06-15-2008, 11:48 PM
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Administrator
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How The Rich Avoid Paying Any Income Taxes
Death is inevitable, but federal income taxes aren't for an increased number of high-income earners.
New IRS statistics show 7,389 federal tax returns with $200,000 or more in adjusted gross income reported no federal income taxes in 2005. That's a 161% jump from the 2,833 comparable returns filed in 2004.
Additionally, 4,224 of the over-$200,000 earners reported no worldwide income tax liability on their 2005 returns, the IRS data show. That represents a 75% increase from the 2,420 comparable returns filed in 2004...
ABC News: They Earn $200,000 and Pay No Taxes
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