Taxes Are Low

Apr 5 2012 @ 3:02pm

Low_taxes

A reality check:

When it comes to income taxes, a family of four in the exact middle of the income spectrum will pay 5.6 percent of its 2011 income in federal income taxes, according to new estimates from the Urban Institute-Brookings Institution Tax Policy Center.  Federal income taxes on middle-income families have fallen significantly in recent decades, and they have been lower under Presidents George W. Bush and Obama than at any time since the 1950s.

And Romney is campaigning both to slash the deficit and to cut taxes on the wealthy, while ramping up defense to levels beyond even the Cold War. It's as if he wants to repeat Reagan – when Reagan came to office at peak taxation and we are now close to the trough. This is what happens when ideology simply doesn't shift to adapt to reality, and when one party refuses to tell people that they cannot have their cake and eat it too.