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Taxes reach historic low

Donc

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Well look what I found. In that bastion of socialism no less, SoCal. :2wave:


<While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.>


<For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>

Taxes reach historic low - News - The Orange County Register
 
Well look what I found. In that bastion of socialism no less, SoCal. :2wave:


<While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.>


<For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>

Taxes reach historic low - News - The Orange County Register

what was the average tax rate on the top one percent for our country's history?
 
Well look what I found. In that bastion of socialism no less, SoCal. :2wave:


<While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.>


<For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>

Taxes reach historic low - News - The Orange County Register

Error post: Wrong froum
 
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What does this question have to do with the OP?

Because the wealthiest Americans pay way more in taxes than the ops family example would. And that is who Obama is targeting, the job creators. I can't speak for anyone else, but I've never signed employment papers for anyone worth less than 2 million dollars. That would be those top income earners Obama wants to tax the **** out of.

Its very misleading to talk about tax rates being low for a bracket that pays very little tax as a whole. So rather than duck the question, why not answer it?
 
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What does this question have to do with the OP?

duh-historic lows were for most of our country's history. the tax rates today are hardly historic lows
 
Well look what I found. In that bastion of socialism no less, SoCal. :2wave:


<While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.>


<For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>

Taxes reach historic low - News - The Orange County Register

It isn’t like this is new news. When the Bush tax cuts were passed republicans were trumpeting pretty much the same thing. They were proudly claiming that they had given us the “biggest tax cuts in a generation” etc.

I think we need to raise taxes as part of the solution to our debt crisis and I don’t agree with republicans who buy into the 20% of GDP max tax concept. Even the Laffer Curve (basis of Reganomics) has a 70% revenue max. We can and should bring in more revenue and cut the spending.

We are addicted to spending money we don’t have and we have somehow let the politicians convince us that recessions should never happen. Breaking news: recessions are necessary and printing money so that we can spend more money might make the pain of recession go away for now but it will result in absolute disaster down the road. We need to embrace the recession, cut spending, raise taxes and cut government regulations.
 
Its very misleading to talk about tax rates being low for a bracket that pays very little tax as a whole. So rather than duck the question, why not answer it?


Do you disagree with this statement in the OP?
For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955,

Take note of the bolded part.
 
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Depends on what part of your timeline qualifies as "historic."

having studied all eras of the US-from pre-columbus to the break from England to current (well 1981 was the last history class I took though I did take a graduate course several years later on american labor history) I meant from the founding of the republic to current america
 
(smile) Hmmm, they are talking about Tax Revenues....;)

Those lower taxes have helped give the U.S. government the lowest revenues as a percentage of gross domestic product of seven industrialized countries surveyed in 2010 by the Congressional Research Services. (The other countries were Japan, Canada, the United Kingdom, Germany, Italy and France.) The U.S. also had the lowest spending as a percentage of the GDP.

Can you tell us why that would be...or do you prefer to toe the Party Line?
 
Do you disagree with this statement in the OP?

Take note of the bolded part.

I know you weren't asking me but I would like to answer if I may.

No. I don’t believe it and I don’t refute it. Not until I see how the numbers were derived. The article makes a lot of statistical claims but does not provide a single source or method of calculating such numbers.
 
Well look what I found. In that bastion of socialism no less, SoCal. :2wave:


<While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.>


<For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>

Taxes reach historic low - News - The Orange County Register

Ever hear of the earned income credit?
 
what was the average tax rate on the top one percent for our country's history?
Apparently around 59% for the years 1913 to 2011
http://www.taxpolicycenter.org/taxfacts/Content/Excel/toprate_historical.xls

apparently, there were four years with lower rates 1913 - 1916

here a graph from a different place with the similar info
top-rates-graph.php

http://www.truthandpolitics.org/proposal.php
 
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It isn’t like this is new news. When the Bush tax cuts were passed republicans were trumpeting pretty much the same thing. They were proudly claiming that they had given us the “biggest tax cuts in a generation” etc.

I think we need to raise taxes as part of the solution to our debt crisis and I don’t agree with republicans who buy into the 20% of GDP max tax concept. Even the Laffer Curve (basis of Reganomics) has a 70% revenue max. We can and should bring in more revenue and cut the spending.

We are addicted to spending money we don’t have and we have somehow let the politicians convince us that recessions should never happen. Breaking news: recessions are necessary and printing money so that we can spend more money might make the pain of recession go away for now but it will result in absolute disaster down the road. We need to embrace the recession, cut spending, raise taxes and cut government regulations.

It seems that are for getting rid of all the bush tax cuts. Good start that would bring in about $4 trillion over 10 years. We would still increase the national debt by 7-10 trillion under the budget proposed by obama, but a good start.
 
Apparently around 59% for the years 1913 to 2011
http://www.taxpolicycenter.org/taxfacts/Content/Excel/toprate_historical.xls

apparently, there were four years with lower rates 1913 - 1916

here a graph from a different place with the similar info
top-rates-graph.php

TruthAndPolitics.org: A Proposal (TruthAndPolitics.org)

You can't answer turtle's question with that graph.
1) The top marginal rate isn't the average tax rate of the bracket it encompasses.
2) The top marginal rate had different thresholds for all those years.

It's a very difficult question to answer, even 1912 on. You'd have to find the average tax rate for each year for the top 1%, who fell into a different income bracket each year.
 
It seems that are for getting rid of all the bush tax cuts. Good start that would bring in about $4 trillion over 10 years. We would still increase the national debt by 7-10 trillion under the budget proposed by obama, but a good start.

Revenue will increase by $4 trillion over 10 years if the Bush tax cuts are ended? Where do you get that number?

Obama plan is a terrible plan. He wants to increase spending, not cut spending. Not sure where you get the $7-10 trillion number either. Obama doesn’t have a real budget yet and he hasn’t said what his numbers are when he says we need to “invest” (code for spend) in everything under the sun.
 
You can't answer turtle's question with that graph.
1) The top marginal rate isn't the average tax rate of the bracket it encompasses.
2) The top marginal rate had different thresholds for all those years.

It's a very difficult question to answer, even 1912 on. You'd have to find the average tax rate for each year for the top 1%, who fell into a different income bracket each year.
Try this one
http://www.irs.gov/pub/irs-soi/05in05tr.xls

For 86 through 05 the answers seems to be about 26.4%

But this is just federal
 
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<For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>
  1. <For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center.>
    Not surprising given that those above that median now pay what, 97% of the income tax now? Yes, maybe the income tax has become too progressive.
  2. <All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation.>
    In other words, we're in a major recession, and those with the higher incomes and tax rates were hit the hardest.
  3. <The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>
    It's common knowledge that the current high-income bracket is lower than when Clinton raised it in 1993. Any comparison to the 70's and 80's is ridiculous unless you examine tax expenditures, loopholes, income thresholds, etc.
 
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The government already rapes corporations with taxes bad enough that taxes should be at an all time low, unless you're GE of course.
 
The government already rapes corporations with taxes bad enough that taxes should be at an all time low, unless you're GE of course.

Except 2/3 of corporations dont pay their taxes.....
 
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