Policy Progressivity

A new CBO report shows that over the past thirty years, 72.5% of all income growth for the middle quintile of the population (households earning $50,000), came from increased government payments (social security, food stamps…) and reduced federal taxes. In ’79, the middle quintile paid $10,400 in taxes and received $3,100 in payments. Now they pay $7,700 and receive $10,400. While some of this is temporal, the trend is unnerving.

Share This Post
Facebook Twitter Email

Speak Your Mind