That was not always the case. In 1950, before government exploded, the average tax burden on the American family was 2% of its income. Today the burden is 25%, over half of which is Social Security and Medicare taxes. And the burden is often heavier for larger families, because of the phasing out of the child credit for families with a total income of $110,000. Now, before you start complaining about tax breaks for the rich, answer me this: Is a family making $110,000 with one child as well off economically as a family with 8 children at that same salary? Obviously not, but the tax code phases out the child credit all the same.
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| 2016 Presidential contenders on Tax Reform: | |||
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Republicans:
Sen.Ted Cruz(TX) Carly Fiorina(CA) Gov.John Kasich(OH) Sen.Marco Rubio(FL) Donald Trump(NY) |
Democrats:
Secy.Hillary Clinton(NY) Sen.Bernie Sanders(VT) 2016 Third Party Candidates: Roseanne Barr(PF-HI) Robert Steele(L-NY) Dr.Jill Stein(G,MA) | ||
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