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.I’ll believe my lyin’ eyes, thank you very much. Even though the wife and I have already partially ‘gone Galt’, our monthly state and federal taxes - alone, excluding FICA - are well above the quoted 9.2% (and yes, I do know how to do percentages).
If I look at all taxes from our 2009 tax return data, the percentage is roughly double; triple including FICA and Medicare; more if sales taxes are included -- and we can’t claim even being close to Obama’s evil rich earning $250K or more.
Linked from JammieWearingFool.
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