Admittedly, I’m a bit late with this particular post since it was published on December 22nd, but only because I saw it for the first time yesterday.
It’s another good one from Mario Piperni‘s great collection of articles accompanied by his extraordinary illustrations.
You knew that the boys and girl vying to become the Republican presidential nominee next year were lying through their teeth but you may not have known by how much.
If you had to guess whether President George W. Bush or President Barack Obama cut taxes more in his first term, which one would you choose? Probably President Bush, right? After all, the “the Bush tax cuts” were massive. And President Obama is the one calling for the expiration of some of those tax cuts. He’s also pushing for more revenue as we try to address our long-term fiscal imbalance.
Given all that, you could be forgiven for guessing that President Bush is the bigger tax cutter. But you’d actually be wrong. By the end of his first term, President Obama will have signed into law a series of tax cuts that, taken together, exceed the value of those signed into law by President Bush.
By 2012, bills signed into law by President Obama will have reduced tax revenues by about $900 billion, or 1.5 percent of GDP. And if he gets his way, and Congress passes another $250 billion in cuts, the total of all Obama tax cuts will rise to about 2 percent of GDP. That’s close to twice as big as the tax cut tally at the close of President Bush’s first term.
In graphic form, here’s what it looks like.
But again, don’t wait for any of the clowns running in the GOP primary to mention any of this. They won’t. In fact they’ve been saying quite the opposite in their attempt to paint the President as Attila the Tax Raiser. Not that any of it really matters. The fact is that if you were able to present the tax-cutting numbers to your average I-HATE-OBAMA wingnut, it would not faze them a bit. When it comes to what they believe to be true (aka “I heard it on Fox”) as opposed to empirical data, the former always wins. We’ve seen it with the health care bill, the stimulus, climate change and just about any other hot button issue.
The right has been wildly successful at creating a brand of reality which has little to do with facts, data or truth and successfully selling it to their devout followers. So go ahead and try telling that Fox-loving, Obama-hating guy in the next cubicle that President Obama has cut taxes at twice the rate that Bush 43 did in his first term and what you’ll get back is a snicker and a “yeah right, libtard”.
No one messes with a wingnut’s reality. No one.
- Obama on payroll tax cut: “Enough is enough” – CBS News (cbsnews.com)
- Obama Makes Big Victory Official (huffingtonpost.com)
- Payroll tax cut, a crucial victory for Obama (thehindu.com)
- Payroll Tax-Cut Extension Sets Up 2012 Fight Over Longer Plan (businessweek.com)