Personal Taxes At Lowest Level Since 1950 12 May 2010
So says the Bureau of Economic Analysis.
Here's the whole story from yesterday's USA Today
(Hat Tip: Taegan Goddard at Political Wire). Putting aside the snarky, politically motivated quotes from people with an agenda in the story, here's the data-driven money quote:
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. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010.
