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  • Obama's Half-Truths on Taxes

    In the video below, Barack Obama tells an audience in Norfolk, Va., that there are analysts at The Heritage Foundation “who are acknowledging that my tax plan provides more relief to the average American than John McCain’s does.”

    [youtube]http://www.youtube.com/watch?v=ahHpaFKoQDo[/youtube]

    Here is the actual quote from the New York Sun:

    Mr. Hederman said the middle class would likely pay less under Mr. Obama’s plan than Mr. McCain’s but that the Democrat was excessively reliant on complicated tax breaks that would make the tax code more confusing. “Instead of a grab bag of tax credits, lower the marginal rates,” Mr. Hederman said.

    This is hardly an endorsement of Obama’s tax scheme, which Hederman said would rival European levels of taxation. While Obama offers many different tax credits to the middle class, it is unlikely that many people in the middle class will benefit from them. Many in the middle class will lose out because Obama accomplishes his cuts by making the tax code far more complex for middle class America. Obama sacrifices good tax policy and economic growth in favor of redistribution through the tax code.

    Furthermore, Obama’s plan makes it more difficult for working class Americans to move up the economic ladder by sharply raising their effective tax rates due to the phase-outs of many of his proposals. It would be preferable if Obama lowered marginal rates instead of relying on gimmicks and tax credits to lower taxes.

    Finally, American workers need a strong economy that can create good jobs and increase take-home pay. Obama’s piecemeal tax cuts are accompanied by other tax hikes, and other policies (like a massive new carbon tax and billions in wasteful spending), that will weaken the economy in the near term and the long run. Even a modest tax cut is always welcome, but a strong economy will make the bigger difference in the lives of American families.

    Posted in Ongoing Priorities [slideshow_deploy]

    15 Responses to Obama's Half-Truths on Taxes

    1. Pingback: Obama’s Half Truths on Taxes

    2. John cincinnat, ohio says:

      this is the kind of info that I need. One of my room-mates feels that obama will lower taxes for us and give us more money, but as we see that is not the case. I can use this info to to showe some truth to my room-mate. thank you heritage foundation and keep it coming.

    3. Kijm White Bear Lake says:

      I have used The Heritage Foundation information to explain to people how Obama's plan doesn't work and McCain's does. It's simple…Obama wants to give them a fish and McCain wants to teach them to fish. McCain will provide opportunity for growth and jobs.

    4. J. McCoy, Alabama says:

      If Obama is elected president, I fear America will never again be the great nation it is today. His tax plan in nothing more than "pure socialism".

    5. Joe Corby, New Bern, says:

      This is a very confusing statement that Mr Hederman has made. I can see how most anyone would interpret it the way that Mr Obama has. I can not see how the Heritage Fdn can publish this kind of a statement in the midst of a campaign by the Democrats based to a large extent on misreprentations and out right lies – starting with the congressmen who are responsible for the mortgage crisis that is reducing our life savings to a small percentage of their former value.

    6. MajKitab says:

      I like Obama's plan to invest in (green energy) jobs.

      There will be plenty of prosperity when he is elected.

      Instead of giving -companies- the incentive to create demand, -consumers- will have that power and that's how it should be.

      We already know what the wealthy do with their extra money, and it's not create jobs but buy yachts.

    7. DS says:

      All the workers at Hatteras yachts in New Bern NC thank those people who chose to invest in their workmanship–remember the luxury tax and what it did to the boat industry? It killed it, who lost their jobs, the working man…..

    8. Pingback: Heritage Foundation calls out Obama campaign on ad lie | The Lonely Conservative

    9. Ken, Santa Barbara says:

      I find this and other Heritage Foundation screed very helpful in helping to found (lay the groundwork) for many of my decisions. You really helped me on this one. I'm full on toward Obama.

      Keep up the push.

      Ken

    10. Rusty - Rocky Mount, says:

      I think DS hit the ball out of the park!! I started my business months before 9/11 and thought the end was near after that tragedy, now my personal income is in excess of $350k per year and for what? Obama wants my sweat and dedication to pay lazy welfare recipients for their vote!! Can't all of these liberal socialist just move to China to see that they will not have a life is this country swings left!!

    11. Pingback: Obama’s Misleading TV Ads « Conservative Logic

    12. Mike, Bensalem PA says:

      I'm a lifelong registered Republican. Over 28 years. I have never been so disappointed in my party as I am today. We chose a hothead as our leading man. When questioned by a Wall Street Journal reporter on his views, Mr McCain chose to completely ignore her question as if she wasn't standing directly in front of him. Utter contempt for the questioner. Just after he spoke of "reaching across party lines"! (Granted, The Journal is no friend of Republicans, or Mccain). In contrast, Obama took a great deal of time to explain to "Joe The Plumber", (no friend of Democrats), just exactly what tax changes would mean to him, personally. I had read that McCain was short tempered, and at times, downright demeaning to those he saw as a threat, but had never witnessed it until that attempted interview. It was a defining moment for me. I've seen 8 years of my Country's refusal to speak with unfriendly nations. When there's NO dialogue, there's NO hope. Regardless of either candidate's TAX proposals, I ask, more importantly, who do I want dealing, in my Country's best interest, with the rest of the world. We are slowly moving toward a one world economy (If we haven't already arrived there.) A closed door policy is no longer a viable option. I can't have a leader with a short temper representing my best interest. And I certainly can't have a short tempered man with the power to launch a nuclear strike. I suppose that answers the question posed by my own party; "Who do you want answering that phone at 3:00 in the morning?" I'll take the smooth talking,unshakable guy over the hothead, thank you. There is no RNC script to read when that call comes. And its too easy to say, "nuke the bastards!"

    13. Pingback: The Right Voice » Obama’s Infomercial

    14. Gregory Farnsworth, says:

      Mike, from Bensalem, PA seems impressed by Obama's demeanor and smoothness, completely ignoring his socialist economic policies that would buy votes with our tax dollars, his big spending plans,and his lack of experience.

      But most of all, Mike ignores Obama's lack of character and integrity, choosing instead to call McCain a "hothead", when McCain hasn't demonstrated this trait once during his campaign. Obama's character and judgement are very suspect because of his early mentor "Frank" who is a known Communist, his ties to black separatist Louis Farakahn, his ties to the corrupt Chicago political machine that launched his career, anti-Americans like Rev. Wright who Obama listened to and respected for 20 years until the Rev. became politically incorrect, Wm. Ayers, the unrepentant terrorist, convicted Obama fundraiser Tony Rezko, and the now infamous Acorn organization, who Obama enlisted to register voters by any means, legal or illegal.

      Mike is also ignoring the fact that the Democrats started the subprime crisis with Bill Clinton signing a bill in 1999 lowering credit standards for low-income and minority mortgage borrowers. The big guns behind this were Barney Frank and Christopher Dodd, both Democrats. Dodd, Obama and Frank were the largest recipients of FNMA lobbyist money. Now the Democrats are trying to deflect all criticism for this crisis by trying to redistribute wealth with huge bailout programs. Although the entire blame for our current economic crisis can't be blamed entirely on Democrats, they started it and resisted all attempts from Republicans to reign in FNMA &Freddie Mac until it was too late. Mike, you have to look at the whole package, not just the parts you like.

    15. Obama is a LIAR says:

      Obama LIED. Here's the real truth directly from Mr. Hederman:

      http://article.nationalreview.com/?q=MzQ0MjAzNjEy

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