Breaking down the 47 percent(Read article summary)
Marron highlights a previous blog post where he explains why almost half of Americans pay no federal income tax. The repost comes in light of a leaked video of Republican presidential nominee Mitt Romney commenting on the 47 percent.
My most popular blog post, by a long shot, was this one in July 2011 explainingÂ why almost half of Americans paid no federal income tax. If you are interested in some context behind Governor Romneyâ€™s now famous remarks about the 47 percent (TPC calculated it as 46 percent for 2011), please check it out.
One item IÂ didnâ€™t mention in that post is thatÂ the number of taxpayers not paying federal income taxÂ should decline over time.Â As the economyÂ recovers, higher incomes will boost theÂ fraction of households that payÂ federal income tax.