percentage of gross domestic product, a percentage of the size of the economy. if your economy produces ten bucks worth of stuff and tax five dollars, taxes are 50% of gdp. in 2011, tax revenues were 15.4% of gdp. to give you an idea how low it is before the financial crisis you had to go back to 1950 to find a year when taxes were that low. in 1950, there was no medicare, there was no medicaid, there wasn t a hawaii as one of the 50 states of the united states. for comparison sake, taxes under reagan were 18.2% of gdp. think about that next time obama is taxing the economy to death. taxes under obama are low are than they were under reagan, not even close. taxes are so low right now obama the bush tax cuts brought them there, and because of the recession. but as the economy recovers,
developing an international banking problem. we have been waiting through what it takes to wire money internationally. turns out in order to purchase 70 bucks worth of t-shirts it s going to cost us $35, half that much money just to move that money to germany. that is typically what it costs to do an international money transfer between bank accounts. 30 or 40 bucks. so today when this happened, when there was a massive show of national security fire power in d.c., a suddenly convened press conference to announce a high profile arrest in a case that is a spy movie plot to end all spy movie plots. because we on this show are working out our international banking $35 fee snafu, one part of this complicated fascinating thing made way more sense than it ought to have. on august 1st of this year a 56-year-old iranian american with awesome hair who said he was acting as an intermediary for iran s government specifically for his cousin in
from the anti-nazi group that was distributing them. in so doing, we have been developing an international banking problem. we have been waiting through what it takes to wire money internationally. turns out in order to purchase 70 bucks worth of t-shirts it s going to cost us $35, half that much money just to move that money to germany. that is typically what it costs to do an international money transfer between bank accounts. 30 or 40 bucks. so today when this happened, when there was a massive show of national security fire power in d.c., a suddenly convened press conference to announce a high profile arrest in a case that is a spy movie plot to end all spy movie plots. because we on this show are working out our international banking $35 fee snafu, one part of this complicated fascinating thing made way more sense than it ought to have. on august 1st of this year a 56-year-old iranian american with awesome hair who said he was acting as an intermediary
he s got a lot of guts, because he went out there and got rid of $6 billion bucks worth of subsidies and grover norquist had the guts to call that a tax increase, and tom said, one of his great allies, grover would be irrelevant in two years, he can t miss, but he s a good guy with a very bad idea, and he went and gathered up all those signatures when they were strewing roses in the pathways out here. grover comes up sign this. why would anyone sign anything before they heard the debate, before they read the documents, before they did anything? but i ll tell you about grover, if he s more powerful than the president of the united states, when coburn nailed him, he said if you re calling that a tax increase when you take away $6 billion ethanol, that s ludicrous and also deceptive and when we re digging into those tax expenditures and grover and his happy warriors are trying to call that a tax increase, that s a damn lie and he knows it. i ll tell you one thing, only
he s got a lot of guts, because he went out there and got rid of $6 billion bucks worth of subsidies and grover norquist had the guts to call that a tax increase, and tom said, one of his great allies, grover would be irrelevant in two years, he can t miss, but he s a good guy with a very bad idea, and he went and gathered up all those signatures when they were strewing roses in the pathways out here. grover comes up sign this. why would anyone sign anything before they heard the debate, before they read the documents, before they did anything? but i ll tell you about grover, if he s more powerful than the president of the united states, when coburn nailed him, he said if you re calling that a tax increase when you take away billion ethano that s ludicrous and also deceptive and when we re digging into those tax expenditures and grover and his happy warriors are trying to call that a tax increase, that s a damn lie and he knows it.