Hey Teabaggers, Your Taxes Are Actually Really, Really Low
This post originally appeared on Open Left. Today, tea partiers will be protesting the lowest tax rates in decades. Here are federal income taxes as a share of total taxes for the median family of four over the past few decades: And here is the share for the wealthiest households: And, at the bottom, nearly half of all U.S. households won't pay income taxes at all:
About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization.Taxes have been cut--for almost everyone. They are at historic lows. This is probably a contributing factor to why only 20% of the country think the share of taxes they have to pay is "unfair." But the protests will still dominate political news coverage today. Hopefully, this broader context will get some airtime, too.