With the Bush tax cuts of 2001 and 2003 once again set to expire at the end of this year, President Obama on Monday once again proposed temporarily extending them only for families earning less than $250,000 annually. Predictably, his Republican rival Mitt Romney called the return of upper-income tax rates to their slightly higher Clinton-era levels a "massive tax increase" for "on families, job creators, and small businesses."
But while Romney's regurgitation of these tired Republican talking points comes as no surprise, it doesn't make them any more true. Here, then, are 10 things the GOP doesn't want you to know about taxes.
(Click a link to jump to the details for each below)
President Obama Cut Taxes for Almost All Working Americans
Tax Cuts Don't Pay for Themselves
Almost All Working Americans Pay Taxes
The GOP's "Job Creators" Don't Create Jobs
Low Capital Gains Taxes Fuel Income Inequality...
... But Not Investment
The Estate Tax Has Virtually No Impact on Family Farms and Businesses
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