The Millionaires in the 47 Percent
By MICHAEL COOPER
When President Obama was asked Thursday afternoon at the Univision candidate forum about Mitt Romney’s now-famous surreptitiously videotaped remarks about the 47 percent of Americans who do not pay federal income taxes, the president said, as part of his answer, that “there are a whole bunch of millionaires who aren’t paying income taxes either.”
How many? There were about 7,000 filers who reported making more than $1 million but did not pay federal income tax in 2011, according to the Tax Policy Center. Overall, there were about 110,000 filers who reported more than $200,000 in income that year but did not pay federal income taxes.
