USA Today is wrong about taxes
Tax bills in 2009 at lowest level since 1950 – USATODAY.com
Americans paid their lowest level of taxes last year since Harry Truman’s presidency, a USA TODAY analysis of federal data found. Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports.
Uh, that is complete bullshit. Social Security taxes alone are 12.4% (employer pays half) of up to $106,800 of gross income. Medicare is 2.9% (employer pays half) with no ceiling. If I calculate the tax burden that I personally pay (so not including the fact that everything I buy is price-inflated from upstream taxation), I pay at least 35%. In fact, every dollar I’ve earned so far this year is going to be paid to the government… it is only in mid-May that I’m allowed to start keeping any for myself.
