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posted by avenger in In The News

Most Americans Pay Less Taxes Since 1980

November 30, 2012

According to the New York Times, most American face lower tax burdens than in the Reagan '80s. They paid far less in total taxes – federal, state, and local – than they would have paid 30 years ago. According to an analysis, the combination of all income taxes, sales taxes and property taxes took a smaller share or their incomes than it took from households with the same inflation-adjusted income in 1980.

Household earning more than $200,000 benefited from the largest percentage declines in total taxation as a share of income. Lower-income households, however, saved little or nothing.

Over $350,000 in 1980 - 49% in 2010 - 42%

$200,000 - $350,000 in 1980 - 43% in 2010 - 38%

$150,000 - $200,000 in 1980 - 38% in 2010 - 34%

$125,000 - $150,000 in 1980 - 36% in 2010 - 33%

$100,000 - $125,000 in 1980 - 35% in 2010 - 32%

$ 75,000 - $100,000 in 1980 - 33% in 2010 - 30%

$ 50,000 - $ 75,000 in 1980 - 30% in 2010 - 28%

$ 25,000 - $ 50,000 in 1980 - 26% in 2010 - 24%

Under $25,000 in 1980 - 20% in 2010 - 19%

(Friday, Nov. 30, 2012)

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