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Taxes Still Lower Under Obama Than Bush

Taxes Still Lower Under Obama Than Bush

One of the biggest criticisms of the Obama administration from the right is that he is somehow mandating “socialism,” redistributing wealth by stealing money from the rich via taxes.

But the numbers just don’t mesh with the accusation — as the Associates Press points out, everyone is paying less in taxes than they were under President George W. Bush.

Everyone.

Via Think Progress:

[T]he AP reports:

[A]s a share of the nation’s economy, Uncle Sam’s take this year will be the lowest since 1950. [...] And for the third straight year, American families and businesses will pay less in federal taxes than they did under former President George W. Bush, thanks to a weak economy and a growing number of tax breaks for the wealthy and poor alike. [...]

But in the third year of Obama’s presidency, federal taxes are at historic lows. … in the current budget year, federal tax receipts will be equal to 14.8 percent of the Gross Domestic Product, or GDP, the lowest level since Harry Truman was president.”

The AP adds that even though federal income tax rates have remained unchanged, “many taxpayers are seeing their bills drop under Obama because of more generous tax credits for college students, working families, homebuyers and the working poor.”

Will this stop the Tea Party meme that Obama is raising taxes?  It hasn’t these last three years, why would it now?

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43 comments

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7:19AM PST on Feb 27, 2011

As with everything, the repubs lie. Taxes are lower, and have been lower, but you'll never hear a newscaster challenge a false statement.

1:50PM PST on Feb 19, 2011

Someone I know has to pay money back worse than ever and she was on Unemployment 9 months of last yr! She took a lower paying temp job and still has to pay 700 dollars for getting unemployment.

5:48AM PST on Feb 14, 2011

After some research,l I agree. it was a tough decision, because I have always maintained there was nothing lower than Bush, except possibly his mother.

12:30PM PST on Feb 12, 2011

Could I just say that when Obama became President there were many major problems going on, and some still exist, but when problems get worse over years and years, it will take years to repair the damage. From the little I have cared to learn about all this, I think that things are getting better, even if people can't see it. But they may be right and I might be wrong. I just think that maybe he might have promised too much, we expected too much, and got upset, because our problems are not being settled as fast as we hoped.
Also, I don't know much about taxes since I don't have to pay them yet, but I think my dad pays about as much as before.

9:45PM PST on Feb 10, 2011

In Tea Party Land all their fantasies are real.

9:37PM PST on Feb 10, 2011

About the same

6:53PM PST on Feb 10, 2011

Just got our notice from the Department of Defense Finance Accounting Service announcing an INCREASE in our taxes on our meager military retirement pay. Apparently while the legislature was busy wrapping themselves in the flag, holding out for tax cuts for the rich, they found a loophole to slip a hike in on the backs of those who could least afford it. We wrote a letter to our senators, McCain and Kyle, got a form reply back. LOL.

4:58PM PST on Feb 10, 2011

Amen : )

4:26PM PST on Feb 10, 2011

Reagan cuts taxes for the rich, and the largest deficit in American history is the result. Clinton comes in and balances the budget. Then Bush takes over, and for the first and only time in US history, cuts taxes during WARTIME!!! When the gov't needs all the money they can get, since war is not cheap. Of course, the only real reason to go to war was so his special interest cronies could rake in a fortune on special contracts, which they did. Of course he was not going to take a cut of their blood money to actually pay for the war. That is why we are talking about the debt ceiling, it has nothing to do with Obama or bailouts (which the GOP initially backed before Obama was even in charge, and only benefitted the banks who control ALL of the politicians).

4:14PM PST on Feb 10, 2011

When the Republyingtwofacedsackofshi*icans run out of non-ruling class victims to plunder they will have to raise taxes on the remaining 2% just to keep the politicians paychecks and pensions funded.

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