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Tax and Spend President , Who?

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, Tuesday 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.

Answer Question
 
sweet-a-kins

Asked by sweet-a-kins at 10:26 AM on Apr. 15, 2010 in Politics & Current Events

Level 34 (67,502 Credits)
Answers (27)
  • 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.


    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.

    sweet-a-kins

    Answer by sweet-a-kins at 10:27 AM on Apr. 15, 2010

  • Care to link your original story you used for c&p? I know how you like to cherry pick from articles.
    Anonymous

    Answer by Anonymous at 10:32 AM on Apr. 15, 2010

  • Anonymous

    Answer by Anonymous at 10:44 AM on Apr. 15, 2010

  • Huffington Post? Hahahahahahaha

    Nope, no bias there!
    Anonymous

    Answer by Anonymous at 10:57 AM on Apr. 15, 2010

  • Yet I am reading articles about all the new taxes Obama has foisted upon us. this year is the calm before the storm. Unless you are a complete idiot you have to comprehend a massive rise in taxes over the next few years to pay for all the spending we have seen in the last year +.
    Carpy

    Answer by Carpy at 11:07 AM on Apr. 15, 2010

  • I think the bits you quoted over look a few key factors:

    1. It's not a tax hike, but Obama and his Dem buddies in Congress have already said they will let the "Bush" tax cuts expire without renewal. Call it what you want. Bottom line is you'll pay more taxes after expiration than you did before.

    2. The average income of a family of 4 is also lower today than it was two years ago...three years ago. . . That puts you into a lower tax bracket. . . which lowers the percentage of tax paid.

    3. The "average" take into account non-tax payers (you're below the threshold) as well as high tax payers. The more "non-tax" or "low-tax" payers because of unemployed and underemployed status will pull down the the AVERAGE percentage.

    My family of 4 is "middle income." I personally make too little to have federal taxes taken from my paycheck on a regular basis. We pay much more, over all, than 4.6% of our total income though.
    ldmrmom

    Answer by ldmrmom at 11:10 AM on Apr. 15, 2010

  • It is courtesy to link your original article so everyone can read and conclude for themself. I suppose I have to use google because someone is too lazy to be courteous. Perhaps I should just assume that they know that the article doesn't support the argument so they purposely avoid providing a link.

    Anonymous

    Answer by Anonymous at 11:10 AM on Apr. 15, 2010

  • For the love of God, please Google tax increases and see all the new taxs that start this year and grow next year.  There are pages and pages from reputable sources outlining Obama's tax increases.



    MunchMunch

    Answer by MunchMunch at 11:14 AM on Apr. 15, 2010

  • Sweet why do you even bother? this section belongs to the doom and gloom ladies, don't ya know!
    older

    Answer by older at 11:18 AM on Apr. 15, 2010

  • Sweet why do you even bother? this section belongs to the doom and gloom ladies, don't ya know!

    Like Dems were all sunshine and roses when Bush was in office. Both sides go negative when they lose so neither side can act superior.lol
    momtolucas2002

    Answer by momtolucas2002 at 11:25 AM on Apr. 15, 2010

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