For the 3rd year in a row Americans have seen their taxes lower with President Obama then they did under Bush.
Just before this past Sunday’s Super Bowl, President Obama gave an interview with Fox News pundit Bill O’Reilly and in the interview the President told O’Reilly "I didn’t raise taxes once. I lowered taxes over the last two years."
The Associated Press (AP) wanted to fact check the Presidents statement and asked the Congressional Budget Office for the numbers over the last two years, and the CBO showed that President Obama was correct.
AP Report excerpt:
As 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 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."
A study in 2010 by USA Today showed the same thing, that Americans were taxed at the lowest rate since 1950.
Just how easy is it to promote the idea that Americans have been paying more in taxes under President Obama then they did under former President Bush? Oh, its real easy, just ask Fox News who helped to create the Tea Party that we see today by promoting anti-government protest rallies. How can any News organization call itself a News organization when it creates News by promoting anti-government rallies and then broadcasts those rallies calling it News.
The Tea Party which first started with Libertarians who supported Rep. Ron Paul for President, was hijacked by the GOP and its propaganda channel Fox News to attack President Barack Obama and the Democrats that took control of Congress.
Now for the 3rd straight year, Americans again will be paying the lowest tax rates since 1950.
The "Tea Party which they say stands for "Taxed Enough Already" held several anti-Government protests against the President of the United States and the Democrats in congress at the urging of Fox News and Glenn Beck demanding that their taxes be lowered.
But Fox and Glenn Beck didn’t bother to tell the "Tea Party Folk" that they are paying less in taxes under Obama then they did under Bush. In fact Fox News, Glenn Beck and the rest of their echo chamber told their audience just the opposite, and to this day they repeat the lie over and over again to reinforce the lies with their audience.
During the lame duck session in congress a few weeks back, the Republicans told the Democrats that they have now taken unemployed Americans and middle class working families hostage until the top 2 percent of the richest Americans are allowed to keep their Bush tax cuts that were to expire December 31, 2010.
President Obama and the Democrats were not going to allow the republican party to simply toss 2 million Americans out onto the streets at Christmas time just because their unemployment extensions were about to expire, and the Democrats also wanted to maintain the Bush tax cuts and the Obama tax cuts for the other 98 percent of Americans, so they were forced to comply with Republican demands that the rich keep their low tax rates.
The GOP, Fox and their Corporate donors are smiling all the way to the bank because they were able to drive the "Tea Party Folk" into a frenzy all based on a lie.