“And I can make a firm pledge; under my plan no family making less than $250,000 a year will see any form of tax increase.”
–Barack Obama, Sept. 12, 2008, Dover, New Hampshire
Barack Obama isn’t the first politician to break a promise, torture the truth or outright lie to the American people. But, he certainly is among the most accomplished at it.
Dec. 11, 2010, the President falsely implied that Republicans were willing to let the current tax rates expire (aka: the Bush Tax Cuts). Pretending to be mortified, Obama said that would cost middle-class tax payers an extra $3,000. “That’s unacceptable to me,” he claimed. That would be wrong because “taking money out of the pockets of working people is exactly the wrong thing to do to get our economy growing again.”
Obama not only falsely represented the Republican position – as usual – he shamelessly pretended that he was The One “fighting so hard to cut middle-class taxes.” Baloney!
First, the fight wasn’t over whether to maintain the current tax rates, it was because Obama wanted a tax increase on higher income earners. Something the GOP rightfully refused to consider, particularly in the middle of a deep recession.
Second, if stopping government from “taking money out of the pockets of working people” was so important to Obama, he’s done a miserable job of doing it. Whether the family budget is drained from government taxes, fees, penalties or failed policies doesn’t make a lot of difference. Government under Barack Obama keeps costing families more and there is a whole lot less than there used to be to take care of necessities.
Let’s examine the record.
Obama broke his no-new-taxes pledge 15 days after he took office when he signed legislation on Feb. 4, 2009 raising the tax on cigarettes 158 percent – 62 cents per pack. Arguably, there are good reasons to discourage smoking. But, undeniably this tax not only applies to all classes of income, it is extremely regressive and impacts the poor the hardest.
Obama claimed his health care plan would save the typical American family $2,500 on insurance premium cost. But, the latest analysis from the non-partisan Congressional Budget Office estimates a $2,400 increase – not savings – in premium expense. That’s a $4,900 swing in the wrong direction for American families.
Additionally, Obama’s campaign promise from 2008, cited above, to not raise taxes on middle-class families turned out to be hogwash. American’s for Tax Reform and many others have chronicled the 20 new or higher taxes, fees and penalties (is there really any difference?) included in ObamaCare at a cost of more than $500 billion. Obama would have you believe that the taxes are on health care businesses, but those costs will either be passed on in higher prices or force manufacturers and providers out of business. Other taxes, he pretends, will only be imposed on the wealthy to make sure they pay their “fair share.”
But, that is not true either. The following is a summary of the seven ObamaCare tax hikes that directly affect the general population of Americans as published in Forbes on June 28, 2012:
No. 1. The Individual Mandate Excise Tax. Starting in 2014, anyone not buying “qualifying