Obama Lies About Cutting 95% of Americans’ Taxes

In the last few debates, Obama has stressed that he will cut taxes for 95% of Americans.  Here’s a quote from the first debate, courtesy of CNN:

My definition — here’s what I can tell the American people: 95 percent of you will get a tax cut. And if you make less than $250,000, less than a quarter-million dollars a year, then you will not see one dime’s worth of tax increase.

The second debate, again courtesy of CNN:

So let’s be clear about my tax plan and Sen. McCain’s, because we’re not going to be able to deal with entitlements unless we understand the revenues coming in. I want to provide a tax cut for 95 percent of Americans, 95 percent. 

And the last debate, again courtesy of CNN:

If I can answer the question. Number one, I want to cut taxes for 95 percent of Americans. Now, it is true that my friend and supporter, Warren Buffett, for example, could afford to pay a little more in taxes in order — in order to give — in order to give additional tax cuts to Joe the plumber before he was at the point where he could make $250,000.

Well, Mr. Obama lacks some simple math principles.  According to the U.S. Census Bureau, roughly 10.5% of Americans don’t even make enough money to have to pay taxes (I had to calculate it all manually with the IRS Tax Calculator, so the number 10.5% is an approximation, and not exact).  And this is before you add in any dependents or exemptions.  This is assuming that 100% of your income is taxable, and almost all the time, this isn’t the case (unless you just don’t take the time to include your dependents and exemptions).

But the point is.  5% of Americans make $250,000 or more, so this is where Obama is getting his 95% from, but he’s ignoring the fact that another 10%+ don’t pay taxes at all.  How can they get a tax CUT if they’re not paying taxes!

It’s more Obama lies where he’s just trying to get votes.  And all of this is before he raises capital gains taxes, where 87% of the people affected would be making under $100,000.)

The fact that he will decrease the income tax rate, but raise other taxes is what’s going to drive our economy down even further.

Done Ranting,

Ranting Republican
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13 Responses to “Obama Lies About Cutting 95% of Americans’ Taxes”

  1. Joe Says:

    So, if he just elaborated a little more and said, that the 95% of taxpayers who do not make 250k would be eligible for tax cuts, would you be happy?

  2. inkslwc Says:

    No, if he said the 90-85% (it may be more after you factor in exemptions), then I’d be happy (not with his tax policy, since he’ll still raise other taxes, but at least then he would be being honest about income taxes).

  3. bedub Says:

    Look, Obama says he’ll offer a proposal to cut 95% of “working families'” taxes.

    Who needs tax relief the most? People making a quarter-million dollars or more every year or the struggling family who’s tax cut under Obama could mean the difference between affording home heating oil for a year?

    Obama’s got it right and you only have to look at recent history to plainly see this. People who can afford to pay more should. Trust me, those folks in the upper 5% didn’t generate their wealth alone. It is the other 95% who are producing the work, shopping in the stores, paying for services.

    We are all in this together and it is time that the leadership in this country start paying attention to everyone instead of the few at the top who seem to think they deserve tons of wealth while many more struggle to just get by.

  4. Luke Says:

    To be fair, I do believe I had heard in the second debate at some point where he did say 95% of working families as mentioned above. The problem is that he neglects to tell us about the trickle down that we will all feel.

    First of all, for the many program that he wants in place, taxes are going to have to be increased somewhere. For now I can overlook that, so that I can get on with the point.

    The point is that, while 95% of the “tax payers” will see a cut in their taxes, there will be increases in other places. If you want to tax the Oil companies more, then go right a head! Tell me this though, what will that do for gas prices? Do you honestly think that the oil company eats that tax increase? I don’t think so, I bet they pass that right back to us, the consumer.

    Let’s forget for a moment about the big companies and focus on some small to medium businesses. What happens if the tax burden is shifted to some local coffee shop for instance. Sure they could raise their prices, but that could turn some people off from going there. Another option might be to get rid of one of their employees. Now you have 1 more person out of work. Multiply that by how many businesses might face that kind of situation.

    I am a middle class American, and I want to see more money on my pay check just like everyone else, but at what cost? Do we give up or cut back on some of our social programs? Do we tax businesses more? I honestly, prefer that we decrease the size of government to do it, but that is not what Obama is about.

  5. Guy Welch Says:

    Oh boo hoo!!! He’s going to raise my taxes!!! Wahhhhh! I’m just not comfortable enough with my OVER $250,000 income. I need more money for my big fat American lifestyle, while the rest of the world breathes my fumes!

    We are in big trouble here, and we’re in it together!

