Why the U.S. is Broke... Personal Current Tax Edition

Posted on Wednesday, November 25, 2009

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Always lots of interesting information within the Personal Income and Outlays release. Here is one such area... personal current taxes, which are:

Includes taxes paid by persons on income, including realized net capital gains, and on personal property.

For all we complain about taxes, our current rate as a percent of personal income is a measly 8.8% down a whopping 60% from 2000 levels.

In real per capita space, while our economy has grown 62% per capita since 1979, personal current taxes paid (again in real per capita terms) is only up 13%.

And we wonder why our country is so indebted?

Source: BEA

Jake 25 Nov, 2009

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Source: http://econompicdata.blogspot.com/2009/11/why-us-is-broke-personal-current-tax.html
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