Tax Cuts For The Rich?

clipped from blog.american.com The Tax Foundation reported last week that more than 143 million individual income tax returns were filed in 2007, and 46.6 million of those returns had a zero or negative tax liability, setting a new record for the number of “non-payers.” There were an additional 15 million people in 2007 who did not earn enough income to file a tax return, bringing the total number of Americans who paid no federal income taxes to more than 61 million, or 39 percent of the tax-eligible population (158 million including filers plus non-filers). What are the implications of a rising number and percentage of “non-payers”? 1. American Enterprise Institute economist Alan Viard commented on Fox News that “there’s concern that when you have so many people not paying the most visible tax—the individual income tax—you might lose a certain check that otherwise would be in place on government spending.” 2. It also means that the burden of income taxes is falling on a shrinking percentage of income tax filers