Worth Noting

Obama's 95% Illusion

October 12, 2008

One of Barack Obama's most potent campaign claims is that he'll cut taxes for no less than 95% of "working families." He's even promising to cut taxes enough that the government's tax share of GDP will be no more than 18.2% -- which is lower than it is today.

It's a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he's also proposing one of the largest tax increases ever on the other 5%. But how does he conjure this miracle, especially since more than a third of all Americans already pay no income taxes at all? There are several sleights of hand, but the most creative is to redefine the meaning of "tax cut."

FULL ARTICLE: http://online.wsj.com/article/SB122385651698727257.html

Related Note

Placeholder note
February 08, 2018 |
Worth Noting
On Wednesday, I was honored to speak at the Winter Meeting of the Republican National Committee about the how important and impactful the 2018 elections could be for America. Below is an excerpt of my remarks. Let me thank all of you, particularly thos...
Placeholder note
December 21, 2017 |
Worth Noting
The distribution tables from the Joint Committee on Taxation (JCT) for the tax reform bill passed by Congress give the lie to Democratic claims that the legislation is a big tax cut for the 1% and the shaft for the middle class. According to my for...
Placeholder note
November 02, 2017 |
Worth Noting
...
Placeholder note
October 12, 2017 |
Worth Noting
From The Lindsey Group - Tax Reform and the Swamp: The Empire Strikes Back Last Thursday, recently confirmed CEA Chair Kevin Hassett (a TLG alum) gave a speech at the Tax Policy Center (TPC). The speech highlighted a number of significant discrepanci...
Button karlsbooks
Button readinglist
Button nextapperance