Fact Check: Obama wrong on tax rates

At Wednesday’s Twitter Town Hall, President Obama claimed: “We actually now have the lowest tax rates since the 1950s. Our tax rates are lower now than they were under Ronald Reagan. They’re lower than they were under George Bush — senior or George Bush, junior.” This statement is false.

According to The Tax Foundation’s Federal Individual Income Tax Rates History table, the top marginal tax rate is currently 35 percent. In 1992, under President George H.W. Bush the top marginal rate was 4 points lower than today’s rate at 31 percent. In 1988, under President Ronald Reagan the top marginal rate was 7 points lower than today’s rate at 28 percent.