4 ms·
This is already the case and has been for quite some time. The table depicted at the link is shows tax rates before deductions. Think of it as a "top line" or "
by next_xibalba 5y ago
This is already the case and has been for quite some time. The table depicted at the link is shows tax rates before deductions. Think of it as a "top line" or "nominal" tax rate. People making under $20k (and more) have an effective tax rate of $0 in the USA.
As Mitt Romney pointed out in 2012 [1]: "Forty-seven percent of Americans pay no income tax."
[1] https://www.politifact.com/factchecks/2012/sep/18/mitt-romney/romney-says-47-percent-americans-pay-no-income-tax/ https://www.politifact.com/factchecks/2012/sep/18/mitt-romne...
- modeless 5y agoWith the earned income tax credit, many people at that income level "pay" negative income tax.
- datavirtue 5y agoIt is often negative.