The Changing Government Tax Bite

the Changing Government Bite

How will President Reagan's proposal affect me? That was the question millions of Americans were asking themselves last week. The accounting firm of Coopers & Lybrand did a study for TIME based on computer models of how some typical taxpayers fare under current laws and how they would do if the President's program is adopted. The results:





A family of four in Moline, Ill., with a total income of $25,000. They now pay $1,611 in state and local taxes and $5,400 for interest on their mortgage. The family has charity donations of $500 and no...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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