Overlooked was one big drawback for the nation’s finances: More people are likely to pay no income taxes at all.
According to the most recent IRS statistics, about 45 million households — a third of all filers — owed no federal income tax after taking their credits and deductions in 2006. This year, with the profusion of new credits in the stimulus package, about 65 million households — or 43 percent of all filers — are likely to owe no income taxes, according to a new analysis by the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution.
via Americans’ Tax Burden Near Historic Low – washingtonpost.com.