I have to admire the Heritage Foundation: they are experts at staying (somewhat) factual while, well, lying.
Here, I discuss a Heritage Foundation meme.
Note: for those who are unfamiliar, the Heritage Foundation is a right wing thinktank and the inventors of Obamacare.
The story is below the fold and is cross posted at my personal blog.
Wow, that's pretty bad, right? Well...I admit that I didn't check the math, but "Obama's tenure" refers to when he took office (2009) and this figure refers to revenue from taxes.
So let's think a bit:
1. In 1991, my taxes when up dramatically, as they did in 1981. Gee...why is that? Oh yes, it was due to a large jump in income!
Yes, the horrific job losses have stopped and we've been ADDING jobs, albeit at too weak of a rate to have a robust recovery:
2. Oh yes, the wealthy have done rather well, haven't they. So if they do well, they pay more taxes. The market has done ok too....
Now the Heritage Foundation does discuss some of the rate hikes that are oh so terrible, so let's see some of what they say:
The 13 Tax Increases of 2013Oh my goodness, are you kidding me? This is what the REPUBLICANS IN CONGRESS wouldn't pass! These people are shameless.
1. Payroll Tax: increase in the Social Security portion of the payroll tax from 4.2 percent to 6.2 percent for workers. This hit all Americans earning a paycheck—not just the “wealthy.” For example, The Wall Street Journal calculated that the “typical U.S. family earning $50,000 a year” would lose “an annual income boost of $1,000.”
Look at the rest of the list and who they affect: joint incomes of 250K and up and some corporate rates. Are you outraged as yet? :-)