Taxes at Lowest Levels in 60 Years

Posted in: Muscatine

"The relation between what is said in the tax debate and what is true about tax policy is often quite tenuous," Gale told Hotsheet. "The rise of the Tea Party at at time when taxes are literally at their lowest in decades is really hard to understand."


Skepticism surrounding the president's tax policies likely stem from a variety of factors: First, it's simply harder to open one's wallet for the government during a recession, and some state and local tax increases added to some people's burden. Additionally, many Americans may be more concerned with potential tax increases in the future. On top of all that, it can simply be hard to have a firm understanding of what's going on in Washington from the hyper-partisan rhetoric often used to talk about taxes.


Here's a look at what the president did for your tax return in 2009, what he may do in the future and whether it all adds up.

http://www.cbsnews.com/8301-503544_162-20002548-503544.html

 

 

Nothing from the conservative base?

  • Stock
  • mallory
  • Respected Neighbor
  • USA
  • 3461 Posts
  • Respect-O-Meter: Respected Neighbor

 

 

Nothing from the conservative base?


Did you see the list of tax rates in the DM Register today?

 

2010     35%      for incomes over $373,651

2000     39.5%                                 $288,350

1990     28%                                    $32,450

1980     70%                                    $215,400

1970     71%                                    $200,000

1960     91%                                    $400,000

1950     84%                                    $400,000

1940     81%                                    $5,000,000

1930     25%                                    $100,000

1920     73%                                    $1,000,000

 

 

There were some good times back then and some bad ones.

We fought three serious conflicts, built the interstate highway system and sent a bunch of guys to the moon but we had a budget surplus during Johnson's administraton.   It didn't happen again until Clinton.

 

That's what gives me confidence.   It didn't look like there was one chance in a million of getting rid of the Bush I deficits in 1992 but our man Clinton did it.   So I'm hoping it can be done again.   Do it in the next 7 years and not put it all on the grandchildren.

Advertise Here!

Promote Your Business or Product for $10/mo

istockphoto_1682638-attention.jpg

For just $10/mo you can promote your business or product directly to nearby residents. Buy 12 months and save 50%!

Buynow