I’m getting really tired of these right-wing corporation kissers who are demanding MORE TAX CUTS when we are already taxing less as a percentage of GDP than we have since 1950 (and if you remember at that point, the upper 1% of rich Americans was being taxed close to 90%).
The Bureau of Economic Analysis (BCA) puts it this way in it’s report:
Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8% of income before rising slightly in the first three months of 2010.
A. If we are going to cut expenses let’s bring home the troops and cut the military…
Of course, we are going to see the Republicans hang on to the Paul Ryan plan because they have all but married it. Don’t expect changes from the House then. And hope that Obama and the Senate don’t knuckle under. Just get us to the 2012 elections and eject the idiots who have made the House the non-voice of the people.
- The New GDP Data Is Bad. The Hidden Data Behind It Is Worse (freakonomics.com)
- You Think You’re Paying Too Much In Taxes? (mint.com)
- New GDP Data: There’s Bad News, Hidden in the Details (economistsview.typepad.com)
- N.J. slips to third in nation for personal income (nj.com)
- U.S. tax burden at lowest level since ’58 (usatoday.com)
- Modest growth forecast for Tennessee economy (knoxnews.com)