Friday, June 3, 2011

Taxes Lower Today Than During Reagan Presidency

The average income tax rate for a family of four in 1983 was 11.06%

The average income tax rate for a family of four in Clinton Presidency was 9.18%

The average income tax rate for a family of four during 2010 was 4.68%.

Don't believe it?  See http://thinkprogress.org/economy/2011/06/01/233526/taxes-lower-reagan/.


During President Reagan's eight years tax revenue ranged from 7.8% to 9.4% of GDP.

In 2010, tax revenue was 6.2% of GDP.

In 2009, when the Tea Party was formed, taxes were the lowest in 60 years.  Many have said Fox News made the Tea Party, though today it is more than Fox. 

Historically speaking, it is as though the British had slashed taxes in 1775 and before, but the Tea protest in  Boston Harbor happened anyway.

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