http://politicalwire.com/archives/2011/06/03/republicans_dont_believe_taxes_are_lower_under_obama.htmlWhen House Republicans met with President Obama earlier this week to discuss the debt ceiling, The Hill reports GOP members engaged in a lot of "eye-rolling" over his assertion that taxes are lower today than they've been in decades.
Rep. Terry Lee (R-NE): "He made a comment like the tax rate is the lightest, even more than Reagan."
Rep. Darrell Issa (R-CA): "We learned we had the lowest tax rates in history ... lower than Reagan!"
Of course, as Jed Lewison points out, total federal tax revenues as a percentage of GDP averaged 18.2% during Reagan's presidency, reaching a low point of 17.3% in 1984. During Obama's term, total federal tax revenue as a percentage of GDP have averaged 14.9%.
