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Old 09-23-2010, 04:02 PM
 
5,346 posts, read 4,047,317 times
Reputation: 545

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Tax Day rhetoric aside, Americans' bills are lower - Yahoo! Finance

Tax Day Fact Check: Most Americans Got A Tax Cut This Year

The Misinformed Tea Party Movement - Forbes.com

Federal Income Taxes on Middle-Income Families at Historically Low Levels; Center on Budget and Policy Priorities

Only 12% Of Americans Think Obama Cut Their Taxes: POLL

In short, no matter how one slices the data, the Tea Party crowd appears to believe that federal taxes are very considerably higher than they actually are, whether referring to total taxes as a share of GDP or in terms of the taxes paid by a typical family.

Tea Partyers also seem to have a very distorted view of the direction of federal taxes.
They were asked whether they are higher, lower or the same as when Barack Obama was inaugurated last year.

More than two-thirds thought that taxes are higher today, and only 4% thought they were lower; the rest said they are the same.

Federal taxes are very considerably lower by every measure since Obama became president. And given the economic circumstances, it's hard to imagine that a tax increase would have been enacted last year. In fact, 40% of Obama's stimulus package involved tax cuts. These include the Making Work Pay Credit, which reduces federal taxes for all taxpayers with incomes below $75,000 by between $400 and $800.

According to the JCT, last year's $787 billion stimulus bill, enacted with no Republican support, reduced federal taxes by almost $100 billion in 2009 and another $222 billion this year.

The Tax Policy Center, a private research group, estimates that close to 90% of all taxpayers got a tax cut last year and almost 100% of those in the $50,000 income range.

For those making between $40,000 and $50,000, the average tax cut was $472; for those making between $50,000 and $75,000, the tax cut averaged $522. No taxpayer anywhere in the country had his or her taxes increased as a consequence of Obama's policies.

It's hard to explain this divergence between perception and reality. Perhaps these people haven't calculated their tax returns for 2009 yet and simply don't know what they owe. Or perhaps they just assume that because a Democrat is president that taxes must have gone up, because that's what Republicans say that Democrats always do. In fact, there hasn't been a federal tax increase of any significance in this country since 1993.
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Old 09-23-2010, 07:11 PM
 
35,016 posts, read 39,154,953 times
Reputation: 6195
>crickets<
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Old 09-23-2010, 07:19 PM
 
Location: NC
1,251 posts, read 2,577,581 times
Reputation: 588
Quote:
Originally Posted by HC475 View Post
Tax Day rhetoric aside, Americans' bills are lower - Yahoo! Finance

Tax Day Fact Check: Most Americans Got A Tax Cut This Year

The Misinformed Tea Party Movement - Forbes.com

Federal Income Taxes on Middle-Income Families at Historically Low Levels; Center on Budget and Policy Priorities

Only 12% Of Americans Think Obama Cut Their Taxes: POLL

In short, no matter how one slices the data, the Tea Party crowd appears to believe that federal taxes are very considerably higher than they actually are, whether referring to total taxes as a share of GDP or in terms of the taxes paid by a typical family.

Tea Partyers also seem to have a very distorted view of the direction of federal taxes.
They were asked whether they are higher, lower or the same as when Barack Obama was inaugurated last year.

More than two-thirds thought that taxes are higher today, and only 4% thought they were lower; the rest said they are the same.

Federal taxes are very considerably lower by every measure since Obama became president. And given the economic circumstances, it's hard to imagine that a tax increase would have been enacted last year. In fact, 40% of Obama's stimulus package involved tax cuts. These include the Making Work Pay Credit, which reduces federal taxes for all taxpayers with incomes below $75,000 by between $400 and $800.

According to the JCT, last year's $787 billion stimulus bill, enacted with no Republican support, reduced federal taxes by almost $100 billion in 2009 and another $222 billion this year.

The Tax Policy Center, a private research group, estimates that close to 90% of all taxpayers got a tax cut last year and almost 100% of those in the $50,000 income range.

For those making between $40,000 and $50,000, the average tax cut was $472; for those making between $50,000 and $75,000, the tax cut averaged $522. No taxpayer anywhere in the country had his or her taxes increased as a consequence of Obama's policies.

It's hard to explain this divergence between perception and reality. Perhaps these people haven't calculated their tax returns for 2009 yet and simply don't know what they owe. Or perhaps they just assume that because a Democrat is president that taxes must have gone up, because that's what Republicans say that Democrats always do. In fact, there hasn't been a federal tax increase of any significance in this country since 1993.
I suppose you think the health care bill will lower costs. What are you putting in the Kool aid?
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Old 09-23-2010, 07:21 PM
 
Location: Central Maine
4,697 posts, read 6,448,256 times
Reputation: 5047
Yep, my taxes went down as well.
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Old 09-23-2010, 07:24 PM
 
Location: Great State of Texas
86,052 posts, read 84,481,831 times
Reputation: 27720
Well I went and looked at my IRS 1040 books for 2009 and 2008...
From the tax tables

50K per year single
2008: $8850 taxes
2009: $8694 taxes

That's $156 less right there.
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Old 09-23-2010, 07:25 PM
 
Location: The Midwest
2,966 posts, read 3,916,504 times
Reputation: 5329
Mine did too. Makes me wonder what the Tea Party is actually complaining about.
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Old 09-23-2010, 07:27 PM
 
Location: Chicagoland
41,325 posts, read 44,944,793 times
Reputation: 7118
Is that the tax cut that amounted to approximately $13/week?

Is it any wonder no one noticed?
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Old 09-23-2010, 07:29 PM
 
Location: Staten Island, NY
6,476 posts, read 7,323,649 times
Reputation: 7026
Incomes have gone down a lot since then as well, no?
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Old 09-23-2010, 07:29 PM
 
Location: Arlington, VA
5,412 posts, read 4,239,885 times
Reputation: 916
I'm actually pissed off at Bush. Apparently I was too well off to get any of his "checks" despite me paying more int axes than the people who got them..
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Old 09-23-2010, 07:32 PM
 
Location: Imaginary Figment
11,449 posts, read 14,466,505 times
Reputation: 4777
Quote:
Originally Posted by sanrene View Post
Is that the tax cut that amounted to approximately $13/week?

Is it any wonder no one noticed?
You're changing the subject to avoid the point. The point is that you guys have been crying about "Raising taxes" for years now and it hasn't happened, in fact it's the opposite.

It's par for the course though, the GOP makes wild predictions that never happen all the time, it's how they roll.
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