You know, one of the tax statistics we do hear over and over again is that in the 1950's a middle-class family paid as a percentage of their income tax on the Federal level 2 percent. In 1972, that was 16 percent. In 1995, on an average, that is 24 percent. So you can imagine the middle-class tax squeeze. The Secretary of the Treasury says often that we are not gaining. Of course, we are not. Any gains we make the Federal Government takes, and they are just taking it right off the plate.
Jack Kingston: “You know, one of the tax statistics we do hear over and over again is that in the 1950's a middle-class family paid as a…”
Editor's note · Context
Discussing the increasing tax burden on middle-class families.
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