Dusty Johnson: “I think we should examine the context in which the budget resolution will be considered in the Senate. There was some…”

“I think we should examine the context in which the budget resolution will be considered in the Senate. There was some awfully good news for American families this weekend. It was announced this weekend that the Federal income tax burden for American families has shrunk to the lowest level in 40 years. Who says this? Studies by both liberal and conservative tax experts, the administration, and two arms of the Republican-controlled Congress confirmed that the Federal income tax burden for families in America is lower than it has been for 40 years. The middle fifth of American families, with an average income of $39,100, paid 5.4 percent in income tax last year compared to 8.3 percent in 1981. A four-person family, with a median income of $54,900, paid 7.46 percent of their income in income tax--the lowest since 1965. And a median two-earner family, making $68,605, paid 8.8 percent in 1988, which is about the same as in 1955. In fact, one-third of American families no longer pay income tax.”