Monday, April 20, 2009

Federal Tax Burdens for Most Near Their Lowest Levels in Decades

Two Final Words on Taxes: Low and Fair | OurFuture.org
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Here’s a headline from the Center on Budget and Policy Priorities: Federal Tax Burdens for Most Near Their Lowest Levels in Decades. The report explains that the median-income family of four paid only 5.9 percent of its income in federal individual income taxes in 2007 (the last year for which data is available), a level that is low compared to the past 50 years. This CBPP chart says it all:

CBPP_chart.jpg

Hmmm, are the “teabaggers” crazy? Yes! Because not only are Americans paying lower taxes, they are happier with the tax system.

According to a recent Gallup Poll, “48 percent of Americans say that the amount of federal income tax they pay is ‘about right,’ with 46 percent saying ‘too high’—one of the most positive assessments Gallup has measured since 1956.” Over the past half-century, about 60 percent have usually said that taxes are “too high.”

More important than that finding, nearly two-thirds of Americans currently believe that the income tax they have to pay this year is fair.

Gallup_chart.gif

Gallup concludes:

Gallup finds Americans' views of their federal income taxes about as positive as at any point in the last 60 years. This may reflect the income-tax cut that was part of the $787 billion economic stimulus plan, as well as a continuing sense of patriotism with the country fighting two wars.

That’s not to say that Americans like to pay taxes. They don’t. But perhaps lawmakers and the media should get a grip. There are certainly some revolting taxpayers, but politically, there is no tax revolt. ...

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