According to the Tax Policy Center, Federal taxes are lower than at any time since 1955. Obama has now reduced taxes by more than any president since Dwight D. Eisenhower.
According to the Orange County Register, “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.”
So where are all the fucking jobs and economic growth that’s supposed to shower down upon us like manna from heaven? And how come no one ever challenges the righties on their steadfast belief in tax cuts as economic stimulus? Every time a Bob Schaeffer or Tweety or George Stuffinenvelopes interviews a GOPer about this, we get the same old line about tax cuts stimulating the economy and no one ever says, “well, it hasn’t yet!” I just don’t get it. It’s become almost ingrained in the national psyche that right wing voodoo economics works, when in fact it’s a fairy tale.
You want to know why a big swath of America votes against its own self-interest? It’s something every snake oil salesman, self-help guru and fad diet author knows: tell people what they want to hear and they’ll buy it every damn time. It doesn’t even have to work, as long as the people really, really want it to work. People want to think "the secret" to winning the lottery is to repeat some prosperity affirmation over and over. People want to think they can lose weight eating bacon and eggs and eschewing the toast and fruit. And people want to think the key to kickstarting the economy is to not pay taxes or invest in the country at all, but instead take all the goodies and let some invisible, magical force make everything alright, somehow.
This is also why right-wing Christianity is so compelling: people want to believe that Jesus preached self-reliance and pulling yourself up by your bootstraps, they want to justify ignoring the human and environmental toll our standard of living exacts. We don't want to change, because we're human beings and we're more afraid of change than anything else.
Doug J has more ....
.... as does Andrew Sullivan:
The much bigger problem with the GOP plan is its view of taxes. Even though we have historically low income tax rates for high-earning individuals, even though revenues have collapsed in the recession, even though we have empirically discovered that big tax cuts have not generated more economic growth, the GOP still insists on reforming taxes not to raise revenue but to reduce it. This is where the whole thing gets surreal. The very Laffer untruth that sank America into debt in the early 1990s s one still being peddled against all the relevant evidence to guide us through the next few decades. In my view, if we maintain that ideological fantasy, the US will become a banana republic in short order.
Yes, dear. Thanks for noticing. This is why we call them “Banana Republicans.” Again: the GOP is no longer the “Daddy Party.” They’re the “tell the chumps whatever they want to hear” Party. Weave some feel-good fantasy to keep the kids happy so they can go off drinking with their buddies and gambling at the Wall Street casino.
It's not surreal, sweetie. It's pathological.