- Was the 2009 stimulus package a deficit-busting failure or an unparalleled rescue? Are taxes stifling or the lowest they've ever been? We analyze the seven most prevalent economic myths to see what's true.
- The Latest on Our Sputtering Economy
- America's Economic Chaos: Don't Panic, Get Informed!
- Americans Actually Lightly Taxed
Michael Grabell, ProPublica
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A sign about jobs created is posted at the Caldecott Tunnel construction project on Aug. 17, 2011, in Oakland, Calif. (Justin Sullivan/Getty Images)
With the recent Iowa straw poll  and President Obama's bus tour , Americans are hearing a cacophony of arguments about the wobbly economy. The federal stimulus package passed in 2009 was either a deficit-busting failure full of wasteful projects or an unparalleled rescue that would have been more successful if it had only been bigger. Taxes are either stifling or the lowest they've ever been. America needs to invest in infrastructure, or "infrastructure" is merely a euphemism for more government spending. So, here's our guide to the most prevalent economic myths.
1. Taxes have been going up and are high compared to levels in other countries.
The first part is wrong; the second is also wrong but contains a grain of truth.
The percentage of income that Americans spend on taxes is the lowest it's been since 1958, according an analysis by USA Today . And with the exception of five years after the 1986 Tax Reform Act, the highest marginal income  and corporate tax rates  are the lowest they've been since World War II.
The Latest on Our Sputtering Economy, by the Numbers, Braden Goyette, ProPublica
- Here's a brief overview of some key stats on where the economy stands.
- Economic Myths: We Separate Fact From Fiction
America's Economic Chaos: Don't Panic, Get Informed! Global Research
- It is time to step back from the panic and understand what is happening. The mainstream media is having a heyday with sensationalized reports which at their core are masking several critical and grim truths.
- Know where to turn for the truth
Americans Actually Lightly Taxed, Juan Cole, Juan Cole.com
- What you may be able to link low rates of taxation (and regressive taxation policy, which is what the US has) to is levels of social violence. Thus, Mexico and the United States are both extremely violent societies compared to those at the top of this list, in part because the government is starved by its stingy wealthy elites of funds to deal with violence, especially in poorer communities.
- The argument that raising taxes on the wealthy would hurt growth or employment holds no water.