On Oct 8, 2008, at 2:54 PM, Lenin's Tomb wrote:
> On Wed, Oct 8, 2008 at 7:05 PM, Doug Henwood <dhenwood at panix.com>
> wrote:
>
>>
>> On Oct 8, 2008, at 1:50 PM, Lenin's Tomb wrote:
>>
>> This isn't coming from today's federal budget. It is going to be
>> paid for
>>> by increased taxation, mostly on the working class. They call it
>>> 'tightening your belt'.
>>>
>>
>> Doesn't have to be. Even Bill Clinton raised taxes on the top 1%.
>
> And on everyone else.
Not at all. You been watching Fox News or something?
The table below includes all federal taxes - income, SS, excise, etc. Note diff between Reagan and GWB: RR cut taxes for rich, raised them on poor; W cut 'em for everyone.
<http://cbo.gov/ftpdocs/88xx/doc8885/Appendix_wtoc.pdf>.
Total Effective Federal Tax Rate
quintile
---------------------------------------------
first second third fourth fifth
1979 8.0 14.3 18.6 21.2 27.5
1980 7.7 14.1 18.7 21.5 27.3
1981 8.3 14.7 19.2 22.1 26.9
1982 8.2 13.8 17.9 20.6 24.4
1983 9.1 13.7 17.5 20.1 23.9
1984 10.2 14.6 18.0 20.4 24.3
1985 9.8 14.8 18.1 20.4 24.0
1986 9.6 14.8 18.0 20.5 23.8
1987 8.7 14.0 17.6 20.2 25.8
1988 8.5 14.3 17.9 20.6 25.6
1989 7.9 13.9 17.9 20.5 25.2
1990 8.9 14.6 17.9 20.6 25.1
1991 8.4 14.2 17.6 20.5 25.3
1992 8.2 13.7 17.4 20.2 25.6
1993 8.0 13.5 17.3 20.2 26.8
1994 6.6 13.1 17.3 20.4 27.4
1995 6.3 13.4 17.3 20.5 27.8
1996 5.6 13.2 17.3 20.3 28.0
1997 5.8 13.6 17.4 20.5 28.0
1998 5.8 13.0 16.8 20.4 27.6
1999 6.1 13.3 16.9 20.5 28.0
2000 6.4 13.0 16.6 20.5 28.0
2001 5.1 11.5 15.3 18.9 26.7
2002 4.7 10.8 14.8 18.3 26.0
2003 4.6 9.8 13.8 17.4 25.0
2004 4.3 9.9 14.1 17.3 25.2
2005 4.3 9.9 14.2 17.4 25.5
1980-84 2.2 0.3 -0.6 -0.8 -3.2 1992-96 -2.6 -0.5 -0.1 0.1 2.4 2000-05 -2.1 -3.1 -2.4 -3.1 -2.5
top 10% top 5% top 1%
1979 29.6 31.8 37.0
1980 29.0 30.8 34.6
1981 28.2 29.4 31.8
1982 25.3 26.0 27.7
1983 24.8 25.6 27.7
1984 25.2 26.1 28.2
1985 24.7 25.4 27.0
1986 24.3 24.6 25.5
1987 27.2 28.5 31.2
1988 26.7 27.8 29.7
1989 26.3 27.2 28.9
1990 26.1 27.0 28.8
1991 26.6 27.6 29.9
1992 26.9 28.1 30.6
1993 28.6 30.5 34.5
1994 29.4 31.3 35.8
1995 29.8 31.8 36.1
1996 30.1 32.0 36.0
1997 29.9 31.6 34.9
1998 29.3 30.8 33.4
1999 29.7 31.2 33.5
2000 29.6 31.0 33.0
2001 28.5 30.0 32.8
2002 27.9 29.5 32.8
2003 26.8 28.5 31.7
2004 27.1 28.7 31.4
2005 27.4 28.9 31.2
1980-84 -4.4 -5.7 -8.8 1992-96 3.2 3.9 5.4 2000-05 -2.2 -2.1 -1.8