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According to estimates by the Tax Policy Center, nearly half of households -- 47%, or 71 million -- will pay no federal tax. Why is number so high? The answer lies in the myriad refundable tax breaks. And the number has risen since the enactment of the recent $787 billion stimulus package.

The great majority of households making under $30,000 fall into this category. Here is a breakdown by income:

Continue reading Half of Households Will Pay No Federal Income Tax

Half of Households Will Pay No Federal Income Tax originally appeared on BloggingStocks on Fri, 05 Mar 2010 12:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>income taxinthenewstax basetax breakstax cutsTax Policy CenterFri, 05 Mar 2010 12:00:00 EST<![CDATA[Tax Policy Center findings: TIF, WMT could gain, KSS, JCP hurt]]>http://www.bloggingstocks.com/2008/08/28/tax-policy-center-findings-tif-wmt-could-gain-kss-jcp-hurt/http://www.bloggingstocks.com/2008/08/28/tax-policy-center-findings-tif-wmt-could-gain-kss-jcp-hurt/http://www.bloggingstocks.com/2008/08/28/tax-policy-center-findings-tif-wmt-could-gain-kss-jcp-hurt/#commentsFiled under: , , ,

The following is a Q&A with Director of Zacks Equity Research Dirk van Dijk, CFA.

We're doing a rather last-minute interview here for publication Thursday morning (the 28th). What is on your mind to talk about?

Well, with the Democratic National Convention underway and therefore political season in full swing, lots of claims and counter claims will be made about taxes. Amid all the spin, careful analysis often gets lost. The Tax Policy Center (TPC), a non-partisan group, sat down with the top economic advisors for both campaigns and attempted to sort out just what the implications are from the proposals of each side would be.

And what is the verdict?

Well first of all, I strongly urge all readers who care about the long-term fiscal health of the U.S. Government to read the report.

But to my mind, given the massive size of the deficit this year and projected for next year, both McCain and Obama are being too "generous." Still, the charge of "tax and spend" is absurd if applied to either candidate, while the charge of "borrow and spend" is valid for both of them.

Continue reading Tax Policy Center findings: TIF, WMT could gain, KSS, JCP hurt

Tax Policy Center findings: TIF, WMT could gain, KSS, JCP hurt originally appeared on BloggingStocks on Thu, 28 Aug 2008 14:31:00 EST. Please see our terms for use of feeds.

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