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.
Emmy's First Birthday!
9 years ago
You got that right !
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