Here are some facts that many Americans simply don’t want to hear and quite a few refuse to believe (via the Orange County Register):
While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.
For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it’s well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s. . .
The recession contributes to lower taxes because many incomes have stagnated or fallen, and fewer retail sales mean less sales tax. But low tax brackets and a series of special deductions are primary factors in the reduced tax burden.
Republican dogma holds that lower taxes stimulate jobs and, therefore, greater government revenue. If that were true, the current unemployment rate should be below 5 percent!
But, of course, that voodoo isn’t true — no matter how desperately some folks want to believe it. The proof is in the last 20 years. During the Clinton era, taxes were higher, jobs were plentiful and the budget was balanced. Clinton’s predecessor, George W. Bush, slashed taxes, started a tsunami of red ink and presided over the weakest era of job creation since World War II.
Those are facts, folks.