Thursday, July 7, 2011

Is he ignorant or is he lying?

The President has claimed more than once that income tax rates are lower now than in recent decades. He did it again yesterday. This claim is an utter falsehood. It's not even close to accurate. It bears little to no resemblence to reality. It is laughably easy to fact check.

Here are some accurate statements: The current maximum marginal income tax rate has been 35 percent since 2003. It was above 38 percent from 1993 through 2002. In 1991 and 1992 it was 31 percent. By the end of the Reagan administriation in 1989 it was 28 percent. When Reagan took office in 1981 it was 70 percent.

I hope that President Obama is lying. We're in pretty deep trouble if he actually knows so little about taxes.