[Vision2020] Income Tax Burden Near Its All-Time Low

[Andreas Schou]

Roger --

Would you say that the top marginal tax rate was "exorbitant" under Reagan?

-- ACS

On Wed, Apr 22, 2009 at 10:23 AM, lfalen <lfalen at turbonet.com> wrote:

> Tom
> If you believe that taxes will not raise for those that make less than
> $250,00, I have a bridge I would like to sell you.
> You cannot impose an exorbitant tax and those that make a lot of money and
> maintain a vibrant economy. There are faults in our current market system.
> One of the main ones is the cyclic nature of the markets, fed in part by
> speculators. If some one was smart enough to figure out how to curb the
> unsustainable market highs with out imposing total government control it
> might help. For government to completely control the markets would be worse
> than what we have now.
> Roger
> -----Original message-----
> From: Tom Hansen thansen at moscow.com
> Date: Thu, 16 Apr 2009 05:51:38 -0700
> To: vision2020 at moscow.com
> Subject: [Vision2020] Income Tax Burden Near Its All-Time Low
>
> > 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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> >
> >
> >
> >
>
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