Ad: BlueJ Better Tax Answers. -Accomplish hours of research in seconds -Instantly draft high-quality communications -Verify answers using a library of trusted tax content. Learn more

ATR: Obama’s Broken Tax Pledge

Americans for Tax Reform, Gibbs Misleads Public on Obama’s Broken Tax Pledge:

White House spokesman Robert Gibbs seems to have forgotten that his boss has already broken his central campaign promise – a “firm pledge” that “no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”

Responding to a question during his daily press briefing today, Gibbs said, “The President believes raising taxes on the middle class during this economic time would not make a lot of economic sense.”

But President Obama has already broken his “firm pledge” at least eight times:

  1. 156% Federal Tobacco Tax Hike (took effect April 1, 2009)
  2. 10% Tax on Indoor Tanning Services (took effect July 1, 2010)
  3. The “Medicine Cabinet Tax” (takes effect Jan. 1, 2011)
  4. The HSA Withdrawal Tax Hike (from 10% to 20%) (takes effect Jan. 1, 2011)
  5. The“Special Needs Kids Tax” ($2,500 cap on FSAs) (takes effect Jan. 1, 2013)
  6. The Obamacare Medical Prosthetics and Devices Tax (takes effect in Jan. 1, 2013)
  7. The Medical Itemized Deductions Cap (from 7.5% to 10%) (takes effect Jan. 1, 2013)
  8. The Obamacare Individual Mandate Excise Tax (up to $2,085 or 2.5% of AGI) (takes effect Jan. 1, 2014)

Tax Foundation, How Would President Obama's Tax Plan Raise Tax Payments for a Couple Earning $250,000 or Less?


About the Author

Ad: BlueJ Better Tax Answers. Blue J's generative AI tax research solution is transforming how tax experts work. Learn more.
Information and rates on advertising on TaxProf Blog

Discover more from TaxProf Blog

Subscribe now to keep reading and get access to the full archive.

Continue reading