Taxes

Proportion of Americans Not Paying Federal Income Tax Shrinking as Tax Cuts Expire

At 43 percent, could reach just 1/3 by 2024

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That "47 percent" quote that helped sink Mitt Romney's presidential hopes? Better make that 43 percent now.

The share of households who aren't paying any federal income tax has fallen, and a new analysis from the Tax Policy Centerpredicts that it will continue to shrink in years to come.