47% of Households Owe No Taxes; Look Closer, by David Leonhardt:
That’s the portion of American households that owe no income tax for 2009. The number is up from 38% in 2007, and it has become a popular talking point on cable television and talk radio. With Tax Day coming on Thursday, 47% has become shorthand for the notion that the wealthy face a much higher tax burden than they once did while growing numbers of Americans are effectively on the dole.
Neither one of those ideas is true. They rely on a cleverly selective reading of the facts. So does the 47% number.
New York Times Economix, Taxing the Rich, Over Time, by David Leonhardt:
(Hat Tip: Marty McMahon.)
My column this week notes that tax rates on the affluent have fallen more in recent decades than tax rates on other groups. Here are the details: