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To: GodAndCountryFirst
Americans paid the lowest tax rates in 30 years to the federal government in 2009

Revenues may be a lower percentage of GDP, but rates are higher than they were in 1988.

4 posted on 07/11/2012 9:05:14 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

They are higher than they were in 2007. I am not rich and my taxes have never been higher!


5 posted on 07/11/2012 9:08:14 PM PDT by GodAndCountryFirst
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To: Toddsterpatriot
Revenues may be a lower percentage of GDP, but rates are higher than they were in 1988.

The CBO data is based on taxes paid, divided by total income. It's independent of income adjustments, deductions, tax brackets, etc.

In 2009, the average tax rate for ALL federal taxes (personal income, corporate income, social insurance, and excise) was 17.4%. In 1988, it was 21.5%.

The average tax rate has hovered around 20-22% for the past three decades, until it dropped significantly the past two years. The biggest reason appears to be an over-dependence on the "rich" for income tax revenue. Their income is more sensitive to the economic cycle, and when it dropped significantly, so did tax revenues.

6 posted on 07/11/2012 9:20:11 PM PDT by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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