Posted by | April 16, 2010 10:46 | Filed under: Top Stories

The tea party crowd is oblivious to the fact that 95% of working Americans have received tax cuts during the Obama administration. But are they grateful? President Obama spoke at a fundraiser in Miami where he seemed quite at ease without a teleprompter. What had him perpelexed, though, was the lack of gratitude from those who falsely claim he’s raised their taxes.  As Think Progress notes, taxes are at their lowest levels in 60 years.

The Recovery Act has even been praised by the conservative Americans for Tax Reform because of its many tax breaks and tax credits.  And even though conservative commentators keep trying to scare people into believing that taxes either have been raised or will be raised for most Americans, the facts don’t bear that out.

* Raise the top two income tax brackets from 33 percent to 36 percent, and from 35 percent 39.6 percent

* Raise the capital gains tax rate from 15 percent to 20 percent for married filers with incomes above $250,000

* Raise the tax on dividend income from 15 percent to 20 percent for married filers with incomes above $250,000

Gerald Prante, a senior economist for the Tax Foundation, a non-profit, non-partisan tax research organization, said these tax increases would likely only directly impact about 2 to 3 percent of tax returns.

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Copyright 2010 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.