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Closing the Deficit, Nonpayers, and Other Income Tax Topics
Posted on Apr 5, 2010

 

 

Scott Hodge, President of the Tax Foundation, appeared on The Dave Nemo Show on April 6, 2010 to discuss some important--and astounding--issues that affect the everyday American.

Can Federal Income Tax hikes close the deficit?  According to a recent study by the Tax Foundation, rates would have to more than double!  Read more here.

And did you know a record number of Americans paid no Federal Income Tax in 2008?  We're not talking about those people who have had taxes taken out of their paychecks and receive a refund--we're talking about over 50 million people who filed returns that resulted in nonpayment due to legal credits and deductions.  Click here to learn more about this Tax Foundation study.

And if you're surprised by these issues, you might also be surprised to learn that this year Americans will work for over three months before they've earned enough to pay taxes.  The Tax Foundation has calculated this year's Tax Freedom Day to be April 9, 2010.  Read more about it!




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