Tax bills at the lowest level since 1950

Discussion in 'Economy' started by Chris, May 11, 2010.

  1. Chris
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    Chris Gold Member

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    Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found.
    Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels.

    Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010.

    Tax bills in 2009 at lowest level since 1950 - USATODAY.com
     
  2. Tom Clancy
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    Tom Clancy Clancy for Ron Paul

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    So I'm guessing we should Increase em?

    What's your point here Nancy?
     
  3. Chris
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    Chris Gold Member

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    Raise the top rate back to the level it was before.

    Reagan and the two Bushes created 92% of the National Debt by lowering taxes for the rich.
     
  4. Tom Clancy
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    Tom Clancy Clancy for Ron Paul

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    So... Tax the Rich? To create what? I Single Class? or what..

    Giving Tax Breaks to the Rich created Prosperity for them to Invest and Create Small Businesses did it not?

    Instead of Taxing someone based on their Income why not create a Flat tax for everyone?

    In other words.. the Income Tax is a joke.
     
  5. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    I'm amazed at how you seem to think people are going to simply believe you when they can just look at their paychecks and see exactly what they pay in taxes.
     
  6. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Please don't confuse the teabaggers....they know what they know
     
  7. Skull Pilot
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    Skull Pilot Platinum Member

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    You guys always seem to forget this part of the equation.
     
  8. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Our last round of tax cuts added $2.5 trillion to the deficit and sent jobs overseas. Trickle down is a farce.....let the wealthy pay at previous tax rates and use the money to pay down the deficit
     
  9. Skull Pilot
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    Skull Pilot Platinum Member

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    FYI that increase would not put even a microscopic dent in the deficit and even less of one in the debt.
     
  10. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Progressive taxation commits harakiri, done in by squeezing people at the top. When the economy tanks, the people that pay the most see the biggest decline in their tax bill and that's what's cause the stupid, pointless, meaningless chart and OP
     

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