Gov. Palin fact check
October 17, 2010
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Ready for those Russians
Perhaps ex-governor Palin should return to the community college library and check facts before she pontificates about federal taxes. Yesterday speaking in California, Ms. Palin stated that “overtaxation is killing jobs.” She conveniently ignores the fact that top tax rates are at near historical lows and they have been since the Reagan cuts sent the top rate to 28% in 1988. (BTW, Replublicans also fail to mention that fiscal stalwart Reagan’s Tax Reform Act of 1986 increased business taxes to compensate for the reduction in individual tax revenues.)
And corporations aren’t faring so badly right now. U.S. companies are awash in profits and cash while corporate tax collections as a share of GDP are at their lowest ever.