Detailed text transcripts for TV channel - CNN - 20110510:10:18:00
27% the tax rate. the 1990s, if we were paying taxes at 1990 rates it would bring in an extra $500 billion a year to the federal coffers, about a third of the estimated $1.5 trillion federal deficit this year. how does it break down per person? let's take a look. say you're making $100,000 a year. you may $23,600 in taxes on average. what was it like in 2000 in? that same person would have pay 28,700 in taxes, talking $5,100 less than in 2000. why? of course we're talking about the bush-era tax cuts and the one year, 2% social security tax reduction that president obama signed. those are two r...
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