Pelosi: Lowest taxes since 1950 because of Democrats changes in tax policy

Speaker Pelosi addresses the OC Democrats - Photo: Dan Chmielewski

Washington, D.C. – Speaker Nancy Pelosi issued the following statement today on a new analysis by USA Today on reports from the Bureau of Economic Analysis that last year, Americans’ paid their lowest level of taxes since 1950:

“Democratic leaders in Congress and President Obama have produced the lowest tax bills for the American people in more than half-a-century.  Because of changes Democrats have made in tax policy, more than 100 million Americans have more money to support their families, consumers have more to spend at local businesses, and our middle class is reaping the rewards.

“Our economic recovery bill alone cut taxes for 98 percent of all Americans, saving taxpayers hundreds of billions of dollars, encouraging hiring, spurring innovation, and strengthening small businesses. You have to go all the way back to Harry Truman – another Democratic President – to find tax bills this low. 

“Despite all their rhetoric, when the time came to support lower taxes for 98 percent of Americans, Republicans in Congress voted ‘no.’  Not a single Republican voted for tax relief, even in the midst of the greatest recession since Herbert Hoover that they created through the policies of the Bush Administration.  By siding with Wall Street, Big Banks, and special interests, Congressional Republicans threaten to reverse this progress and return us to an era of devastating job losses, fiscal irresponsibility, and financial chaos.  We will not allow that to happen.”

Well, this kind of shots down the FALSE GOP theory that Democrats are taxing us to death.

  2 comments for “Pelosi: Lowest taxes since 1950 because of Democrats changes in tax policy

  1. lefty
    May 14, 2010 at 6:40 am

    I don’t know how long the nation can continue to deficit spend – while at the same time discouraging the retention, & creation, of good paying (& tax generating) jobs for average Americans, & their families?

    We’ve encouraged the exportation our USA families (often union) jobs (NAFTA, PNTR) acusing them of being “overpaid,” – yet allowed greedy Wall Street Bankers to run amuck, yet again (Gramm/ Leach/ Bliley Act), filling their bank accounts with blood money.

    Then, to top it all off, the trillion dollar+ international military actions.

    Truly, how long can we sustain this madness?

  2. Morgan
    June 6, 2010 at 9:20 pm

    You are failing to look at the big picture here. Just as subprime mortgages assisted in creating a housing market bubble, by keeping taxes and interest rates at record lows while borrowing and spending beyond anything we’ve known before, the Obama administration’s policies are creating a federal spending bubble that will one day burst. When it does we’ll be facing crushing yearly payments on our debt that will near a trillion dollars! We can never pay that off, we’ll be forced to massively inflate our currency, default on foreign debts, actions which will leave our economy in shambles and our government unable to borrow.

    Tax relief cannot stimulate the economy in its current state. People are saving, not spending, any tax relief they receive. They aren’t stupid and know tough times will continue while the federal government remains out of control as it has been the past nine years. The economy cannot begin to heal while our financial institutions remain paralyzed, thanks to the combined policies of the Bush and Obama administrations.

    You must wake up and realize that the so-called Democrats in charge of the federal government right now care nothing for the people. It’s a continuation of the Bush administration with some new faces and new spin. They’re buying your votes with low taxes while making a power grab before reality comes crashing down in the next few years.

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