Taxpayers, Beware: Record Tax Burden Is Rising

THE HERITAGE FOUNDATION

Congress is threatening to raise taxes significantly and often as it debates a variety of major tax and spending proposals. But before Congress launches into a new spate of tax hikes, policymakers and taxpayers need to understand the historical context of overall tax levels and where those levels are headed under current policy. Although federal taxes as a share of the overall economy have stayed relatively constant over the past 40 years, the amount paid by individual taxpayers hits a new record almost every year even after adjusting for inflation. Rather than continuing this trend, Congress should be looking to cut taxes and spending.

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