ALBUQUERQUE, N.M. — The silly season known as an election year spawns a host of lies, distortions and propaganda around a host of issues. Taxation is one of them.
In honor of tax day (your income taxes are due today), I’ve drawn on the work of organizations such as the Tax Policy Center, the Hamilton Project and the Center on Budget and Policy Priorities to assemble a short list of facts in the hope that some of the political-inspired tax myths out there might be punctured.
1. Almost all of our tax dollars go to defense, retirement benefits and medical care.
2. Just about everybody pays taxes.
3. Out of 35 member countries of the Organization for Economic Cooperation and Development, 30 impose higher taxes than the United States.
4. Federal income tax rates are at historic lows.