The New York Times Finally Admits Reaganomics Worked
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.