A Little Truth About Obama and Your Taxes
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|Fri, 12-02-2011 - 7:24am|
I've been hearing a lot of stuff about all the taxes Obama and the current crop of 'tax and spend' Democrats are supposedly responsible for. Here is the reality.
In 2009 the Democratic Congress passed Obama's American Recovery and Reinvestment Act, which contained tax cuts totaling about $320Billion - or about 50% larger in total effect than the Bush Tax Cuts of 2000. About 95% of US families received a portion of this tax relief. Obama followed up on ARRA with the Payroll Tax Cut of 2010 which further cut taxes about $109Billion for about 98% of American families. That's a total of $429Billion in tax cuts in less than 3 years in office.
Even the distorted numbers of the 1% mouthpiece Americans for Tax Relief could only come up with about $100Billion in Obama 'tax increases' - most of which are based on 'taxes' in the form of surcharges related to the Patient Protection and Affordable Care Act. Of course this fails to address the fact that if they get ill, without insurance, these people will cost us taxpayers a lot more money to our healthcare system in the form of higher costs due to continuing high rates of people unable to pay their bills for urgent and catastrophic care.
So, unless you're one of those fortunate enough financially to be in the top 5% in our economy, next time you get your paycheck, give President Obama a quiet little thank-you instead of some unjustified hate.