|The media has obsessed about Obama's plan to roll back
the Bush tax cuts for the
wealthiest Americans; from 35% to 39.6%
- even asking if that makes him a
But the tax rate the wealthiest Americans paid on the top portion of their earnings, at the end of Reagan's first term was 50%. Under Nixon: 70%. Under Eisenhower: 91%!
For all the whining about rolling back Bush's goofy tax cuts, the truth is - Obama's plan cuts taxes for 95% of working Americans and closes huge tax loopholes for oil companies, hedge funds and corporations that ship jobs overseas so we can invest in priorities to get our economy moving.