Tax Break

David Cay Johnston on how the well-to-do can pay no taxes

June 21, 2012

In this video Reuters tax columnist David Cay Johnston interprets some of what we know — and don’t know – about the wealthiest Americans and their taxes.

Tax fairness has been a hot topic this year.

An IRS analysis shows that of the 3,975,288 tax returns reporting income of $200,000 or more for 2009, 35,061 had no U.S. income tax liability at all.

Another IRS report looks at the 400 very highest incomes and finds that a handful of this group also hit the tax-free list.

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