Taxes not as high as you might think
WASHINGTON – Taxes too high? Actually, as a share of the nation’s economy, Uncle Sam’s take this year will be the lowest since 1950, when the Korean War was just getting under way. And for the third straight year, American families and businesses will pay less in federal taxes than they did under former President George W. Bush, thanks to a weak economy and a growing number of tax breaks for the …
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Taxes, taxes, how to pay the taxes?
Lu Vivona, 75, has always been frugal. As she says, she’s had to be. Like many other senior citizens in New Milford, Mrs. Vivona and her husband, Ben, 77, have seen static to shrinking income in an economy with costs skyrocketing and taxes continuing to rise.
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Taxes under the Obama administration
Taxpayers at most income levels have seen their federal income taxes drop under President Barack Obama. A comparison of tax bills for 2010, which must be filed this spring, with bills from 2008, the last full year of George W. Bushand#8217;s presidency:
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