Don’t tell the Tea Party, but taxes in America are at a 30-year low thanks to President Obama. Looking at the latest numbers from the Congressional Budget Office – which are from 2009 – the average federal tax rate for all household in the nation is just 17.4%. It should be noted that quarter-billionaire Mitt Romney pays less than that average.
Still – the 17.4% rate is well below the 30-year average of 21% - and well-below what was paid under George W. Bush in 2003, which was 19.4%. Over the next four months until the election, Republicans will lie and say the President has raised taxes. That’s clearly not true. But these numbers do prove that with taxes at a 30-year low, then the very wealthy among us can afford to pay their fair share again.