Tuesday, December 7, 2010

Taxed To Death!!1!

Or like every other meaningless teabagger slogan... not at all the case.

Felix Salmon:

  • Federal taxes are the lowest in 60 years, which gives you a pretty good idea of why America’s long-term debt ratios are a big problem. If the taxes reverted to somewhere near their historical mean, the problem would be solved at a stroke.
  • Income taxes, in particular, both personal and corporate, are low and falling. That trend is not sustainable.
  • Employment taxes, by contrast—the regressive bit of the fiscal structure—are bearing a large and increasing share of the brunt. Any time that somebody starts complaining about how the poor don’t pay income tax, point them to this chart. Income taxes are just one part of the pie, and everybody with a job pays employment taxes.
  • There aren’t any wealth taxes, but the closest thing we’ve got—estate and gift taxes—have shrunk to zero, after contributing a non-negligible amount to the public fisc in earlier decades.
Gotta love that spec of light blue BIG GOVERNMENT *fartz* forcing all those poor corporations to go galt and captain their industries in other countries.

The tax structure in this country is fucking insane, and nothing you hear about it in the media is true.

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