On the recordMay 25, 2010
And it's pretty clear to me that the Republican Caucus wants to take us back to the failed policies of the Bush administration, the exact same failed policies that brought us to the worst recession we've seen since the Great Depression. And they do it using scare tactics. They go out to the American people and suggest that we're raising their taxes. Well, I was struck, as many people were struck, by the headline in USA Today on May 11. May 11: ``Tax bills in 2009 at lowest level since 1950.'' Since 1950. Now, you might ask, where does this come from? Well, it comes from the Bureau of Economic Analysis, where they say, Federal, State and local taxes, including income, property, sales and other taxes, consumed 9.2 percent of all personal income in 2009, the lowest rate since 1950. The lowest overall tax rate since 1950. On average, though, the tax rate paid by all Americans, rich and poor combined, has fallen 26 percent since the recession began in 2007. That means a $3,400 annual tax savings for a household paying the average national rate and earning the average national household income of $102,000. Every once in a while, the facts get in the way of the arguments being made by the Republicans because, time and time again, they will come down to the floor and talk about how the taxes are going up for middle-income Americans. But the proof is far different. You know, I know that, through the stimulus package, we lowered taxes.…
