ProgressiveTax

By law, the thresholds for the marginal federal income tax brackets must change each year to keep pace with inflation. For 2009, those brackets are as follows: Taxpayers Filing as Single: 10% on taxable income between $0 and $8,350 15% on taxable income between $8,350 and $33,950; plus...

A new report from the nonpartisan Tax Policy Center finds that roughly 47% of households won't end up owing any federal incomes taxes for the year 2009. Most households earning less than $30,000 per year fall into this category, as do nearly half of those earnings between $30,000 and $40,000. Some...