44 million tax filers with no income tax liability? [View All]

[raccoon]

“Strangely enough, government statistics show that the U.S. tax system is already evolving into one in which a majority of Americans pay little or nothing. Between 1999 and 2006, evidence suggests that the number of tax filers who had no income tax liability after taking advantage of credits and deductions grew to nearly 44 million, according to the Tax Foundation, a nonpartisan (but right-leaning) think tank in Washington, D.C., and Duke University law professor Lawrence Zelenak.”

http://articles.moneycentral.msn.com/Investing/SuperModels/WhyWallStreetIsScaredOfObama.aspx


If this is true, what it suggests to me is that there are a large number of tax filers who make crappy wages (No shit, Sherlock.) I know the rich get a lot of credits and deductions, but no way are there 44 million rich people in the US.

Your thoughts?