While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.The rich in America are paying an even smaller effective tax rate percentage than the middle class and many of the largest corporations in America are paying no taxes at all. So why are we cutting taxes on the rich and cutting services to the poor and middle class?
For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it’s well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.
Monday, April 18, 2011
Taxed Enough Already? Hardly.
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Current Events,
Politics
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