Your Taxes Are Most Likely Lower Than In The ’80’s

Posted by | November 30, 2012 11:31 | Filed under: Top Stories


If you’re bitching about a possible increase in the top tax rate, you had much more to complain about in the ’80’s.

…most 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.

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

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