A Taxing Burden<quoted text> It is impossible for people like you to ignore the fact that all the racists magically disappeared in this country. Now go on. Tell us how the Tea Party was just concerned about Liberty or some other garbage while they were crying about taxes while 95% of the country was getting a tax break and taxes were the lowest they had been in 50 years. Sell it to yourself because hard working, tax paying white Americans like myself aren't buying it.(Also see overwhelming majority of the country) Now take your 30% approval rating, two lost presidential elections and call yourself the silent majority.
"Obama also argued that the "wealthy" could afford to pay more in taxes since their "tax burden" is the lowest it has been in 50 years. But it depends what measure one uses. The CBOís most recent analysis showed that the average federal tax rate for high-income taxpayers was its lowest in 1986 during the Reagan administration.
Obama: I say that at a time when the tax burden on the wealthy is at its lowest level in half a century, the most fortunate among us can afford to pay a little more.
The White House based that claim on its own analysis of 2005 tax data for the 2010 Economic Report of the President. It calculated the effective tax rate of individuals making more than $250,000 a year and those making more than $2 million, by dividing the amount of income by the amount paid in federal income and payroll taxes. The figures were also adjusted for wage growth, the report said.
"This analysis suggests that the effective tax rates that applied to high-income taxpayers reached their lowest levels in at least half a century in 2008," the report said.
But the White Houseís own analysis showed a similar tax burden in the late 1980s. Here is the administrationís graphic representation of the effective tax rate for those income groups:
It does show those making more than $250,000 and those earning more than $2 million paying a lower effective tax rate in 2008 than in 1960. The decline was much greater for those making more than $2 million. But both groups of high-income earners were paying just about the same rate in the late 1980s as they were in 2008, according to the White House graph."
Now go back to your liberal blogs and find some more lies for us.