New staggering statistics show that in 2009, almost 1,500 millionaires didn’t pay any income tax.

An IRS report, detailing each year’s tax items from 2005 to 2009, shows that in the last year of the report, 1,470 of America’s wealthiest didn’t have to pay a cent in income taxes.

ABC News  investigated how these millionaires got away with it.   The report shows that, “they were probably donating to charity, investing in local and state government bonds and making most of their money overseas.”

The article also suggests that millionaires may also be earning non-taxable income from interest. 

The wealthy aren’t the only one’s not paying income tax, though. According to the Tax Policy Center, about 46% of American homes won’t pay federal income tax in 2011 either. The report says most of these households are made up of low income families, working families with children, and other exemptions. You can read that full report here.

So, where does America go from here?  According to ABC News, Republican Presidential Candidate Michele Bachman, “said she would revamp the tax code if elected by lowering overall tax rates and getting ‘rid of all reductions’…”  The article also says GOP Presidential Candidate, Tim Pawlenty, suggested eliminated the “death tax,” and cut interest income taxes and dividends taxes.

We want to hear your reactions. What should America do about so many people avoiding income tax. Should they be allowed to continue, or should there be policies in place to enforce their payments?