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> In other words, the average US citizen has, over the years, been taxed way har I look at it through the shares of income to the Treasury. In 1950 the Treasu
by akira2501 5y ago
> In other words, the average US citizen has, over the years, been taxed way har
I look at it through the shares of income to the Treasury.
In 1950 the Treasury took in $39 billion, adjusted for inflation that would
be $458 billion today. 40% of that was individual income taxes, 10% was social
security. 26% was corporate taxes, and 20% was excise taxes.
In 2020 the Treasury took in $3,421 billion. 47% of this was individual income
taxes, 38% was social security. 6% were corporate taxes, and 2.5% was
excise taxes.
The individual burden went from 50% to 85% over the past 70 years.