Complaints Aside, Most Face Lower Tax Burden Than in 1980Breaking News
...[M]ost 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....
comments powered by Disqus
- Historian Allan Lichtman who’s predicted 30 years of presidential elections correctly is doubling down on a Trump win
- National Book Award semifinalist Heather Ann Thompson says the war on crime started with LBJ
- David McCullough's next book will focus on generations of Northwest pioneers
- British historian Sheila Lecoeur is on trial for defamation
- Jim Downs laments that Americans still aren’t being taught LGBT history