For all those people saying Obama has been firm on his tax plans and not a liar, how do you explain the following. This should raise some debate.
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WASHINGTON, Oct 31, 2008 /PRNewswire-USNewswire via COMTEX/ -- Has Obama's Promise Of Tax Cuts Shifted Further Down To Only Those Earning Under $120,000?'
The following was released today by the Republican National Committee:
Today, Obama Campaign Surrogate Gov. Bill Richardson (D-NM) Further Lowered The Ceiling For Tax Cuts Under An Obama Administration To $120,000:
Gov. Bill Richardson: "What Obama wants to do is, he is basically looking at $120,000 and under, among those that are in the middle class, and there is a tax cut for those." (KOA-AM, Interview With Gov. Bill Richardson, 10/31/08)
Just A Few Days Ago, Biden Lowered The Ceiling For Tax Cuts To $150,000, Confirming What Obama Let Slip Earlier In The Campaign -- That Americans Would See Higher Taxes Starting At $150,000:
Biden: "Spreading the wealth was not -- he was talking about is all of the tax breaks have gone to the very, very wealthy. For example you have right now, this year, under the old tax policy that was just -- that was put in by George Bush, people making an average $1.4 million a year, good people, decent people, patriotic -- they're going to get an $87 billion tax break. What we're saying is that $87 billion tax break doesn't need to go to people making an average of $1.4 million, it should go like it used to. It should go to middle class people -- people making under $150,000 a year." (WNEP-Scranton, Interview With Sen. Joe Biden, 10/27/08)
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FLASHBACK: In June 2008, Obama Told Reporters He Would Raise Taxes On The Top 5 Percent Of Earners. "Speaking to reporters in St. Louis, he said he would eliminate the capital gains tax 'for the small businesses and startups that are the backbone of our economy.' His income tax plans, Obama said, would cut taxes for 95 percent of U.S. workers, while rolling back the Bush administration's tax reductions for the highest-earning 5 percent." (Matt Apuzzo and Charles Babington, "McCain, Obama Trade Jabs On Economy, Taxes," The Associated Press, 6/11/08)
Obama: "It Is True That Those Like Myself Who Are In The Top 5 Percent, We're Going To See A Tax Increase. I'm Going To Roll The Bush Tax Cuts Back To The Levels They Were In The 1990s." (Fox Business' "Fox Business," 6/26/08)
In 2006, The Cut Off For The Top 5 Percent Of Earners Began At About $150,000 -- Well Below Obama's $250,000 Threshold. "Including all tax returns that had a positive AGI, taxpayers with an AGI of $153,542 or more in 2006 constituted the nation's top 5 percent of earners." (Gerald Prante, "Summary Of Latest Federal Individual Income Tax Data," www.taxfoundation.org, 7/18/08)
FLASHBACK: In June 2008, Obama National Campaign Co-Chair Sen. Claire McCaskill (D-MO) Said Americans Earning Less Than $150,000 Would Be Exempt From Obama's Tax Increases. "[Sen. Claire] McCaskill called Obama middle-class tax cut 'massive' and stressed that those making 'under $150,000 a year would see no tax increase of any kind' -- not payroll tax, not capital gains, 'not a single tax,' [New Hampshire Congressman Paul] Hodes said." (Domenico Montanaro, "Obama V. McCain On Middle Class," MSNBC's "First Read" Blog, firstread.msnbc.msn.com, 6/12/08)
In August, Obama's Advisors Acknowledged That Higher Taxes Would Start At $200,000:
August 2008: Obama's Economic Advisers Acknowledged That Individuals Would See Higher Taxes At $200,000, Not $250,000. Obama Advisors Jason Furman and Austan Goolsbee: "Sen. Obama believes that one of the principal problems facing the economy today is the lack of discretionary income for middle-class wage earners. That's why his plan would not raise any taxes on couples making less than $250,000 a year, nor on any single person with income under $200,000 -- not income taxes, capital gains taxes, dividend or payroll taxes." (Jason Furman and Austan Goolsbee, Op-Ed, "The Obama Tax Plan," The Wall Street Journal, 8/14/08)
Obama Economic Policy Adviser Jason Furman Also Said That Obama "Would Cut Taxes For Almost All Of The Families Making Less Than [$250,000]." Jason Furman: "Finally, and perhaps most importantly, the op-ed today makes a very important point that ... Barack Obama would not raise taxes for any family making below $250,000 -- in fact, it would cut taxes for almost all of the families making less than that ..." (Obama For America, Press Conference Call, 8/14/08)
In July, Obama Said Higher Taxes Would Start At $250,000, And Everyone Earning Less Than That Would See A Tax Cut:
July 2008: Obama: "If You Make $250,000 A Year Or Less, We Will Not Raise Your Taxes. We Will Cut Your Taxes." (Sen. Barack Obama, Remarks At A Campaign Event, Powder Springs, GA, 7/8/08)
FLASHBACK: In June, Obama Voted In Favor Of Raising Taxes On Americans Earning As Little As $42,000:
Obama Voted In Favor Of The Democrats' FY 2009 Budget Resolution. (S. Con. Res. 70, CQ Vote #85: Adopted 51-44: R 2-43; D 47-1; I 2-0, 3/14/08, Obama Voted Yea; S. Con. Res. 70, CQ Vote #142: Adopted 48-45: R 2-44; D 44-1; I 2-0, 6/4/08, Obama Voted Yea)
FactCheck.org: The Budget Resolution Would Have Allowed Most Of The Provisions Of The 2001 And 2003 Tax Cuts To Expire, Effectively Raising Taxes On Those Making $41,500 In Total Income. "What Obama voted for was a budget resolution that would have allowed most of the provisions of the 2001 and 2003 tax cuts to expire. In particular, the resolution would allow the 25 percent tax bracket to return to its pre-2001 level of 28 percent. That bracket kicks in at $32,550 for an individual or $65,100 for a married couple. ... But as those of you who have filled out a 1040 know, that's not actually how income taxes work. We don't pay taxes on our total earnings; we pay them based on our 'taxable income.' The Urban-Brookings Tax Policy Center's Eric Toder told FactCheck.org that 'people with taxable income of $32,000 would have a total income greater than that.' In 2008, anyone filing taxes with single status would be entitled to a standard deduction of $5,450, as well as a personal exemption of $3,500. So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income, while a married couple would need a combined income of at least $83,000." ("The $32,000 Question," www.factcheck.org, 7/8/08)
FactCheck.org: "Obama's Votes Indicate A Willingness To Raise Taxes." "Certainly Obama's votes indicate a willingness to raise taxes, and Obama has not been shy about saying explicitly that he will raise some taxes." ("The $32,000 Question," www.factcheck.org, 7/8/08)
