Question
Go to the Bureau of Economic Analysis (BEA) webpage, Interactive Data tab, select [GDP & Personal Income], click the Begin using the data button, and
Go to the Bureau of Economic Analysis (BEA) webpage, "Interactive Data" tab, select [GDP & Personal Income], click the "Begin using the data" button, and select "Government Current Receipts and Expenditures" section and the "Federal Government Current Receipts and Expenditures table. Click the "MODIFY" button & select annual data for years 1955 to 2012. Then use the "CHART" button to use the graphing feature selecting the "Current tax receipts".Now compare the resulting graphs to the graph in the third article above.Does it seem that the declining effective tax rates reported in the third article have had a huge impact on the total tax revenues collected?(yes or no)
Go to Tax Foundation's Federal Individual Income Tax Rates History, scroll down to the second window with "scroll-down" tables (showing constant 2012 dollar tax rates), then follow the "Married Filing Jointly" tax rate for the 2012 median income of $51,371. Is there a significant increase in the statutory tax rates for the median income between 1955 and 1995?
Do the answers to the prior two questions support the inference that since 1955 the federal income tax burden has been shifted from the rich to the middle class?
Go to Tax Policy Center's Payroll Tax Rates (See also Federal Insurance Contributions Act at Wikipedia) and follow payroll tax rate between 1955 and 1995.How much have these FICA payroll tax rates changed between 1955 and 1995?
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