1,470 Millionaires Didn't Pay Income Taxes in 2009 - IRS

This really is beginning to look more and more like Greece...

1,470 Millionaires Didn't Pay Income Taxes in 2009

The IRS data showed there were 235,413 taxpayers making $1 million or more in 2009, of whom 1,470 paid no federal income taxes. Among the possible reasons, according to ABC News, could be write-offs for charitable deductions, investments in tax-exempt state and municipal bonds, or foreign tax credits.

In contrast, the average income for taxpayers fell that year in the wake of the financial crisis by $3,516 to $54,283, a drop of approximately 6.1 percent, according to the Huffington Post. 

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1,470 Millionaires Didn't Pay Income Taxes in 2009 http://t.co/HKNcuCq

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