Federal Income Taxes on Middle-Income Families Remain Near Historic Lows

Dear Tax-Dodging Dirt-Bags,

Quit waving the flag, and pay your taxes. Quit making heroes out of tax dodgers, just because they have cowboy hats. Quit talking about your freedoms being taken away from you. They aren’t. And quit spouting nonsense about how taxing the rich will cause them to invest less, and hire fewer people. It does not work that way, and never has. You were being conned by folks who are real good at it. Pay your taxes and shut up.

 

Federal income taxes on middle-income families have declined significantly in recent decades.  In 1998-2000, the years before the 2001 tax cut enacted by President Bush and Congress, the median-income family of four paid roughly 8.0 percent of its income in individual income taxes, according to TPC estimates — a smaller share than in any year since 1967.  The Bush tax cuts further reduced taxes for middle-income taxpayers, and the 2012 “fiscal cliff” bill the American Taxpayer Relief Act made these middle-income tax cuts permanent.  TPC estimates that the median-income family of four paid 5.3 percent of its 2013 income in federal income taxes when it filed its return this year.

via Federal Income Taxes on Middle-Income Families Remain Near Historic Lows — Center on Budget and Policy Priorities.

Speak!