Since I’m looking at household statistics, here’s some more numbers that made me stop.
According to Justin Fox, Time, Nov. 10, 2008: There is a segment of households called “lucky duckies” who pay no federal income tax. That’s because they make less than $40,000 and qualify for credits added to the tax code. Lucky? hmmm. I wonder if they consider themselves so?
The number of that class = 45.6 million households, or one-third of all income tax filers (according to the Tax Foundation). Because of proposed tax cuts and credits, that number will rise to 63 million households by April 2009. And what was the number of households estimated in the previous post? 112,362,848. About half the households make less than $40,000.