With the U.S.' deadline for filing income tax returns for 2012 come and gone, we thought it might be interesting to find out which Americans aren't really paying a fair share of all the income they earn in the form of income taxes.
The answer may be found in our chart below, which we previously featured here:
Although built using data from 2009, newer data does not significantly alter this picture....
Here's what we wrote back on 26 April 2011:
Theoretically, all the area under the blue total aggregate income curve is subject to federal income taxes. In practice, deductions and tax credits exempt large portions of low-to-middle income earners from the burden of paying federal income taxes. The Tax Policy Center estimates that 47% of all income earners in 2009 either paid no federal income taxes or received back more from the federal government than what they would have had to pay, if not for the deductions and tax credits they could legitimately claim.
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