10 Common Tax Myths, Debunked

Tax Foundation
Contact Your Elected Officials

What You’ll Learn

  1. Identify some of the most common tax policy misconceptions and how to separate fact from fiction.
  2. Discover why tax refunds shouldn’t be celebrated, why you should pay your income tax bill, and why certain deductions are wrongly labeled “loopholes,” among other useful facts.
  3. Improve your ability to counter misleading arguments about the tax code.

Common Myths

  • Myth 1: The rich don’t pay any taxes in the U.S.
  • Myth 2: U.S. income taxes on the rich were much higher in the 1950s.
  • Myth 3: There’s no U.S. law requiring you to pay income tax.
  • Myth 4: A large tax refund is cause for celebration.
  • Myth 5: The state and local tax deduction (SALT) protects against double taxation.
  • Myth 6: Major corporations pay no tax.
  • Myth 7: Business taxes only affect business owners.
  • Myth 8: Expensing is a loophole.
  • Myth 9: Tax cuts pay for themselves.
  • Myth 10: Other countries pay tariffs.
CommonMyths1

They're indoctrinating our kids in Critical Race Theory in public schools, and now were suppose to let them mold their beliefs in daycare?