Wednesday, April 20, 2011

Zero Tax Payment

The media has played up General Electric' zero federal income tax in 2010 recently.  Why haven't they followed up with the story that 47% of all American wage earners didn't pay any federal income tax either? 

Of the two stories, The GE non-payment impacts the average tax payer less than the 47%, since GE would pass their tax burden on to consumers as a cost of doing business. 

Each of the 47% who don't pay a federal tax directly increase the amount of taxes paid by the 53% who do.  I think that is the bigger story.

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