Posts Tagged ‘Bill Clinton’

Have You No Shame?

Friday, October 5th, 2012

Inspired by No, Romney will not raise taxes on the middle class (Washington Examiner 10/04/12 page 43).

 

“Under current policy signed into law by President Obama, the average American family will see its tax bill rise by almost $3,500 starting Jan. 1. But according to Obama, it’s Mitt Romney who wants to raise taxes on the middle class.” – DC Examiner editorial
 
“It takes some brass to attack a guy for doing what you did.” — Bill Clinton at the DNC
 
“Editors, take the mirror off your shelf.
Examiner, examine yourself.” — Newsericks

 

I don’t begrudge you your views

And your political attacks,

But it does bother me

When you make up your own facts.

***

It took me a few seconds to figure out the theoretically basis for the Examiner’s claim that Obama is imposing a $3500 tax increase on American families on Jan. 1, but then that date and the clever “current policy signed into law” phrasing clued me in: it’s the expiration of the Bush tax cuts.

This is unbelievable chutzpah. They were originally scheduled to expire on Jan. 1, 2010(that’s how the Bushies wrote the law, in order to mask its true cost). President Obama wanted to extend them for working and middle-class families but allow them to expire on income over $250K, but Republicans held the working and middle-class tax cuts hostage (along with a bunch of other stuff, like unemployment insurance), saying that if millionaires and billionaires were not allowed to keep collecting their tax cut money, nobody would be.

It worked. President Obama acceded to GOP demands to extend the tax cuts for all income levels for two additional years, and signed the law doing so (that’s the “current policy signed into law by President Obama” which the Examiner refers to). Now, those two years are up, and the extension is scheduled to expire onJan. 1, 2012.

Here’s the kicker: President Obama again wants to extend the tax cuts for all family income under $250K so that the working and middle-class families who constitute 98% of our population would not see a tax increase. Unfortunately, the GOP is again holding the working and middle-class hostage in order to demand that the wealthiest 2% too be treated to continued reduced tax rates (on top of which Mitt Romney wants to ladle another $5 trillion tax cut). Obama and Congressional Dems have repeatedly proposed extending the lower and middle-income tax cuts in order to avoid the scheduled tax increase and give Americans certainty, but Congressional Republicans have rebuffed and blocked those attempts.

Obama wants to continue working and middle-class tax cuts, Republicans oppose that unless the rich get a break too, and the Examiner twists that into “Obama wants to raise your taxes, average American”? You have got to be kidding me.

The Examiner editorial also trashes the Tax Policy Center as “left-wing” and it’s study as biased, since one of its authors is a “recent Obama employee,” not mentioning that the other worked for the George H.W. Bush Administration. Funny, since the Romney campaign referred to the Tax Policy Center as an “objective third-party group” during the GOP primary when he wanted to refer to one of TPC’s studies on the impact of Rick Perry’s tax plan. The TPC study convincingly demonstrated that it’s mathematically impossible for Mitt to close enough loopholes to make his $5 trillion tax cut revenue-neutral without raising taxes on the middle class. Unfortunately for Mitt, the 5 studies he and Paul Ryan keep flogging to counter the TPC study actually further support its conclusions, as the Examiner perhaps recognizes since its editorial doesn’t even mention those 5 studies. Instead, the Examiner minimizes (both literally and figuratively) the tax cut deficit by positing that Romney could eliminate exclusions for state and local bond income (never mind that so doing would violate the principle of sovereign immunity), and claims success: “Presto: The tax gap would instantly fall from $86 billion to $41 billion.” Even Mitt Romney himself is no longer attempting to sustain this “I can eliminate enough loopholes” fantasy, having instead resorted to the more defensible position that if he can’t eliminate enough loopholes, he’ll just reduce the size of his rate cut. That at least is fiscally prudent and mathematically possible, so if the Examiner wants to come to Romney’s defense, it would be far more honest to do so on that basis.

So the Examiner has shamelessly misrepresented both the Obama and Romney sides of the coin, publishing an editorial “analysis” not only biased, but riddled with misinformation and deception.

Disappointing; very disappointing.

 

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