Monday, August 22, 2011
"U.S. incomes fell sharply in 2009: IRS data"
The less income, the less taxes are paid. I guess that's pretty obvious.
That being said, you would think creating an economic environment that puts more people to work will give governments the money they want.
Duh...
That being said, you would think creating an economic environment that puts more people to work will give governments the money they want.
Duh...
David Cay Johnston recently pointed out some statistics at Reuters.com:
"Average income in 2009 fell to $54,283, down $3,516, or 6.1 percent in real terms compared with 2008, the first Internal Revenue Service analysis of 2009 tax returns showed. Compared with 2007, average income was down $8,588 or 13.7 percent.
Average income in 2009 was at its lowest level since 1997 when it was $54,265 in 2009 dollars, just $18 less than in 2009. The data come from annual Statistics of Income tables that were updated Wednesday.
The average tax rate was 11.4 percent, up from 10.5 percent in 2007, the Internal Revenue Service data showed."
