In the year 2000 combined Federal, State, and local taxes were 14.4 percent of personal income. In 2009, the total combined taxes were down to 9.4 percent of personal income. So that’s a 5% difference, or a decline of 34.7% !Take a look at his graphs. Total taxes haven't been this low as a percentage of income since 1950.
Tuesday, July 5, 2011
Taxes are Historically Low
Ritholtz:
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