McCain: Lowest Tax Rates in Decades Are Crippling the Country
Sen. John McCain (R-Ariz.) took to the Senate floor today to decry the crippling effect of federal income taxes on families and the economy.
“While we continue to spend and spend and spend here in Washington,” he said, “the tax burden carried by the average American gets heavier and heavier and heavier.”
He must not have seen the this new study from the Tax Policy Center, a joint project of the nonpartisan Urban Institute and Brookings Institution. Crunching numbers from the Congressional Budget Office, another nonpartisan group, analysts there found that the median middle-class family of four will owe just 4.6 percent in federal income tax today — about half of what they owed in Ronald Reagan’s lowest tax year.
Much of the reason, as the Center on Budget and Policy Priorities notes, is the generous tax break offered in the Democrats’ stimulus bill, passed a year ago.
Don’t try to convince McCain. Our tax-paying ritual, he said, “is a painful, complicated and uniquely American exercise.” As if the Belgians are taking home everything.