Tax bills at the lowest level since 1950

[Mr Natural]

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

Obviously not, the economy failed in spite of the cuts. On the other hand, the economy prospered in the face of the Clinton tax hikes in the 90's.

Does factual reality matter at all?

Not to the terminally stupid and easily duped.

 

[boedicca]

Here's the money shot:

Taxes paid have fallen much faster than income in this recession. Personal income fell 2% last year. Taxes paid dropped 23%. The BEA classifies Social Security taxes as insurance payments and excludes them from the tax calculation.

(snip)

• Sales tax. Consumers cut spending sharply in this downturn, thereby paying less in sales taxes.

People are earning less and spending less money. When people earn less, they pay less taxes. It's also specious to exclude SS and Medicare from taxation. One of the rationales behind the progressive income tax code is that The Poor pay SS and Medicare.

This article is just the result of some PR spin by the Obama Administration to soften everyone one for VAT because we just aren't paying enough taxes.

 

[Biggles]

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

Bogus.

 

[Chris]

This article lacks substance and is obviously biased. The writer does not get into any real details as to why the "tax bill" was so low. I am no economist, but I am willing to bet the following:

Property tax has fallen due to Americans losing or selling thier homes and are now renting therefore substantially reducing or even eliminating thier property tax burden.

Sales tax (was actually addressed in the article) has fallen due to Americans saving thier money vice spending it at Walmart. A majority of stores are slashing prices and offering great sales in order to attract consumers; which then lowers the amount of tax taken per purchase.

The income tax burden has been reduced due to tax cuts and a decrease in income of some Americans. Those tax cuts have come from both Republicans and Democrats.

Reagan and the two Bushes created 92% of the National Debt by lowering taxes for the rich.

Are you serious?! Can you provide a non-biased source for this comment? Are you capable of thinking on your own or do you always say what your liberal politicians tell you to say? The working American public could only sustain the federal government's New Deal era entitlement programs for so long! The federal government has been over spending for decades and Americans have grown lazy and greedy and together are to blame for our national debt and our current economic crisis! A portion of Americans and our entire government is at fault, not just the Republicans or the Democrats! We have been on a collision course with an economic melt down since the 1930s! With the increase in Health Care entitlement programs, the US is now spending low to mid 40% of the GDP on Government run programs alone! That figure is unsustainable; just ask Greece (43% of GDP)! A large national debt is the bi-product of any nanny state!

I am dead serious. Reagan and the two Bushes are responsible for 92% of the National Debt.

Click on the link below and then click on the links to the U.S. Treasury website....

ReaganBushDebt.org