I’m sure the teabaggers in DC today will be thanking Obama and the Democratic Congress for overcoming GOP obstructionism and lowering taxes to their lowest level in 60 years?
“The American people need to be reminded that 98 percent of Americans got a tax cut last year,” Senate Majority Leader Harry Reid said Wednesday.
Reid was referring to the impact of the American Recovery and Reinvestment Act, otherwise known as the stimulus — essentially, the only Obama policy to really impact people’s 2009 tax returns. In fact, tax refunds reached an all-time high this year in part because of the stimulus, the president said in his weekly address on Saturday. Meanwhile, taxes are at their lowest levels in 60 years, according to William Gale, co-director of the Tax Policy Center and director of the Retirement Security Project at the Brookings Institution.
“The relation between what is said in the tax debate and what is true about tax policy is often quite tenuous,” Gale told Hotsheet. “The rise of the Tea Party at at time when taxes are literally at their lowest in decades is really hard to understand.”
For more click on these links:
Americans paying less taxes this year despite Tax Day rhetoric …
Tax Rates At Their Lowest Point In 60 Years Is A Problem | FDL …
Apr 15, 2010 … We pay less tax than many Europeans countries with their …. rest of the budget for several decades, it is BS on that count as well. … The 400 richest people in America had an effective tax rate in 2007 of just 16.6%. …
