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Politics : American Presidential Politics and foreign affairs

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From: DuckTapeSunroof	5/14/2010 1:09:37 PM
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Tax bills in 2009 at lowest level since 1950 By Dennis Cauchon USA TODAY usatoday.com "...Federal, state and local income 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." And a rejoinder / correction: "Despite these problems of data definition, the headline's claim about 2009 being a year of historically low taxes isn't far off. Tax Freedom Day, which is calculated by taking total taxes divided by a broad income measure, NNP (which is somewhat close to personal income), had a rate of about 26.6 percent in 2009, which was the lowest since 1959." From the non-partisan Tax Foundation's Tax Policy Blog: A Closer Look at Popular USA Today Article Claiming Historically Low Taxes May 11, 2010 by Gerald Prante taxfoundation.org

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