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Analysis Finds U.S. Tax Burden Lowest Since 1958Bureau of Economic Analysis data shows that Americans are now paying 23.6 percent of their income to cover federal, state and local taxes. The tax burden facing Americans is lower than it has been in more than 50 years, according to an analysis by USA Today.
Bureau of Economic Analysis data shows that Americans are now paying 23.6 percent of their income to cover federal, state and local taxes. In the 1970s through 1990s, they were paying about 27 percent of their income in taxes. Taxing at that rate today, USA Today reports, "would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year." The tax burden fell most recently thanks to a cut in Social Security taxes as part of December's budget compromise which saves taxpayers $2,000 per year on $100,000 in income. Republicans say they will not accept tax increases of any kind to address the massive federal deficit and debt, and they insisted in extending the Bush-era tax cuts for the highest-earners as part of the December budget deal. The budget plan passed by the Republican-led House this year includes further cuts to tax rates for the wealthiest Americans.The national debt stands at 14.334 trillion. |
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olddg said on Friday, May 6 at 6:16 PM
I will bet that the oil company,s can make those same figures say that gas is cheep and they are going broke
66622061Steven said on Friday, May 6 at 5:22 PM
We ran a $4.1 Trillion dollar debt this year.We have 140 million people working in the United States out of 310 million people. $4.1 Trillion divided by 140 million people who actually work and pay some taxes equals $30,000.00 thousand dollars. The average wage in the United States is $43,460.00. It is NOT $100,000.00 thousand dollars. The government has spent almost 75 percent of your paycheck this year. Ben Bernanke or Helicopter Ben Prints 70 Billion Dollars of funny money every month to buy this debt. The big lie being told here is.....They can't tax you for the full amount they spent this year. If they did....you would be living on the street begging for food. Can you live on $10,000.00 a year? The second problem would be all the stores closing down and firing millions of employees, when everyone quit shopping and started to pay down this debt for this year. Search www.usdebtclock.org This country has 128 Trillion dollars of on and off the book debt. $1,145,000.00 each taxpayr
66619332Steven said on Friday, May 6 at 5:02 PM
That was the name for the last comment on the government debt.
66618322Anonymous said on Friday, May 6 at 5:01 PM
Did the same guy question the $4.1 Trillion Dollars that the government spent this year? We have 140 million United States citizens that work out of 310 million people in the United States. Divide $4.1 Trillion by 140 million people. It is just shy of $30,000.00 thousand dollars. The average wage in the United states of those who actually work is $43,460.00. The government spent almost 75 Percent of your check this year. This misinformed analysis doesn't take into account that the government isn't taxing you for what they spend anymore. They have Helicopter Ben Bernanke printing 70 Trillion Dollars of funny money every month to buy up this debt. If they actually taxed you for what they were spending....you would be living on the street. All of the stores would close, from lack of customers spending the money they ended up giving to the government, to pay for their incessant spending habits. Search www.usdebtclock.org It has all the answers. 128 Trillion dollars of debt.
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