Death is inevitable, but federal income taxes aren't for an increased number of high-income earners. New IRS statistics show 7,389 federal tax returns with $200,000 or more in adjusted gross income reported no federal income taxes in 2005. That's a 161% jump from the 2,833 comparable returns filed in 2004.
Additionally, 4,224 of the over-$200,000 earners reported no worldwide income tax liability on their 2005 returns, the IRS data show. That represents a 75% increase from the 2,420 comparable returns filed in 2004. The data are the most recent available from the IRS.
It shows a rising number of high-income earners have avoided the alternative minimum tax, which was intended to ensure that tax shelters, deductions and loopholes wouldn't exempt wealthy Americans from paying at least some federal income tax. "It's an interesting case study on how people find ways to avoid paying taxes," said Howard Gleckman, a senior research associate and tax blog editor at The Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution. The increases stem in part from two tax law changes, according to the IRS Spring 2008 Statistics of Income Bulletin.
Responding to Hurricane Katrina, Washington exempted charitable contributions between Aug. 27, 2005, and Jan. 1, 2006, from the overall limit on itemized tax deductions and the 50% of adjusted gross income limit for such giving. The one-time change wasn't limited to hurricane-related contributions. "There was no excuse for not restricting it to the affected area," said Joann Weiner, a former Treasury Department employee who analyzed the changes in her current job as a contributing editor at Tax Analysts, a non-profit publisher of tax information and data.
Under the American Jobs Creation Act of 2004, Washington also allowed taxpayers to eliminate up to 100% of their alternative minimum tax liability by using credits for any foreign taxes paid. Before tax year 2005, those credits could only eliminate 90% of federal income taxes.
I pay my taxes, honestly and in full. That is also a middle class income, at least in CA. I make more then that and I am certainly middle class.
I have no clue why you think we don't pay taxes, we pay a hell of alot more then most people. And yes, we DO pay 40% if you add state and federal income tax together. I am paying MORE then my fair share.
The harder you work in the US the more you pay, it is the lazy ones that don't pay $hit, mooching off of the hard working Americans.
I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.