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1 Arthur P. Hall, Taxes Force American Family to Tighten Belt 1 (1995)

handle is hein.taxfoundation/srfexz0001 and id is 1 raw text is: November 1995 Number 54 11 Total taxes on the median two-incomc Amer ican falnily continue to climb, reaching a record high level in 1995. As ,igttre I shows, a median- income family with two inconlc earners can ex- pect to pay 38.2 percent of its income in fedcral, state, and local taxes. A median-income family with a single carner can expect to pay 36.2 per- cent, the highest percentage since 1975. This year's Tax Foundation report on the typical American linfily documents income and tax levels of both single- and dual-income fami- lies. According to the Bureau of ( Cnsus, tile two- income married couple family is tile highest Carn liii .i Id ing type of faimily in the I J.S., as well as the most common. Two-income married coupls acCOlnt for around 46 percent of all Amcrican families, while married COtllcs with one sposc' not working rcprcscnt another third of all families. In 1995, the typical two-income famiilN's record-high taxes as a percent of incone will also result in another record: the dollar atmotnt of inflation-adjustCd tax payments, $21,320. SLtowcvcr, the $10,795 of ttx pyments ot a typical single-earner family is below the inflation- adjusted $11,746 it paid in 1975. The single-in- colle fmily's 1995 taxes will ,also fall below the Figure 1 Taxes as Percentage of Incomefbr the Median One- and To-hcome lamilies, 1955-1995 L. One Income 38.1% Two 36I4n 3 380 Two Income 30.0% 25.0% 20.0% 15.0% 10 5 0 30-0% 293% 1955 1965 1975 1985 37.7% 35.7% r 1990 38.2% 36.2% ,-M 1995 SoUrcc: Tax tO[tlndAtioll. 13j' A rtbh P. tlall, P. I). Selnior IL)l'o/floI 7,a.x l,'outitaio/t

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