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Tax burden shifts as more upper incomes pay taxes
A congressional study shows 48 million Americans owe no federal income tax in 1998 due to the new child tax credit, while those earning over $40,000 pay 96 percent of income taxes. The report notes higher earners shoulder a growing share, with potential reform discussions including across the board cuts and Social Security reform links.
MENTIONED IN THIS ARTICLE
Washington
Congressional
Joint Committee On Taxation
II Archer
R-Texs
Tax-Wiring House
Ways and Means Committee
Internal Revenue Service
Archer