A taxpayer watchdog group is throwing a penalty flag on President Obama’s assertion in a Super Bowl pre-game interview that he didn’t raise taxes, claiming the president signed into law at least two dozen tax increases.
“Just 16 days into his presidency, Obama signed into law a 156 percent increase in the federal excise tax on tobacco — a hike of 62 cents per pack,” Americans for Tax Reform said in a press release Monday, arguing that Obama’s approval of this tax hike was a violation on his campaign pledge not to raise taxes on the middle class.
“I lowered taxes over the last two years,” he said in an interview that aired before the heavily-viewed Superbowl on Sunday.
But ATR cites the health care law as an Obama administration imperative that contains two dozen new or higher taxes, including the individual mandate tax and the employer mandate tax.
“President Obama’s entire claim of being a net tax-cutter rests merely upon the temporary tax relief he has signed into law,” the group said. “The tax increases Obama has signed into law have invariably been permanent. In fact, Obama has signed into law $7 in permanent tax hikes for every $1 in permanent tax cuts.”
One of Obama’s temporary tax cuts was in the 2% decrease in Social Security payroll withholding’s whether you agree with the federally mandated system or not, the truth is that the system is in deep financial trouble. Last year was the first time SS was paying out more money then it was receiving, by reducing the amount of withholding Obama has assured a larger deficit in the fund and hastened an inevitable crisis.
The quasi-extended Bush tax rates kept status quo on some rates while raising other rates such as the Estate Tax, otherwise known as the Death tax. In 2010, the death tax rate was at 0 (zero), under Obama that rate has jumped to 35%. There is NO moral justification in the re-taxing of estate assets after an individual dies, unless of course you believe in redistributing the wealth of productive people.
What should be clear to most who watch the political maneuvers of Obama, do not listen to what he says, watch what policies he advocates and eventual does, to him words mean little. Or perhaps we should take the pResident at his word, he didn’t raise a single tax but rather a bunch of taxes. So in the immortal words of Joe Wilson… “you lie.”
Read the entire article at the link supplied above.