Topic: Americans Paid Lowest Taxes in 30 Years due to Obamas Efforts

[imabcynic]

Y'all still buying into that Fox News bullsh*t over here? 






Americans paid the lowest tax rates in 30 years to the federal government in 2009, in part because of tax cuts President Obama sought to combat the Great Recession, congressional budget analysts said Tuesday.

A sharp decline in income — especially among the wealthiest Americans, who pay the highest tax rates — also played a role, according to the report by the nonpartisan Congressional Budget Office. Household income fell 12 percent on average from 2007 to 2009, with income among the top 1 percent of earners decreasing by more than a third.

Still, at the very moment anti-tax protesters were emerging as the most powerful force in American politics, handing Republicans landslide control of the U.S. House, the data show that people were sending the smallest portion of their income to the federal government since 1979.

During Obama’s first year in office, the average tax rate paid by all households fell to 17.4 percent, down from 19.9 percent in 2007, according to the CBO. The 2009 rate was significantly lower than the previous low of 19.4 percent in 2003 and well below the 30-year average of 21 percent.

The tax burden — which includes all forms of federal levies, including income, payroll and corporate taxes — lightened for households across the board, the result in part of Obama’s signature “Making Work Pay” tax credit and other tax cuts passed as part of the 2009 economic stimulus package, the CBO said.

The lowest fifth of earners benefited the most, sending just 1 percent of their before-tax income to the federal government in 2009, compared with 5.1 percent in 2007. The top fifth of earners paid 23.2 percent, compared with 24.7 percent in 2007.

The average federal income tax rate also reached a new low, settling at 7.2 percent in 2009 — two points lower than in 2007, the CBO said. Although detailed data are available only through 2009, the CBO said more recent estimates suggest that effective tax rates remained at historically low levels in 2010 and 2011.

“However much Republicans try to perpetuate false claims, the facts speak for themselves: Tax rates have never been lower than under President Obama,” said Rep. Sander M. Levin (Mich.), the senior Democrat on the House Ways and Means Committee, which has jurisdiction over taxes.

http://www.washingtonpost.com/business/economy/in-2009-americans-paid-lowest-tax-rates-in-30-years-to-federal-government/2012/07/10/gJQAWc5bbW_story.html

[Calc]

And the national debt has never been higher.

[Fudd]

Obviously, the Bush tax cuts that Obama wanted to scrap are still working and I'm LMAO that someone actually believes
the give-aways in Obama's stimulus was a good thing.
I wonder if the clowns at the Washington Post still believe that ObamaCare is tax free and won't add to the deficit?

Bush (a liberal) gave us $4.899 trillion in debt during his 8 years.
Obama (the socialist) has now given us  $5.939 trillion of debt in less than just 4 years.

The country is broke!
States are going bankrupt!
Real Unemployment is at depression levels!
Obama's class warfare was a joke 4 years ago and now sounds like a broken record!
Obama's race card playing has divided the country!

[armymom]

 
I see that one of our resident liberals is still bat shit crazy...

[Fudd]

I see that one of our resident liberals is still bat shit crazy...

The Kool-Aid that people drank 4 years ago seems to have had some long lasting effects.   

[speedy]

I saw some ginormous bats at the zoo today.  I thought of liberals immediately.  The bats just "hang around", do nothing all day and get fed a feast everyday to make sure they have the right "supplements" everyday.       

[Fudd]

imabcynic, Would you like to come back and address why Obama increased the tax
(Beginning January 1, 2013) on those with high medical expenses?
Better yet, maybe you could explain how it makes sense to tout a plan that is supposed to make medical care more affordable,
and then for those who encounter high medical expenses, cause them to pay higher taxes?   


Beginning January 1, 2013, the 7.5% AGI floor for the medical expenses deduction
will increase to 10% for all taxpayers.

Taxpayers who itemize their returns can deduct medical expenses that exceed 7.5% of Adjusted Gross Income (AGI).
Taxpayers who calculate the Alternative Minimum Tax (AMT) may deduct for medical expenses in excess of 10% of AGI.

Scheduled Changes
Beginning January 1, 2013, the 7.5% AGI floor for the medical expenses deduction will increase to 10%
for all taxpayers, with a three-year exemption for seniors (age 65 and above) and their spouses.

