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MTP Facts On Debbie Wasserman Schultz #2

RNC Communications - June 12, 2011

MTP FACTS ON DEBBIE WASSERMAN SCHULTZ #2

DWS Claimed…

Democrats are cutting taxes

But The Record Shows…

Obama And The Democrats Want More Tax Hikes On Job Creators:

President Obama Is Insisting On More Tax Hikes To Balance The Budget. “In a meeting with House Democrats on Thursday, President Obama stressed that his administration would draw a firm line on taxes and revenues both in the deficit- and debt-reduction debates and in the buildup to the 2012 elections.” (Sam Stein, “Obama Won't Extend Bush Tax Cuts Again: Pledge To House Dems,” The Huffington Post, 6/2/11)

Treasury Secretary Geithner Said That The Administration Is Seeking $1 Trillion In Tax Hikes. “Several sources present at the meeting with Geithner said he called for tax hikes to equal $1 trillion and $2 trillion in spending cuts, including changes to the Medicare reimbursement rate to doctors.” (Jake Sherman and Marin Cogan, “Frosh Leave Geithner Talk Frustrated,” Politico, 6/2/11)

President Obama: “I Say That At A Time When The Tax Burden On The Wealthy Is At Its Lowest Level In Half A Century, The Most Fortunate Among Us Can Afford To Pay A Little More.” (President Barack Obama, Remark By The President On Fiscal Policy, WhiteHouse.gov, 4/13/11)

The Washington Post Fact Checker: “Obama Is Stretching It To Claim This Is “The Lowest” In A Half Century.” (Glenn Kessler, “A Rare Geppeto For Paul Ryan’s Assertion On Obama’s Hidden Top Marginal Tax Rate,” The Washington Post, 5/23/11)

  • The Washington Post Fact Checker: President Obama Plans To Increase The Top Tax Rate By 20 Percent, Well Beyond “A Little More.” “Put another way, Ryan shows that Obama’s budget would effectively boost the marginal rate for high earners by a hidden 7.5 percentage points, or an increase of 20 percent. For every $100,000 of additional income, about $45,000 would go to federal taxes.” (Glenn Kessler, “A Rare Geppeto For Paul Ryan’s Assertion On Obama’s Hidden Top Marginal Tax Rate,” The Washington Post, 5/23/11)
  • The Washington Post Fact Checker: That “Strikes Us As More Than Pocket Change.” “Meanwhile, we are going award one Pinocchio to President Obama for claiming that the wealthy would pay ‘a little more.’ That phrase is relative, but the hidden 7.5 percentage points identified by Ryan strikes us as more than pocket change.” (Glenn Kessler, “A Rare Geppeto For Paul Ryan’s Assertion On Obama’s Hidden Top Marginal Tax Rate,” The Washington Post, 5/23/11)

Obama Pays For His Government Takeover Of Health Care With Nearly $570 Billion In Job-Destroying Taxes On Small Businesses, Investments And Innovation. (Douglas W. Elmendorf, Letter To Nancy Pelosi, Congressional Budget Office, 3/20/10; “Estimated Revenue Effects Of The Amendment In The Nature Of A Substitute To H.R. 4872: JCX-17-10,” Joint Committee On Taxation, 3/20/10)

“President Barack Obama Told The Nation’s Business Leaders He Wanted To Be Friends. But After Releasing His Budget On Monday, They’re Not Feeling The Love.”  (Chris Frates, “Business Cool To Obama’s Budget,” Politico2/15/11)

  • “The Budget Also Proposes Roughly $300 Billion In New Taxes On Energy Companies, Multinationals And Banks. So Much For The New Detente Between The White House And Business.”  (Editorial, “The Cee Lo Green Budget,” The Wall Street Journal2/15/11)

Obama’s Budget Raises Taxes By $1.6 Trillion, With Businesses Taking A Significant Hit. “However, Obama also would rely heavily on new taxes, to a degree unacknowledged by administration officials in recent days. His budget request calls for well over $1.6 trillion in fresh revenue over the next decade, much of it through higher taxes on the wealthy and businesses.” (Lori Montgomery, “Obama Budget Projects Record $1.6 Trillion Deficit,” The Washington Post,2/14/11

Since February, President Obama Has Proposed $2 Trillion In New Taxes. “In the case of the new White House proposal, its baseline starts with the assumption that the Bush-era tax cuts for higher earners are allowed to expire after 2012. That puts about $1 trillion in revenues into the White House estimate of future tax revenues right off the bat, even before the $1 trillion in new tax revenues that the president now is proposing to raise.” (John D. McKinnon, “Battle Of The Baselines,” The Wall Street Journal’s “Washington Wire” Blog, 4/15/11)

Over Half Of The Savings From Obama’s New Deficit “Plan” Come From Tax Increases. “So of the 3.4 percentage points of savings, more than half — 1.9 points — comes from taxes. That’s 56 percent, not the one-third or one-quarter that Obama was talking about. And I am assuming that Goldman is using the White House’s rosier economic forecasts when evaluating Obama’s plan.” (James Pethokoukis, “Obama’s New Plan May Actually Rely 60 Percent On Tax Increases,” Reuters, 4/15/11)

The President’s FY2012 Budget Proposes A Series Of Tax Increases That Were Already Rejected By The Democrat-Controlled Congress. “President Barack Obama's budget proposal resurrects a series of tax increases on certain corporations and the wealthy that were largely ignored by Congress when Democrats controlled both chambers.” (Stephen Ohlemacher, “Obama Budget Resurrects Rejected Tax Increases,” The Associated Press, 2/14/11)

  • And Obama’s New Plan Will Go Further And “Aim Its Firepower” At Taxes. “But in addition to suggesting cuts—the current focus of debate—the White House looks set to aim its firepower on a more divisive topic: taxes.” (Carol E. Lee And Damian Paletta, “Obama Puts Taxes On The Table,” The Wall Street Journal,4/11/11)

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