Boy, Are Americans Not Overtaxed: New CBO Data

Jared Bernstein looks at New CBO Data and concludes Boy, Are Americans Not Overtaxed.

"The Congressional Budget Office just released a very thorough update of their high quality household income series, adding data through 2009.  There’s so much in here it will be weeks before I can work my way through all of its nooks and crannies, but so far, two things jumped out at me.

First, man, I gotta say: when it comes to federal taxation, there is just no case in the data to be made in any way, shape or form that we Americans are overtaxed.  Not middle income, not high income—not the overall average. Not relative to other countries (figure 4 here), and not relative to our historical rates back to 1979."