Sunday, October 16, 2011

Tax Rates Are Lowest in Sixty Years

The bonddad blog reports that, contrary to the constant rhetoric from the Right Wing, taxes rates as a percentage of GDP are lowest they've been since the Truman Administration. They are now substantially lower than during the Reagan Administration.

I refuse to call those of the Right Wing "conservatives." 

If you think it's better to put our nation's operating costs on a credit card than to pay the bill with fair and adequate tax revenues such as we had in the 1990s, you're no conservative.

If you pass two big tax cuts in 2001 and 2003 and don't bother to cut spending, you're no conservative.

If you launch a war in Iraq for dubious reasons but refuse to pay for it, you're no conservative.

If you pass a major new entitlement, Medicare Part D, the prescription drug benefit for seniors, and, astonishingly, the rules prevent the government from negotiating prices with drug companies, you're no conservative.

Well, if you do all that stuff and you're not a conservative, what are you?

You're working for the Top One Percent.

Chart source: Reuters


No comments:

Post a Comment