As President Barack Obama pushes to raise income taxes on high earners, opponents are seizing on data that indicates these U.S. households already pay a large and growing share of taxes, even compared with high-tax European countries. And a new congressional study concludes that the percentage of U.S. households owing no federal income tax climbed to 51% for 2009.
Republicans are expected to highlight these figures at a congressional hearing Tuesday. They oppose Mr. Obama's proposal to increase taxes for high earners, defined as families making more than $250,000 per year, as a way to help close large federal budget deficits
"Most taxpayers are skeptical that the answer to our fiscal problems is for them to sacrifice more, when more than half of all households are not paying any income taxes and an increasingly smaller group of Americans is shouldering the burdens for an increasing larger group of Americans," said Sen. Orrin Hatch of Utah, the top Republican on the Senate Finance Committee.
Tuesday, May 03, 2011
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