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Cut Taxes On Most Households
According to ABC, Obama "would
raise taxes on the wealthy, people who make more than $250,000 a
year, but cut them for most households."
The text on screen, however, stated an impossibility: "Cut taxes on
most households (95%)."
That 95 percent is impossible since one-third of those who file with the
IRS are "non-payers," people who end up paying no tax or get money back
which exceeds their payments. Obama plans to expand the Earned
Income Tax Credit (EITC) and create other credits. For those for
whom the credits surpass their tax obligation, those are not tax cuts,
but spending hikes or federal giveaways akin to welfare.
Obama says he's against reparations, but he's
for "free money." This guy's all about redistribution of wealth.
What a surprise!
Tax, A Charge, Usually Of Money
Obama was all over the legacy media this
weekend, and twisted the English language into knots trying to defend
his socialized health care.
declared again last week that his health care plan "will slow the
growth of health care costs for our families and our businesses and our
government." And this historic achievement will be accompanied by
a dazzling array of new medical benefits that everyone will receive --
guaranteed by law. Okay, you've heard this before. But
that's Obama's story, and he's sticking to it. The question is,
why? Does he think we're stupid?
Appearing on ABC's "This
denied that Individual Mandate is a tax increase, when everyone
knows it is --
Stephanopoulos then offered the dictionary definition.
"I don't think I'm making it up. Merriam-Webster's
dictionary: 'Tax, a charge, usually of money, imposed by authority
on persons or property for public purposes,'" he said.
taken aback, Obama rejected the notion it was a tax increase and said
pulling the dictionary out was a sign the host was "stretching" a
"No. That -- that's not true, George. The -- for
us to say that you've got to take a responsibility to get health
insurance is absolutely not a tax increase," Obama
As Politico's Chris Frates
out, it's all right there on page 29 of the bill: "Excise Tax.
The consequence for not maintaining insurance would be an excise tax."
To be more specific, if a taxpayer‘s modified adjusted gross income
is between 100-300 percent of the federal poverty level, "the excise tax
for failing to obtain coverage for an individual in a taxpayer unit
(either as a taxpayer or an individual claimed as a dependent) is $750
per year. However, the maximum penalty for the taxpayer unit is
If a taxpayer‘s modified adjusted gross income is above
300 percent of federal poverty level "the penalty for failing to obtain
coverage for an individual in a taxpayer unit (either as a taxpayer or
as an individual claimed as a dependent) is $950 year" -- with a maximum
penalty of $3,800.
"Exemptions from the excise tax will be made
for individuals where the full premium of the lowest cost option
available to them (net of subsidies and employer contribution, if any)
exceeds ten percent" of their adjusted gross income.
When Stephanopoulos asked him about the funding for
responded, "You know, if -- frankly, it's not really something I've
followed closely. I didn't even know that ACORN was getting a whole lot
of federal money."
The Telegraph (UK)
says that Obama is beginning to look out of his depth. It is
lovely to feature in other people's dreams. The problem comes when
they wake up. Barack Obama is an eloquent, brainy and likeable man
with a fascinating biography. He is not George Bush. Those
are great qualities. But they are not enough to lead America, let
alone the world.
guy makes Bill Clinton look like "Honest Abe." At least Clinton's
mendaciousness was skilled and practiced -- Obama's deceitfulness is
incredibly transparent -- he just comes across as a serial liar -- and
yes, it is obvious from his behavior and words -- Obama thinks the
American People are stupid.
He is simply counting on his allies
in the legacy media not to call him on his bovine excrement -- and he's
got a plan to ensure its compliance.
Taxpayers At All Income Levels
David A. Patten says that taxpayers at all income levels could be
hit with over $1.5 trillion in new taxes, fees, and other costs over the
next 10 years, despite Obama's repeated promises that he would not raise
taxes "one dime" on those earning less than $250,000 a year.
Details of several new tax proposals, including some that would
disproportionately affect the middle and lower classes, have emerged
following Obama's recent dust-up with host George Stephanopoulos on
ABC's "This Week." The two locked horns over whether the
individual mandate in healthcare reform, which requires individuals
either to buy healthcare coverage or face considerable fines, amounts to
Stephanopoulos suggested that fines levied for not
complying with the mandate are a tax. Obama's response: "But
George, you can't just make up that language and decide that's called a
tax increase…. I absolutely reject that notion."
Senate finance version of the healthcare reform bill, individuals could
be penalized for not buying insurance. The
mandate would generate up to $20 billion in new federal revenue,
according to the Congressional Budget Office. But is it a tax?
One strong indicator: The mandate would become part of the Internal
Revenue Code. Failing to pay the penalty would result in a
misdemeanor crime punishable by a $25,000 fine and/or up to a year in
jail. Also, both the House and the Senate versions of the bill
refer to the mandate fines as a form of "taxes."
Stephanopoulos was correct, and Obama lied: The fees assessed as part of
the requirement that people purchase insurance coverage are indeed a
form of taxes.
Not only is the individual mandate a huge tax.
If you refuse to pay it, you could be fined $25,000.00 and thrown in
jail for a year. The Republican National Committee decided it
would make good theater to feature Obama's dictionary game in
Obama OKs Taxing Health Plans
signaled to House Democratic leaders Wednesday that they'll have to
drop their opposition to taxing high-end health insurance plans to pay
for health coverage for millions of uninsured Americans.
meeting at the White House, Obama expressed his preference for the huge
insurance tax contained in the Senate's health overhaul bill, but
largely opposed by House Democrats and organized labor, Democratic aides
said. The aides spoke on condition of anonymity because the
meeting was private.
