Posts Tagged ‘ social security ’

47% pay no federal income tax

47% pay no federal income tax

Contrary to what you might have heard on talk radio or TV, it’s not quite that simple. What’s true is that the Tax Policy Center, a well-regarded think tank, calculated that 47% of Americans would owe no federal income taxes for 2009, up from the usual 38% who typically owe no income tax on April 15. Most still pay Social Security taxes, Medicare taxes, sales taxes and property taxes (if they own any property).



Obama disowns deficit he helped shape

Obama disowns deficit he helped shape

“That wasn’t me,” President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him on Day One.