So, our acquaintances over at Fox News are hyping Teabagging, also known as anti-tax Tea Parties. Other than a Lipton plot to sell lots of tea, this "movement" doesn't make much sense. Except for 1991 and 1992 (when the top tax rate was 31%) today's top tax rate of 35% is the lowest since the 1920's! Now, we're no teabagging experts, but we believe the first instance of this back in 1773 was not overhyped. Taxes, like the saying goes, are as inevitable as death and the amount Americans are paying is very low. In other countries, the tax rates can go up to around 60% (such as Sweden and Denmark). In a recent Gallup poll, 48% of Americans say that the pay "about the right amount in taxes," while only 46% say they pay too much. This is a reversal from most of the past 50 years where a vast majority (about 60%) of Americans feel they pay too much. We just don't see how this is a "movement" that has any real footing.
No comments:
Post a Comment