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The myth of high taxes

Posted By Rob Schofield On December 3, 2012 @ 9:25 am In Uncategorized | Comments Disabled

This New York Times story [1] 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.”

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URL to article: http://pulse.ncpolicywatch.org/2012/12/03/the-myth-of-high-taxes/

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[1] This New York Times story: http://www.nytimes.com/2012/11/30/us/most-americans-face-lower-tax-burden-than-in-the-80s.html?hp&_r=1&

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