House Democrats want to raise income taxes
on high-income individuals instead and are reluctant to abandon that
approach, while recognizing that they will have to bend on that and
other issues so that Senate Majority Leader Harry Reid, D-Nev., can
maintain his fragile 60-vote majority support for the bill.
Pelosi and four committee chairmen met with Obama Wednesday as they
scrambled to resolve differences between sweeping bills passed by the
House and Senate. The aim is to finalize legislation revamping the
nation's health care system in time for Obama's State of the Union
address early last month.
Despite the dispute over the payment
approach, Pelosi, D-Calif., emerged from the meeting expressing
"We've had a very intense couple of days," Pelosi said.
"After our leadership meeting this morning, our staff engaged with the
Senate and the administration staff to review the legislation, suggest
legislative language. I think we're very close to reconciliation."
Congressional staff members stayed at the White House into the
evening to continue work and a conference call of the full House
Democratic caucus was scheduled for Thursday.
to tell Virginia families on Wednesday that he hasn't raised taxes,
despite what Republicans are saying.
"There is a myth out there
that somehow we have raised our taxes on small businesses," he said at a
home in Richmond. "We’ve lowered taxes on small businesses over the
last two years. In fact, we’ve lowered taxes on just about everybody."
Obama said the jobs bill he just signed will cut
taxes for small businesses, but that because the parties can't agree on
the Bush-era tax cuts, "we’re in danger of seeing a lapse in tax
"A lot of people didn’t notice that they were getting a
tax break," he said. "That’s going to lapse if we don’t renew it,
and Republicans are proposing to eliminate it."
Then He Returns To Normal. He Lies
says Obama's assertion on Sunday
that he "didn't raise taxes once" is "blatantly false," a taxpayer
watchdog group says. Obama made the claim in his pre-Super Bowl
interview with Fox News host Bill O'Reilly.
Americans for Tax Reform (ATR), Obama has signed into law at
least two dozen tax increases. The first one -- a federal tobacco tax
hike -- came just 16 days into his presidency, and raised the excise tax
62 cents per pack. Critics, including ATR, said that tax alone violated
Obama's campaign pledge not to raise taxes on couples earning less than
$250,000 and on individuals earning less than $200,000.
ATR says the
$1 trillion health care overhaul alone added numerous taxes, including
the individual mandate that requires most Americans to purchase health
insurance or else pay a fine.
During the legislative debate,
Obama and Democrats in Congress argued that a penalty for not carrying
insurance is not a tax. But in recent attempts to defend ObamaCare as
constitutional, the Obama Justice Department has called the penalty a
The health care law also includes a tax on
medical device manufacturers, as well as a higher tax on withdrawals
from health savings accounts and a cap on flexible spending accounts.
Other taxes in the health care law cited by ATR include a surtax
on investment income, an excise tax on comprehensive health insurance
plans, a hike the in the Medicare payroll tax and a tax on indoor
tanning services. (See complete list)
During Sunday's interview,
Bill O'Reilly asked Obama if he is "a man who wants to redistribute
wealth," as The Wall Street Journal has described him.
denied it, again saying, "I didn't raise taxes once; I lowered taxes
over the last two years."
Lowest Tax Rates In Decades Lie
Investors Business Daily
says that in the left's endless attempt to push tax hikes on our
beleaguered economy, it's now peddling the bogus claim that tax rates
are the lowest they've been in 60 years.
At the White House confab last
week with House Republicans, Obama reportedly tried to make the case for
hiking taxes to close the nation's yawning deficit by claiming that, as
ABC News' Jake Tapper put it, "the U.S. has the lowest tax rate as a
percentage of GDP since the 1950s." According to Tapper, Obama
added that "we've been on an experiment of low tax rates for the last
decade, and growth has been anemic."
This claim -- that the U.S.
has the lowest tax rates in decades -- has been circulating among the
left and clueless reporters for a while now.
USA Today ran a front page
article in May headlined "Tax bills in 2009 at lowest level since 1950."
Former Reagan economist turned left-of-center tax-hike advocate Bruce
Bartlett made the same argument in a New York Times piece, saying
"federal taxes are at their lowest level in more than 60 years."
An MSNBC post repeated this as fact in a dispatch last week, as did
Reuters, which claimed that the U.S. now has "the third lowest tax
burden" of all OECD countries, and that the Bush tax cuts and the
recession are the reason. Also, a Huffington Post article quotes
the Brookings Institution's Gary Burtless as saying "it's very hard to
understand where the impression has come that we currently have high
The argument then goes like this: Republicans
claim taxes are too high and that any deficit reduction must focus on
spending cuts. But look! Taxes are lower than they were 60
years ago. Surely there's room to raise them.
The claim is misleading at
It's true that tax revenues as a share of gross
domestic product have fallen in the past three years. They were
17.5% in 2008 and 14.9% in 2009 and 2010.
But this is simply a result of
the prolonged recession and terrible recovery that killed incomes and
corporate profits, blowing a hole in federal revenues. The amount
of money raised through the individual income tax fell 21% from 2007 to
2009, while corporate tax payments plunged 63%.
That's neither a sign that
we're undertaxed nor an indictment of the Bush tax cuts. In fact,
tax revenues under Bush hit 18.5% of GDP by 2007. That's higher
than the post-World War II average of 17.8%.