U.S. tax rates have fallen since 1980

Many hardworking citizens feel the tax system is unfair, says The New York Times.

Most say they work long hours to earn their paychecks, only to have almost half scooped up by the government. What’s worse is the wealthy allegedly find ways to hide “in loopholes…and aren’t paying their fair share.”

Turns out, however, U.S. taxpayers are luckier than they think. The Times reveals, “Most Americans in 2010 paid far less in total taxes—federal, state and local—than they would have paid 30 years ago.”

Read: France proposes 75% income tax

It adds the combination of all taxes “took a smaller share of their incomes than it took from households with the same inflation-adjusted income in 1980.”

Read more on how Congress has cut federal taxation at every income level.

Also check out this graphic display of how taxes have fallen over the past 30 years, mostly for medium- and high-income earning households.

Also read:

Common U.S. tax troubles

Tax-efficient investor behaviour

Beware of tax protestor schemes

Indirect taxes hurt client incomes