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The myth of high taxes

This New York Times story has been out since last week, but it deserves to be held up again and again over the coming weeks and months.

“[Despite a widespread perception to the contrary]…most Americans in 2010 paid far less in total taxes — federal, state and local — than they would have paid 30 years ago. According to an analysis by The New York Times, the combination of all income taxes, sales taxes and property taxes took a smaller share of their income than it took from households with the same inflation-adjusted income in 1980.

Households earning more than $200,000 benefited from the largest percentage declines in total taxation as a share of income. Middle-income households benefited, too. More than 85 percent of households with earnings above $25,000 paid less in total taxes than comparable households in 1980.

Lower-income households, however, saved little or nothing. Many pay no federal income taxes, but they do pay a range of other levies, like federal payroll taxes, state sales taxes and local property taxes. Only about half of taxpaying households with incomes below $25,000 paid less in 2010.”

3 Comments

  1. Frank Burns

    December 3, 2012 at 1:20 pm

    Myth or not, there is no permission to raise our taxes. There better be real spending cuts before anybody even thinks about raising taxes.

  2. david esmay

    December 3, 2012 at 3:36 pm

    Frank your side lost in the election and the argument, get over it. Taxes are going up and cuts to defense, subsidies to big pharma, oil, and corporate agriculture are coming. The insane Republican joy ride to hell is over.

  3. Frances Jenkins

    December 4, 2012 at 6:09 pm

    No, they did not lose entirely, the House is controlled by Republicans and I think budget matters are birthed in the House. That is how Democracy works, David. You are such a mean spirited person.