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Economy

“50,219,667 Tax Return Filers Paid $0 or Less in Income Taxes”

“Of the 150,272,157 tax returns filed for the 2016 tax year, 50,219,667—or 33.4 percent–were classified by the Internal Revenue Service as “nontaxable returns,” meaning the people who filed them paid $0 or less in income taxes, according to data published by the Statistics of Income Division of the IRS.

At the same time, 80 percent of all income taxes paid that year were paid by tax return filers who had adjusted gross incomes of $100,000 or more.”

https://www.cnsnews.com/news/article/terence-p-jeffrey/irs-50219667-tax-return-filers-paid-0-or-less-income-taxes

Depending on your view of the situation this could be a benefit or a detriment to the economy. Taxes are lower but what about the national debt? America really needs to cut spending.

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