Republicans Don't Believe Taxes Are Lower Under Obama

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eschwerin@rosemontseneca.com

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2011-06-03 12:01:23

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Hunter Biden <hbiden@rosemontseneca.com>

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Posted on Friday Jun 3rd at 7:11am
When House Republicans met with President Obama earlier this week to discuss the debt ceiling, The Hill reports GOP members engaged in a lot of "eye-rolling" over his assertion that tax rates are lower today than they've been in decades.

Said Rep. Terry Lee (R-NE): "He made a comment like the tax rate is the lightest, even more than Reagan."

Said Rep. Darrell Issa (R-CA): "We learned we had the lowest tax rates in history ... lower than Reagan!"

Of course, as Jed Lewison points out, total federal tax revenues as a percentage of GDP averaged 18.2% during Reagan's presidency, reaching a low point of 17.3% in 1984. During Obama's term, total federal tax revenue as a percentage of GDP have averaged 14.9%.
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Eric D. Schwerin
eschwerin@rosemontseneca.com

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