Taxes

11:05am

Mon April 16, 2012
The Picture Show

You're Not Alone: Taxpayers Have Been Miserable For Decades

Alfred Eisenstaedt Time & Life Pictures/Getty Images

Misery loves company. Multitudes are no doubt making the last-minute scramble to finish taxes today. If that's the case for you, perhaps you can take solace in the fact that this tax misery is a long-lived American tradition.

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3:36pm

Sun April 15, 2012
Your Money

The Tax Man Cometh! But For Whom?

Originally published on Sun April 15, 2012 7:30 pm

In the U.S., the top 10 percent of income earners pay 70 percent of all federal income taxes.
iStockphoto.com

It's that time of year again – tax week.

With the deadline for Americans to file their income taxes looming, there's a good chance you've heard or will hear from politicians, on cable news and on talk radio about those who pay little or no taxes.

House Majority Leader Eric Cantor has said that we "have a situation in this country where you're nearing 50 percent of people who don't even pay income taxes." There are even those who say that there are nearly 50 percent of Americans who pay no taxes at all.

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10:25am

Fri April 13, 2012
The Two-Way

Tax Procrastinators Have Until Tuesday

Originally published on Fri April 13, 2012 10:26 am

Still haven't filed your federal income tax return?

Since you may be a procrastinator, you may not have looked at the calendar lately. So we want to make sure you know that Sunday is April 15th.

But you also might not have realized that this year the deadline is the 17th.

Why?

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9:21am

Fri April 13, 2012
Planet Money

What America Pays In Taxes

Originally published on Mon May 7, 2012 2:26 pm

Lam Thuy Vo / NPR
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8:58am

Fri April 13, 2012
The Two-Way

Obamas And Bidens Release 2011 Tax Returns

The White House just posted word that President Obama and first lady Michelle Obama filed 2011 tax returns showing an "adjusted gross income of $789,674" and that they paid "$162,074 in total [federal] tax." That works out to about 20.5 percent of the AGI.

About half of the first family's income was from the president's salary. The rest came from royalties generated by his books. According to the White House:

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