    Look, if anyone thinks we are going to get out of this huge hole we’ve dug for ourselves by constantly voting for these “leaders” who keep saying “there there, everything is going to be all right” instead of facing up to reality, they have the wool seriously pulled over their eyes! McCain is just cooing to your delicate ears when he says he can balance the budget in one term (or even, god forbid two terms) without seriously bringing in some more money. I’m afraid that getting this money from the people that can afford it is the reality we now face.

    BTW, all those people sitting in the woods, clutching their rifles in fear, are free to continue to do so. Hey! If they pay any taxes, they’ll probably get a tax cut while they shudder in fear!!!

    Sorry for the rant, consider it a reality check.

  6. Luke Says:

    Sorry Guy, but that was a poor rant. First of all, I, like many of my friends am defined as lower middle class. Like many of my friends, I would directly benefit from Senator Obama’s plan. However, as I already posted, me, my friends and everyone else would indirectly receive the negative impact from this. I’m saying this to show that not everyone who makes $250K or more support this plan.

    Yes we have dug ourselves into a deep mess. I have to point out again, that more social programs and a bigger government is the exact opposite of what we need to fix this. I have to say, I’m sorry but McCain was not my choice for nomination and there are a lot of issues I disagree with him on. Believe it or not, just because some of us are voting for McCain, doesn’t mean that we hang on his every word.

    Although, you do bring up an excellent point about bringing in money. We do need to bring it in. The big thing that I like about Senator McCain is his stance on nuclear energy, drilling for domestic oil and ridding ourselves of foreign oil dependency. Build, reactors, refineries and create new jobs in the field of alternative energy research. Ultimately, building these things do in effect create more jobs.

    Come this time next month, I’ll happily be sitting in the woods “clutching” to my rifle.

  7. inkslwc Says:

    Luke, you’re right, he has said both. During his acceptance speech, he said only 95% of Americans. The point is, even if it is 95% of working people/families, the 95% is simply too high (I used 95% of Americans because 1) it was still his quote and 2) it’s easier to look at census data since there is no census question “Are you a working peron?”).

    As to McCain’s tax cuts on oil, McCain is giving tax cuts to oil because he’s giving tax cuts to most all companies. Obama emphasizing McCain’ss tax cuts for oil companies would be like McCain coming out and saying, “Obama will give a $500 tax cut to people who make $200,000.” Sure that’s true, but he’s also giving a tax cut to people who make $20,000.

  8. Luke Says:

    inkslwc, right on! Love the blog by the way. Let’s pretend for a moment that you didn’t just make sense there and leave it at Obama saying “McCain is giving tax cuts to big oil”. So what! Oil companies may be bringing in higher profits, but they are also contributing record taxes also. So, again, if we eased up on oil companies, you would thing that we would see better prices at the pump.

    Anyway, again, great blog.

  9. Murph Says:

    The Dems are planning to eliminate the 401K tax deduction. Most of us in the private sector don’t have a company pension plan and must rely on a 401K. I would estimate that at least 50% of Americans fall into this category.

    So how does Obama get away with claiming that he will cut taxes for 95% of middle class Americans?

  10. Craig Says:

    He’s talking income tax while leaving out the rest of the taxes. It’s simply a game of perspective that all politicians play.

    I wish I had saved the link but I found a tax calculator for the two candidates tax plans. I believe it was at freep.com but I can’t seem to find it again.

  11. inkslwc Says:

    Even with income tax, it’s not true.

  12. Obama Advisor: Obama Likely to Not Repeal the Bush Tax Cuts « Republican Ranting Says:

    […] I’ve said before, Obama is all talk, on taxes, on Iraq, and on a lot of what he says.  He was elected on promises that he never intended to […]

  13. Marseyus Says:

    OMG you all act like this is the first time a president lied to us about taxes… You mean to tell me you all based your votes on what a canidate said about taxes? wow maybe you guys should go read some history books, and then go out to a bar, no president in history has ever stuck by his promise towards taxes. Look it up and quote me! so yea he lied about his tax plan, Presidents and there tax plans are such a farce that no one should EVER base there vote off of what they imply about taxes. Yea sure maybe obama will be different, but you have to see something before you believe it, unless you colorblind.
    Take it from a farmer, they will NEVER cut middle class america’s taxes, and i’m not an expert on anything except food. And no one ever care]s what they do for the providers, all anyone ever discusses is how much MONEY they will get back on taxes, and how much MONEY they will make. Worry less about your dollar, and more about whether or not your local or state farmer will be able to provide you food. Focus on the issues you can change, not the ones you can’t

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