Thursday, May 13, 2010

The Taxation Fallacy

That roar you've been hearing is conservative Republican huff-and-puff as they show their feathers of newly-found financial fortitude.

Put another way, Republicans caused the damned problem, so it's only fair that they harangue the other guys until such time as draconian measures are taken to reintroduce financial restraint and fill the budget coffers, which the GOP can use to beat Democrats over the head while chorusing about "tax and spend" liberals.

Oops! What are these little things over here? Pesky facts?

Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010.

“The idea that taxes are high right now is pretty much nuts,” says Michael Ettlinger, head of economic policy at the liberal Center for American Progress.
Curses. Right-wing boneheads foiled again!

Via Balloon Juice

Image via Wikimedia Commons

No comments:

Post a Comment

Please tell me what you think.