Tax Bills For The Rich Near 30-Year High

WASHINGTON (March 3, 2013)--Although Washington is gridlocked again over whether to raise taxes on the rich, wealthy families are already are paying some of their biggest federal tax bills in decades, while the rest of the population continues to pay at historically low rates.

A new analysis shows that average tax bills for high-income families rarely have been higher since the Congressional Budget Office began tracking the data in 1979.

Middle- and low-income families aren't paying as much as they used to.

Liberals say rich families can afford to pay higher taxes because their incomes have grown much more than incomes for middle- and low-income families, but conservatives counter that raising taxes on the wealthy would reduce their incentive to save and invest, hurting long-term economic growth.


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