TRUMP AND HIS ADMINISTRATION ARE UNDER FBI INVESTIGATION; A SPECIAL COUNSEL HAS BEEN APPOINTED TO LOOK INTO POSSIBLE COLLUSION WITH RUSSIA BY TRUMP CAMPAIGN; AND THE US HOUSE AND SENATE HAVE COMMITTEES LOOKING INTO RUSSIAN COLLUSION AND CONSPIRACY WITH THE TRUMP CAMPAIGN.
Thursday, April 15, 2010
THE TRUTH ABOUT YOUR TAXES ON TAX DAY--They went DOWN under President Obama!
But does their anger reflect the truth about today's tax rates?
After all, neutral economists insist that, under the Obama administration, the overwhelming likelihood is that your tax burden has gone down, not up. Even conservative economic analysts acknowledge that there really is no basis for middle- and working-class Americans to believe that they're suddenly paying more."
"The only tax I think that has been put in place so far is an increase in the federal cigarette tax. I can't think of another Obama tax that has gone in place so far," said Chris Edwards, Director of Tax Policy Studies at the conservative Cato Institute. "I would say that people are angry because big taxes are coming down the road because of the gigantic deficit built up under Bush and continued under Obama."
And yet, Thursday is expected to bring a range of hotly-charged rhetoric over the damage this 'tax-and-spend' president has done to the general public's bottom line.
A look at the numbers tells a different story. For starters: the non-partisan Center for Budget and Policy Priorities reported on Wednesday that "Middle-income Americans are now paying federal taxes at or near historically low levels." How low? The average family of four right now is paying 4.6 percent of its income in federal income taxes -- the second lowest percentage in 50 years."
[The Tea Partiers don't let facts get in the way of their group discontent.]
"A report from the White House Council of Economic Advisers, meanwhile, asserts that the president's economic stimulus package has sent more than $200 billion in tax relief and other benefits to mainly middle- and lower-income families since its passage.
Citizens for Tax Justice, a self-described non-partisan organization, released a report on Tuesday that read: "The 2009 economic stimulus bill actually reduced federal income taxes for tax year 2009 for 98 percent of all working families and individuals." This total includes the 95 percent of working families that will or have received tax credits in the range of $400 to $800.
The health care bill passed by the administration, meanwhile, includes a tax credit that could cover up to 35 percent of the premiums a small business pays to insure its workers. The Recovery Act, meanwhile, included such tax breaks as a $1,500 credit for home energy improvements, and an $8,000 credit for first-time home buyers. "
From Sam Stein
Yesterday, on Boston Common, the Tea Partiers held signs depicting the Hammer and Sickle and President Obama. IOW, he's a Commie because he gave the people holding those signs a tax cut.
TEA PARTIERS: THEY'RE ANGRY; THEY'RE LOUD; BUT MOST OF ALL, THEY'RE CONFUSED.