Detailed text transcripts for TV channel - CNN - 20100416:02:02:00
It's a huge drop for those in the top end of the tax pool. most americans are in the middle of the tax pool. let's look at their tax rate what they pay. 50 years ago, a family of four in the middle of the income spectrum was taxed at 8%. 1980, it peaked at 12%. this year, it's estimated the same family of four will pay 4%. on the low end of the scale, let's look at the household earning less. you probably don't pay income taxes. i want to show you one thing. remember the 35% that americans pay today? i want to show you how it compares to other countries. australia, 45%. france 45%. japan, 40%....
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