Tuesday, May 11, 2010

While Teabaggers Whine, Taxes Fall

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

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.

"The idea that taxes are high right now is pretty
much nuts,"...


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