You know the Tea Party claim that they are “Taxed Enough Already”, and that Obama is taxing them to death? Not only is it not true (we’ve known that for a long time), but it’s actually in the area of “Epic Fail”:

Federal, state and local taxes ? including income, property, sales and other taxes ? consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010.

Boom, headshot!

Now, I know the next complaint; federal debt is growing. Yes, it is. It’s also what is pulling us out of the Great Recession… and it’s why you don’t deficit spend during times of plenty (which is what the last three Republican administrations did). Obama’s deficit spending is relatively small compared to what Bush did, and if Bush hadn’t spent like a drunken sailor nobody would be freaking out about a little stimulus spending. Well, some people would, but that’s because they’re freaked out that the President is black.

 
  • adrienne

    Hey Brian,
    We're underpaid should be their motto because we voted for our bosses.

  • “Well, some people would, but that?s because they?re freaked out that the President is black.”

    Yes, they are racists. All of them. Classy. Very classy. Nevermind that the United States posted its largest-ever (even bigger than when Bush was president!) April federal deficit last month (see link 1 below).

    By the way, USA Today (and, by extension, you) didn't tell the whole story. A response (see link 2 below):

    “…Second, readers may walk away knowing that the US government costs much more than 9.2% of national income to operate, but figure that corporations or foreigners pay the rest. In other words, ?we? pay 9.2%, ?they? pay the rest. It?s an iron-clad rule of public finance that corporations don?t pay taxes, people pay taxes. All tax incidence ultimately rests on a person. If you tax a corporation?s profits, for instance, the people who pay are the owners of its shares, who are (ultimately) individuals.

    …In other words, in addition to collecting about a quarter of GDP in taxes, governments in the US at all levels tacked on another 10.7% of GDP in future costs. Add that up and governments in the US spent over a third of national income in 2009. A far cry from the 9.2% that the USA Today article inadvertently implies.”

    In short, a tax on corporations is ultimately a tax on individuals, for reasons you surely understand. Which makes that 9.2% figure essentially worthless. I suspect you know this, too.

    But hey, it was a good opportunity to call people who hold different political views racists. And you apparently couldn't help yourself.

    *****

    1.) http://www.reuters.com/article/idUSTRE64B53W201

    2.) http://sometimesright.com/2010/05/usatoday-low-

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