Taxes: The Drunken Pyramid

While Washington debates a federal tax increase, the inescapable fact is that some taxes are already on the rise. State and local taxes are growing by 9% a year, or almost twice as fast as the na tional income. On a per capita basis that counts infants and indigents, the tax bill averages out to $916 — $53 more than last year — and $303 of it is siphoned off by states, counties, cities and towns.

Hardly a week goes by without further increases. Last week alone:

— New York City Mayor John Lindsay's...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!