Outrage of the day

From Bloomberg:

There were 10,080 households with adjusted gross income of at least $200,000 annually, or 0.26 percent of high earners, who paid no income taxes in the U.S. or to other countries. Using an expanded concept of income that includes some nontaxable items and looking only at U.S. income taxes, there were 35,061 households, or 0.88 percent, that paid nothing.

Methods of avoidance include tax-exempt interest and deductible charitable contributions.


More by Mark Lacter:
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Should Twitter be valued at $18 billion?
Recent Taxes stories:
Is Proposition 13 Gov. Brown's next target?
Another terrible day for stocks
Obama digs in on higher taxes for the wealthy
Brown's tax initiative getting hit on several fronts*
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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