At a time when the average American is feeling financially exhausted, there are some who are sitting in the shade drinking lemonade. Not only because they are millionaires but also because they are worry tax paying free. According to the IRS, nearly 1,500 millionaires did not pay taxes in 2009.
But of the high earners who avoided paying income taxes, many did so due to heavy charity donations or foreign investments: Los Angeles Times.
While millionaires play dodge ball with the IRS, “nearly 2 million people dropped out of the taxpaying pool” specifically due to layoffs.
Key fact: The top 50 percent of U.S. taxpayers that earned at least $32,879 paid 97.1 percent of U.S. income taxes.
Individual Income Tax Rates and Shares, 2008
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