Forget 47 percent — Only 1 in 7 would face levy with 1st system
If the U.S. had the same income tax rules it did when the levy started 100 years ago, 86 percent of households would be exempt from paying it. That figure, according to data compiled by Bloomberg, far outpaces the 47 percent estimate for nonpayers cited in last year's presidential campaign. The first levy, adjusted for inflation, would only affect individuals with taxable incomes of more than $69,574 a year.
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