Analysis: Widely quoted tax statistic tells only part of the story

04/14/2010 | New York Times (tiered subscription model), The

One statistic getting a lot of attention as the tax-return deadline approaches is that 47% of U.S. families do not owe income taxes for 2009. While that is literally true, the number is only part of the story, according to The New York Times. At most, 10% of households do not pay net federal taxes, according to the Congressional Budget Office. About three-quarters of households pay more in payroll taxes than income taxes.

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New York Times (tiered subscription model), The

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