Detailed text transcripts for TV channel - CNN - 20110418:21:13:00
Gone to the moon and back. what's more, according to the tax policy center, 45% of u.s. households, a total of 69 million households, pay no federal income tax, nada. in fairness, most of the 69 million households pay other taxes, state and local income tax, property tax, sales tax. two-thirds of that group pay payroll tax as well. most of households in that group that doesn't pay federal income tax earn less than 50,000 a year. but about 5 million of those 69 million, they make between 50,000 and a million dollars a year. the secret is in the tax breaks. on everything from having a child to g...