Thursday, April 15, 2010
Tax Day Fact Check: Most Americans Got A Tax Cut This Year
Link to posting at Huffington Post
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. ...