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"According to the CBO, families in the top 20% pay average federal taxes of 25.1%. The figure in President Reagan's final year in office: 25.6%. " This doesn't
by rick888 16y ago
"According to the CBO, families in the top 20% pay average federal taxes of 25.1%. The figure in President Reagan's final year in office: 25.6%. "
This doesn't include city, state, and any other number of taxes a person pays. Most people pay upwards of 40% in taxes. I feel like this was intentionally left out.
"Mr. Henderson and his wife, an oncologist, make more than $250,000 a year, and apparently they're struggling to get by"
Chicago has a very high tax rate and housing isn't cheap either. According to Wikipedia, the sales tax in Chicago is 9.75% (this has been reduced from over 10%). It's the highest in the country.
- akeefer 16y agoThe point was less the absolute number and more the historical comparison; taxes on upper income brackets are nearer the lower end of post WW2 historical norms than the higher end, but from hearing people complain about it you'd think that taxes right now were close to historical highs.