The New York Times Finally Admits Reaganomics Worked

The New York Times Finally Admits Reaganomics Worked

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Business Insider – Here’s the heart of the big New York Timesstory on taxes:

Most Americans in 2010 paid far less in total taxes — federal, state and local — than they would have paid 30 years ago.

According to an analysis by The New York Times, the combination of all income taxes, sales taxes and property taxes took a smaller share of their income than it took from households with the same inflation-adjusted income in 1980.

Households earning more than $200,000 benefited from the largest percentage declines in total taxation as a share of income. Middle-income households benefited, too.

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