Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: DuckTapeSunroof who wrote (43427)	5/24/2010 7:46:40 PM
From: TimF	Read Replies (1) \| Respond to of 71588

And YOU were the one stating that they were much lower.... 1 - No. I made no such claim. I said they where lower, not much lower. 2 - The nominal income tax rates where in some cases slightly higher, but often they where lower. They where not much higher for the middle class. As I said they where only much higher for the wealthy. 3 - The nominal marginal income tax rates are far from the only tax consideration. For the middle class they where around the same to slightly lower. At the same time you had much lower payroll taxes, and you tended to have lower state income taxes, state sales taxes, and misc. taxes (they didn't have the post 911 security taxes/charges, many new hotel taxes have been added since then, taxes on telecommunications services in order to provide "universal access" have been added, etc.), so the total tax burden on much on the middle class. Other than for EITC earners (actual earners today compared to the closest equivalent from back then, EITC didn't start until 1975) the middle class generally pays more now.