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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (43406)	5/24/2010 3:58:12 PM
From: TimF	Read Replies (1) \| Respond to of 71588

we are already agreed* about the extremely high nominal rates..* For the very wealthy, not for most of the income of the middle class.

To: DuckTapeSunroof who wrote (43406)	5/24/2010 4:24:47 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Here are some actual numbers. A married couple making up $12000 in 1965 ($83,051.05 in 2010 dollars per usinflationcalculator.com would pay 22% in federal income tax for the higher part of their income. Today someone making that much would pay 25%. See taxfoundation.org Then we can consider that non-mortgage interest was deductible. And that the payroll tax was lower. 6% to 15.3% is a big jump, esp. considering you don't get all the deductions and credits that you can get with the income tax. Then you have higher gasoline taxes, generally higher sales taxes, generally higher state income taxes, and generally higher misc. taxes (air flight charges from the government, hotel taxes, telecommunications taxes, etc.)