Chart shows low tax burden for rich
I was unable to attach the chart to this post so please click on the link below and take a minute to view the chart. “Blue areas represent a historically low tax burden for a specific income level, while red areas represent a historically high burden.”
The chart basically shows that despite the repeated claims from the lower taxes crowd that taxes are extra ordinarily high, and that the country is broke due to the pensions of greedy public workers like fire fighters, police officers and teachers, the tax burden on Americans is actually lower for the vast majority of Americans thank it has been 50 years.
The wealthy are being allowed to keep more of their money compared to any time in the last 100 years except for brief periods around 1930 and 1990. With this in mind it appears that our federal government’s shortage of funds may be due to the lack of funds being brought in by taxes and not solely public workers pensions, or over spending on social programs. The high cost of our military actions, and all other governmental costs have not been counteracted by the trickle down effect historically low tax rates over the last quarter of a century. Lower taxes have not caused the affluent to create new businesses and in turn new jobs at a rate that has any significant affect on our overall economy.
Basically the current tax rate is low compared to what it was durning the post WWII economic boom under Eisenhower, and even lower than it was during the Reagan Era. The lower taxes mantra reminds me of the concept of Manifest Destiny, no matter what gains its adherents achieve, the only acceptable next step is more, more tax cuts now, more land then, an insatiable appetitive for more that accepts no compromise.
No comments:
Post a Comment