If you’ve been listening to many conservatives, including lots of folks within the “tea party” movement, you’d think taxes are at an all-time high, but according to the Center on Budget and Policy Priorities, middle-income Americans are now paying federal taxes at or near historically low levels, whether it comes to their federal income taxes or their total federal taxes, according to the latest available data:
- Income taxes: A family of four in the exact middle of the income spectrum will pay only 4.6 percent of its income in federal income taxes this year, according to a new analysis by the Urban Institute-Brookings Institution Tax Policy Center. This is the second-lowest percentage in the past 50 years.
- Overall federal taxes: Middle-income households are paying overall federal taxes — which include income as well as payroll and excise taxes — at or near their lowest levels in decades, according to the latest data from the Congressional Budget Office (CBO).
Some of the more popular signs from all those tea party rallies is similar to this:
The fact that taxes on the middle class are at a 50-year low kinda flies in the face of the whole “taxed enough already” argument, doesn’t it?