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Taxes Under Obaminater Lowest Since 1958
Posted by: GoBama ()
Date: May 09, 2011 05:18PM

Americans are paying the smallest share of their income for taxes since 1958, a reflection of tax cuts and a weak economy, a USA TODAY analysis finds.

The total tax burden — for all federal, state and local taxes — dropped to 23.6% of income in the first quarter, according to Bureau of Economic Analysis data.

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Re: Taxes Under Obaminater Lowest Since 1958
Posted by: OhNots ()
Date: May 10, 2011 09:10AM

As usual Republican statements were completely off about raising taxes. We all know only Republicans f us over when it comes to the US economy.

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Re: Taxes Under Obaminater Lowest Since 1958
Posted by: Britdrnva~ ()
Date: May 10, 2011 09:33AM

What's specious to me is the argument that the Republicans keep spewing like it's gospel that by lowering taxes at the highest levels we will see the trickle down work. Under Bush's tax cuts (extended under Obama til 2012) we've seen the lowest effective tax rates since 1931 for the richest classes. Under the Republican mantra you'd think the economy would be booming but it's only going great for the richest classes.

I pay less taxes as an overall percentage than some CNA's I talk to (unless they are lying or exaggerating) but if I recall even Warren Buffet said something similar that he pays less tax than his secretary does.

It doesn't make sense and the tax rate should be made more progressive. On top of that we need to end both the wars, scale back our military spending (we still spend more than just about every other major nation combined...to what end!?) and invest more in the USA itself. Of course none of this will happen...but that's my two cents worth.

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Re: Taxes Under Obaminater Lowest Since 1958
Posted by: Repube ()
Date: May 11, 2011 09:22AM

I find it hard to believe anything Republicans say these days.

1) They are against same sex marriage, but once a year we hear of some Republican caught in a gay love affair.

2) Republicans say they will "lower taxes." In fact they end up raising taxes.

3) Republicans say deregulation is the way to improve markets. Fact is it destroys markets by lowering consumer expectations and runaway greed by corps.

4) Republican say we need to lower the national debt, yet they are large contributor by far to the national debt.

Republicans are a bunch of hypocrites! Those are the facts!

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Re: Taxes Under Obaminater Lowest Since 1958
Posted by: Calcs ()
Date: May 13, 2011 12:27PM

Not sure how this was calculated?

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