[HCCN] lower taxes

Dexter Bellows dexterrbellows at gmail.com
Sat Mar 27 10:31:43 EDT 2010


> As noted earlier, 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.
> Bartlell (being an economist) then spends a number of paragraphs  
> exploring why all these misconceptions might be out there, and even  
> references an economic theory or two.  But in the end, this is what  
> he concludes with.

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