[Vision2020] Income Tax Burden Near Its All-Time Low
Donovan Arnold
donovanjarnold2005 at yahoo.com
Thu Apr 16 07:26:50 PDT 2009
Why is it that families making $60K pay only 3% of their income in taxes and I make less than half that and pay over 20%?
Oh, I know why, they have children and grandchildren that are expected to pay their share of the deficit, and I am expected to pay all of mine now, as I have no children to pass on the debt of my gluttonous lifestyle. .
Best Regards,
Donovan
--- On Thu, 4/16/09, Tom Hansen <thansen at moscow.com> wrote:
From: Tom Hansen <thansen at moscow.com>
Subject: [Vision2020] Income Tax Burden Near Its All-Time Low
To: vision2020 at moscow.com
Date: Thursday, April 16, 2009, 5:51 AM
Courtesy of today's (April 16, 2009) Spokesman Review.
------------------------------------------------------
Income tax burden near its all-time low
Gallup registers unusually favorable assessment of federal income taxes
Lori Montgomery / Washington Post
WASHINGTON – As thousands of anti-tax protesters rallied across the nation
Wednesday and the president promised tax cuts for most, new data showed
that the federal income tax burden is already hovering near its lowest
level in three decades for all but the wealthiest Americans.
The nonpartisan Congressional Budget Office estimates that the average
family forked over barely 9 percent of its earnings to the IRS in 2006,
the most recent year for which information is available. The effective tax
rate hit its all-time low in 2003 and has crept up only slightly since.
Middle-class families – to whom President Obama has delivered even more
tax relief since he took office in January – have fared especially well,
according to the CBO. The middle fifth of taxpayers, who earned an average
of $60,700 per household in 2006, paid just 3 percent in federal income
tax that year, down from a high of 8.3 percent in 1981.
With federal income taxes so low for so many families, a majority of those
surveyed by Gallup last week said the amount of federal income taxes they
pay is either “too low” or “about right,” compared with 46 percent who
said their tax bills are “too high” – one of the most positive assessments
of the federal tax burden since Gallup began asking the question in 1956.
Gallup analysts said the poll results may also reflect confidence in
Obama’s pledge not to raise taxes on families making less than $250,000 a
year, a vow he repeated Wednesday in a tax-day speech at the Old Executive
Office Building. Obama presented nine taxpayers who he said were better
off because of tax breaks enacted in the recent economic stimulus package,
including a tax credit for working families worth up to $800 this year.
Still, thousands of protesters marked the day federal income taxes were
due by attending hundreds of “tea parties” from Florida to Hawaii,
organizers said. The rallies were promoted by FreedomWorks, a conservative
nonprofit group led by Dick Armey, a lobbyist and Texas Republican who
once served as House majority leader.
In a pre-rally telephone interview from Atlanta, where he was preparing to
speak on the steps of the statehouse, Armey conceded that “the federal tax
rate right now is at a good level.” But, he said, “there are very few
people who believe Obama will be content to leave it at that.”
Armey said the real target of the protesters’ ire is not the current tax
rate but the much higher one that will be needed to pay for trillions of
dollars in financial-sector bailouts; the stimulus package, which is
projected to add nearly $800 billion to the federal debt over the next 10
years; and Obama’s ambitious health-care and education initiatives, which
are projected to raise the debt by trillions of dollars more.
“There’s no way he can do the spending he does and cut taxes for most
people,” Armey said. “People know that spending inevitably means more
taxes.”
The White House stuck to its own low-taxes message Wednesday, as Obama
repeated his “clear promise that families that earn less than $250,000
will not see their taxes increase by a single dime.” Asked whether Obama
is confident that he can stick to that pledge throughout his
administration, press secretary Robert Gibbs told reporters: “He is. He
is. He is.”
------------------------------------------------------
Seeya at the Wingding, Moscow.
Tom Hansen
Moscow, Idaho
Join us at The First Annual Intolerista Wingding, April 17th, featuring
Roy Zimmerman and Jeanne McHale. For details go to . . .
http://www.MoscowCares.com/Wingding
Seeya
there.
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