The Fiscal Times Quotes Charles Ruchelman on Why More Affluent Americans Pay No Taxes
Charles M. Ruchelman is quoted by The Fiscal Times on why many high-income Americans owe no taxes due to the federal government's tax deduction system. Please go to The Fiscal Time's website for the full story.
Excerpt taken from the article.
Ruchelman says it's that growth that has caused the dramatic gain since 1977 in the number of affluent people who can zero out their taxes. "We've seen an increase in congressional social engineering through the code," he says. Many targeted breaks, like those for energy-efficient home improvements or college tuition tax incentives, benefit middle- and upper-income taxpayers, he says.