AP Shocker: 'Tax Bills For Rich Families Approach 30-Year High'
The Left and their media minions spent a good part of the past two years claiming the rich don't pay their "fair share" of taxes.
Not according to the Associated Press which shockingly published a piece Sunday titled "Tax Bills For Rich Families Approach 30-Year High":
President Barack Obama and Democratic leaders in Congress say the wealthy must pay their fair share if the federal government is ever going to fix its finances and reduce the budget deficit to a manageable level.
A new analysis, however, shows that average tax bills for high-income families rarely have been higher since the Congressional Budget Office began tracking the data in 1979. It’s middle- and low-income families that aren’t paying as much as they used to.
Imagine that. The AP published an article which included the sentence "It’s middle- and low-income families that aren’t paying as much as they used to."
Pigs are flying, ladies and gentlemen:
For 2013, families with incomes in the top 20 percent of the nation will pay an average of 27.2 percent of their income in federal taxes, according to projections by the Tax Policy Center, a research organization based in Washington. The top 1 percent of households, those with incomes averaging $1.4 million, will pay an average of 35.5 percent.
Those tax rates, which include income, payroll, corporate and estate taxes, are among the highest since 1979.
The average family in the bottom 20 percent of households won’t pay any federal taxes. Instead, many families in this group will get payments from the federal government by claiming more in credits than they owe in taxes, including payroll taxes. That will give them a negative tax rate. [...]
The middle 20 percent of U.S. households — those making an average of $46,600 — will pay an average of 13.8 percent of their income in federal taxes for this year, according to the Tax Policy Center. Over the past three decades, the average federal tax rate for this group has been about 16 percent.
It appears the AP has just confirmed what people on the right - including yours truly - have been saying throughout this entire debate: the tax code has actually gotten more progressive in the past 30 years NOT less progressive as the Left and their media minions claim.