tax-cuts

Beneath all of the Republican and Tea Party grumbling about taxes, one key fact continues to be ignored. Federal taxes are lower than at any time since 1955. Obama has now reduced taxes by more than any president since Dwight D. Eisenhower.

…“For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955… All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s… The highest income-tax bracket is its lowest since 1992. At 35 percent, it’s well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.”