Tax Day fact check: Most Americans got a tax cut this year
After all, neutral economists insist that, under the Obama administration, the overwhelming likelihood is that your tax burden has gone down, not up...
From Huffington Post:
On Tuesday, a wave of protesters, upset with overly-burdensome taxation by the federal government, are set to descend on the nation’s capital to express their displeasure.
But does their anger reflect the truth about today’s tax rates?
After all, neutral economists insist that, under the Obama administration, the overwhelming likelihood is that your tax burden has gone down, not up. Even conservative economic analysts acknowledge that there really is no basis for middle- and working-class Americans to believe that they’re suddenly paying more.
“The only tax I think that has been put in place so far is an increase in the federal cigarette tax. I can’t think of another Obama tax that has gone in place so far,” said Chris Edwards, Director of Tax Policy Studies at the conservative Cato Institute. “I would say that people are angry because big taxes are coming down the road because of the gigantic deficit built up under Bush and continued under Obama.”
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