Raising the AGI floor on the medical expenses deduction is, in effect, a tax on high medical bills. Taxpayers with recurring medical expenses who qualified for the deduction in 2012 may fall short of the AGI requirement in 2013, potentially increasing their tax burden by hundreds of dollars.

For example, an average American household with income of $45,000 and high medical expenses will lose
up to $1,125 in deductions as a result of the tax. Assuming the full amount of disallowed deductions
and a marginal tax rate of 15% in the aftermath of Taxmageddon, this will increase the family’s tax burden by $169.
A household with income of $100,000 and high medical expenses, meanwhile, would lose up to $2,500 in deductions.
At a marginal rate of 28% (again courtesy of Taxmageddon), this will raise the family’s tax burden by $700.

This punitive increase is regressive as well. Taxpayers subject to the AMT, who tend to be wealthier than average,
already calculate their medical expenses deduction based on the higher, 10% floor.
The Taxmageddon increase on ordinary Schedule A filers, then, will almost exclusively affect middle-income taxpayers.
This will be devastating to many Americans who are already financially vulnerable to medical catastrophes.

Full Article - http://atr.org/obamacare-imposes-facto-tax-increase-high-a7044

[armymom]

Here's the rub.....they're called "Bush's tax cuts", not Obama's. But I'll be willing to put Obama's name on them when he raises them, which he is trying to do. I saw an article that raising the "rich's taxes" will fund our government for 8 f*&ng days. 8 DAYS!!!!!! Are all you liberals that fucking bad at math? (Rhetorical question) (we know you are)

[speedy]

Here's the rub.....they're called "Bush's tax cuts", not Obama's. But I'll be willing to put Obama's name on them when he raises them, which he is trying to do. I saw an article that raising the "rich's taxes" will fund our government for 8 f*&ng days. 8 DAYS!!!!!! Are all you liberals that fucking bad at math? (Rhetorical question) (we know you are)

We know they are because they are taught by union liberal teachers that just "teach" to the standardize tests.......MHO!!!! 

[dhw]

Damn right Americans paid lowest taxes in 30 years.  Also, have more people out of work since the depression.  If you don't work, you have no income, and you pay no taxes.  Ask all dem to kiss you, they already intercoursed you, by voting for Obama.

[Steve.Deserved.Better]

Damn right Americans paid lowest taxes in 30 years.  Also, have more people out of work since the depression.  If you don't work, you have no income, and you pay no taxes.  Ask all dem to kiss you, they already intercoursed you, by voting for Obama.

Another WIN!   

[Country Lady]

        I totally can understand why taxes are the lowest since the depression.  It's because the unemployment
        rate is the highest in 20 years!  Those who have no jobs do not pay taxes!  I find the majority of folks
        do very little research on their own.  They read biased articles on the internet or pick up bits and pieces
        from a news article or television.  Go to the Department of Labor and look at the statistics!!  It's all there.
        I do agree with Obama on one thing..."it's a boy eat dog world out there"  and it's going to continue
        unless people can start going back to work...guess it's time to start hiding spot and fluffy! 


         Country Lady

          The light you see at the end of the tunnel is the front of an oncoming train
       
       

[armymom]

        I totally can understand why taxes are the lowest since the depression.  It's because the unemployment
        rate is the highest in 20 years!  Those who have no jobs do not pay taxes!  I find the majority of folks
        do very little research on their own.  They read biased articles on the internet or pick up bits and pieces
        from a news article or television.  Go to the Department of Labor and look at the statistics!!  It's all there.
        I do agree with Obama on one thing..."it's a boy eat dog world out there"  and it's going to continue
        unless people can start going back to work...guess it's time to start hiding spot and fluffy! 


         Country Lady

          The light you see at the end of the tunnel is the front of an oncoming train
       
       

Welcome Country LaDY. But Obama should have said "it's a President eat dog world out there". 

[dhw]

Why would you want to go to work?  You can make more clear money on welfare.

[speedy]

Why would you want to go to work?  You can make more clear money on welfare.

And as one 3rd generation welfare-ite told a friend of mine: "We are taking the whole family to Disney World again this year".....  It took us years to save enough to take our family of 4 to Disney.......