Obama's Four Tax Increases

I confess. Senator Obama's two tax promises: to limit tax increases to only those making over $250,000 a year, and to not raise taxes on 95% of "working Americans," intrigued me. If Senator Obama is shooting straight with us, under his presidency I could look forward to paying no additional Federal taxes -- I might even get a break -- and as I struggle to support a family and pay for two boys in college, a reliable tax freeze is nearly as welcome as further tax cuts... [snip]

The first loophole was easy to find:

Senator Obama doesn't "count" allowing the Bush tax cuts to lapse as a tax increase. Unless the cuts are re-enacted, rates will automatically return to the 2000 level. Senator Obama claims that letting a tax cut lapse -- allowing the rates to return to a higher levels -- is not actually a "tax increase." It's just the lapsing of a tax cut.

See the difference?

Neither do I.

Senator Obama is willfully deceiving you and me when he says that no one making under $250,000 will see an increase in their taxes. If I were keeping score, I'd call that Tax Lie #1...

[there's more - know what we're in for > ]

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