This spring, President Obama announced that he would run for re-election as President of the United States. It wasn't exactly a huge surprise, but now it's official.
I want to support President Obama in his re-election bid, but I have one question for him. I'll put it here, since I don't think he'll read my e-mail.
"Mr. President, I'd like to support you in your re-election for President, but I have a problem. You see, I want to be truthful, so when my friends ask me, I'll have to tell them the truth about why I support you. So, before I announce my support for your re-election, I want to give you the chance to decline my support, since I'm not sure how many votes it will actually get you when I tell my friends I'm supporting you because you aren't as bad as the Republicans."
Wednesday, May 18, 2011
Wednesday, May 11, 2011
Are Americans' Taxes Too High?
According to USA Today, "Americans are paying the smallest share of their income for taxes since 1958 ... .
"The total tax burden - for all federal, state and local taxes - dropped to 23.6% of income in the first quarter [of 2011] ... .
"By contrast, individuals spent roughly 27% of income on taxes in the 1970s, 1980s and 1990s - a rate that would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year."
Maybe 23.6% is too high. I don't think so, not compared with all I get for those taxes, but maybe it is. Nonetheless, I was surprised to learn that it was so low. I was particularly surprised to learn that it was so low by comparison to how high it had been in previous decades.
If one listens to the "debate" in the public market place of ideas, one would conclude that the share of our incomes being taken for taxes was higher than it had ever been. Certainly the tax protesters would have one believe that, and I suspect that they believe it themselves. I do not remember one time when anyone has made it clear that our tax rate as a percentage of our incomes is lower than it has been in decades.
I think that's important to know when trying to decide whether we should begin to balance the federal budget by raising taxes, cutting services for the poor and powerless, or a combination of the two.
It is really important to make sure we are speaking truth to ourselves in this public market place of ideas. Really important.
"The total tax burden - for all federal, state and local taxes - dropped to 23.6% of income in the first quarter [of 2011] ... .
"By contrast, individuals spent roughly 27% of income on taxes in the 1970s, 1980s and 1990s - a rate that would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year."
Maybe 23.6% is too high. I don't think so, not compared with all I get for those taxes, but maybe it is. Nonetheless, I was surprised to learn that it was so low. I was particularly surprised to learn that it was so low by comparison to how high it had been in previous decades.
If one listens to the "debate" in the public market place of ideas, one would conclude that the share of our incomes being taken for taxes was higher than it had ever been. Certainly the tax protesters would have one believe that, and I suspect that they believe it themselves. I do not remember one time when anyone has made it clear that our tax rate as a percentage of our incomes is lower than it has been in decades.
I think that's important to know when trying to decide whether we should begin to balance the federal budget by raising taxes, cutting services for the poor and powerless, or a combination of the two.
It is really important to make sure we are speaking truth to ourselves in this public market place of ideas. Really important.
Subscribe to:
Posts (Atom)