Congressman Patrick Tiberi (R-OH), a House Ways and Means member, recently introduced a bill (H.R. 4457, “America’s Small Business Tax Relief Act of 2014”) that would restore Section 179 to 2013 levels and make the law...
- The Tax Policy Blog
- Debunking a Myth Before Further Propagation
Debunking a Myth Before Further Propagation
Does a large portion of America's rich get away from the IRS scot-free, escaping federal income taxes?
In fact, according to 2009 IRS data (table 1.1), only 0.3 percent of non-payers (tax filers who pay no federal income tax) earn more than $100,000/year.
The claim that droves of America's wealthy are getting away from the IRS is erroneous. It is yet another fallacy that could further erode the possibility of civil political discourse between parties and their constituents, which could result in a slower economic recovery.
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