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Qtec
06-08-2011, 11:50 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style='font-size: 14pt'>Americans are paying the smallest share of their income for taxes since 1958</span>, a reflection of tax cuts and a weak economy, a USA TODAY analysis finds.


The total tax burden for all federal, state and local taxes dropped to 23.6% of income in the first quarter, according to Bureau of Economic Analysis data.

By contrast, individuals spent roughly 27% of income on taxes in the 1970s, 1980s and the 1990s a rate that would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year.

The analysis comes as President Obama and Congress debate whether to cut federal spending, raise taxes or both.

The latest dip in the tax burden came from a Social Security tax cut included in a December budget deal between Democrats and Republicans. It will reduce taxes $100 billion this year. </div></div>

link (http://www.usatoday.com/money/perfi/taxes/2011-05-05-tax-cut-record-low_n.htm)


....and the GOP want to..............cut taxes.

Q

Gayle in MD
06-09-2011, 03:04 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style='font-size: 14pt'>Americans are paying the smallest share of their income for taxes since 1958</span>, a reflection of tax cuts and a weak economy, a USA TODAY analysis finds.


The total tax burden for all federal, state and local taxes dropped to 23.6% of income in the first quarter, according to Bureau of Economic Analysis data.

By contrast, individuals spent roughly 27% of income on taxes in the 1970s, 1980s and the 1990s a rate that would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year.

The analysis comes as President Obama and Congress debate whether to cut federal spending, raise taxes or both.

The latest dip in the tax burden came from a Social Security tax cut included in a December budget deal between Democrats and Republicans. It will reduce taxes $100 billion this year. </div></div>

link (http://www.usatoday.com/money/perfi/taxes/2011-05-05-tax-cut-record-low_n.htm)


....and the GOP want to..............cut taxes.

Q </div></div>

If we don't get rid of Repigs in the next election, it's going to be very bad.

LWW
06-09-2011, 04:10 AM
And with the 1950's rate we conducted the Marshall Plan, began the space race, stood down the USSR, funded the interstate highway system, promoted peace and prosperity, and was paying down the WWII debt.

And your point is what?

Other than the taxpayer should be ever more punished for the state's stupidity.