I’m getting really tired of these right-wing corporation kissers who are demanding MORE TAX CUTS when we are already taxing less as a percentage of GDP than we have since 1950 (and if you remember at that point, the upper 1% of rich Americans was being taxed close to 90%).
The Bureau of Economic Analysis (BCA) puts it this way in it’s report:
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.
A. If we are going to cut expenses let’s bring home the troops and cut the military…
Of course, we are going to see the Republicans hang on to the Paul Ryan plan because they have all but married it. Don’t expect changes from the House then. And hope that Obama and the Senate don’t knuckle under. Just get us to the 2012 elections and eject the idiots who have made the House the non-voice of the people.
- The New GDP Data Is Bad. The Hidden Data Behind It Is Worse (freakonomics.com)
- You Think You’re Paying Too Much In Taxes? (mint.com)
- New GDP Data: There’s Bad News, Hidden in the Details (economistsview.typepad.com)
- N.J. slips to third in nation for personal income (nj.com)
- U.S. tax burden at lowest level since ’58 (usatoday.com)
- Modest growth forecast for Tennessee economy (knoxnews.com)
I was surprised this morning to hear Ben Stein on CBS Sunday Morning, who I know is a conservative and who has talked about the need for budget cuts before, speak this morning on the ratio of the Deficit to the Gross Domestic Product (GDP). Surprised because:
- he had good things to say about Bill Clinton and his Treasury Secretary Robert Rubin who left office giving us a surplus… and
- he stated that the Republicans would have to agree to raising taxes…especially on the Rich Americans who, he said, there are plenty of and they CAN afford it.
I’m even more surprised because, just before the 2010 elections, he did a Sunday Morning piece complaining that, as a rich guy, he was paying too much in taxes and didn’t want taxes on the rich raised. Something has changed his mind… which means other conservatives can change their minds as well. Whether this applies to Tea Party types is your guess.
Now, he did also say that the Democrats were going to have to agree to budget cuts, but they should be able to look at the military and some of the other areas we are not looking at now (I assume he was talking about oil subsidies and their related entities.)
You know, I felt pretty good about Ben Stein this morning… I usually haven’t felt good about him since he stopped doing a comedy quiz show with Jimmy Kimmel. But this morning I’ll give him the benefit of my appreciation for his ilttle editorial… and I hope some of these politicians heard it.
- NCRP Video: Ben Stein on Retirement Planning Part 3 – Variable Annuity (theinsurancebarn.wordpress.com)
- Echoes Of 1995 In Rhetoric On Debt Ceiling (npr.org)
- Robbing the Poor …to Give to the Rich Who Made Them Poor (worldtruthtoday.com)
- Bill Clinton: Pharma Got a “Good Deal” in Health Reform (invivoblog.blogspot.com)
- Deficit reduction: Is Obama’s $4 trillion goal big enough? – Christian Science Monitor (news.google.com)