Leftist Talking Points of 2011
“Peter Schiff calculated that a house making $250,000 pays 40% of its income in federal income taxes, while that household’s counterpart in the ’50s paid only 22%. Even the lower brackets are paying more. The lowest tax rate for married couples in 1950 amounted to $38,321 today, while now, the lowest bracket is $17,000 — a $21,321 increase in income subject to taxation. Both the effective tax rate at median income and taxes as a percentage of personal income are higher today than they were in the ’50s.”
Economics aren’t a strong point of the left; only emotionally appealing bumper sticker talking points.