| One third of the "Obama Stimulus Package" was tax cuts for the middle class. |
| What if a president cut Americans’ income taxes by $116 billion and nobody noticed?
[A] provision of the stimulus bill ... cut taxes for 95 percent of working families by changing withholding rates Democrats ... signature tax cut of the past two years... decreased income taxes by up to $400 a year for individuals and $800 for married couples In a New York Times/CBS News Poll last month, fewer than one in 10 respondents knew that the Obama administration had lowered taxes for most Americans. Half of those polled said they thought that their taxes had stayed the same, a third thought that their taxes had gone up, and about a tenth said they did not know. Source: "From Obama, the Tax Cut Nobody Heard Of" By MICHAEL COOPER - NY Times - October 18, 2010 [T]he “Making Work Pay” tax credit. [part of the 2009 stimulus law so reviled by the Republican Party] ... has cut taxes by as much as $800 a year for couples making up to $150,000 and $400 annually for single taxpayers making up to $75,000. The extra cash has been delivered through reduced withholdings in each paycheck. Under the 2009 law, a family with two children and a single parent working full time at the minimum wage qualifies for annual child tax credits of $1,725. If that credit expires, the family would receive $248. Source: "One-Note Tax Debate" - NY Times - October 20, 2010 |
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