March 19, 2010

MILLARDISM:

The Misinformed Tea Party Movement: For an antitax group, they don't know much about taxes. (Bruce Bartlett, 03.19.10, Forbes)

Not everyone follows these numbers closely, and Tea Partyers may have been thinking of figures from a few years ago, before the recession when taxes were higher. According to the CBO, the highest figure for all federal taxes since 1970 came in the year 2000, when they reached 20.6% of GDP. As we know, after that George W. Bush and Republicans in Congress cut federal taxes; they fell to 18.5% of GDP in 2007, before the recession hit, and 17.5% in 2008.

Posted by Orrin Judd at March 19, 2010 6:06 AM
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