"Citizens for Tax Justice, a self-described non-partisan organization, released a report on Tuesday that read: "The 2009 economic stimulus bill actually reduced federal income taxes for tax year 2009 for 98 percent of all working families and individuals." This total includes the 95 percent of working families that will or have received tax credits in the range of $400 to $800.
The health care bill passed by the administration, meanwhile, includes a tax credit that could cover up to 35 percent of the premiums a small business pays to insure its workers. The Recovery Act, meanwhile, included such tax breaks as a $1,500 credit for home energy improvements, and an $8,000 credit for first-time home buyers.
It has been a buffet of tax breaks and credits offered by this administration (occasionally to the chagrin of progressive economists, who want more focus on stimulative federal spending).
Yet polling numbers indicate that Americans are barely aware of these developments. Indeed, a good chunk of the country believes it has been saddled by this administration with tax hikes. Back in mid-February, a full 24 percent of respondents to a CBS News/New York Times poll said that their taxes had increased under Obama. Fifty-three percent said they had stayed the same. Only 12 percent thought their taxes had gone down.
"Belief is triumphing over reality," explained Bob McIntyre, director of Citizens for Tax Justice. "Part of it is they watch the wrong television shows and believe it. Part of it is the tax cut that went to almost everybody, the making work pay credit, was dribbled out... people didn't get a check. They paid lower taxes and might not have noticed it.
"It is like arguing whether Jesus rose from the dead," McIntyre concluded. "If you believe it, you believe it." "
speaking of which - how'd ya fare this year? refund?
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