Tea Party issues: Bailouts, Spending, Taxes, Big Government, Health Care Reform, Global Warming, Gun Control, Elections, etc...The Old South Meeting House is where the patriots met to plan the Boston Tea Party.
Wednesday, May 26, 2010
Report: 40% of NM filers owed no federal income tax
A new report from the Tax Foundation shows 40 percent of New Mexico tax-return filers last season racked up enough credits and deductions to end up owing the government nothing, putting the state at No. 4 for tax liability. The Washington, D.C.-based anti-tax group, in an analysis of Internal Revenue Service data, said Monday that of New Mexico’s nearly 924,000 filers for the 2008 tax year, about 372,000 – or 40 percent – turned up with no liability. That tally didn’t include residents whose income was below a threshold that requires filing a return. Nationwide, 51 million of the 143.5 million filers – or 36 percent – had no liability after counting up deductions and credits, the foundation reported...more
Frank DuBois served as the NM Secretary of Agriculture from 1988 to 2003. DuBois is a former legislative assistant to a U.S. Senator, a Deputy Assistant Secretary of Interior, and is the founder of the DuBois Rodeo Scholarship.