47% Will Pay No Federal Income Tax

[saden1]

Originally Posted by Schneed10

A combination of Bush's and Obama's. Bush's main structure is in place, but Obama's refundable credits are also in place allowing many to not only not pay any taxes, but to get additional refunds as well (making work pay, first time home-buyer, etc.).

I'm taking no political position here, just reporting the facts.

I should be clear, tax policy = tax structure. One time tax break in American Recovery and Reinvestment Act of 2009 v.s. Jobs and Growth Tax Relief Reconciliation Act of 2003 that is set to expire at the end of 2010.

In any case, Obama's turn will come and he has indicated he will continue Bush's tax policy for the most part (top income bracket will be ~39%). American people don't want to pay taxes and they're getting and will be getting what they want.