The Liar-In-Chief Hits New Height in Hypocrisy

  Bookmark and Share  When it comes attempts to define President Obama’s debate related claim that Mitt Romney is a liar, my first reaction is tell you that the claim is the best case of the pot calling the kettle black that one could ever imagine.  But that would be characterized by the left as blatantly racists.  So here’s how I would explain President Obama’s charge.

Ever since President Obama lost last week’s debate, the left became apoplectic and tried to work through a series of emotions that ranged from fear over losing the election and anger over the President’s ineptness, to disappointment with his performance and embarrassment over his inability to defend his record. Once their shock wore off and they were able to collect themselves they quickly offered up an endless array of excuses for the President’s truly disastrous debate performance.  Some suggested that he was preoccupied by an unfolding international crisis that was yet unknown to the general public or possibly even a personal crisis.  Others like Al Gore suggested altitude poisoning was to blame. But by the time morning came, the President’s campaign released their own excuse for his embarrassing performance in a talking points memo that went out to the leading liberal spinmeisters and the left immediately fell in line to spread the word.

According to the President and the left-wing propaganda machine, President Obama failed to beat Romney in the debate because he was thrown off by the lies Romney was telling throughout the debate.  According to the President and his people, Mitt Romney lied about his own record and plans for America as well as the President’s record and plans for the nation.

The problems with that excuse is that President Obama was the one who was clearly trying to lie his own way through the debate.  With a clear inability to defend his own horrific record against Mitt Romney, President Obama tried his best to continue waging the class warfare reelection strategy that has successfully energized his base.  Part of that strategy was to try and describe Mitt Romney’s economic proposals as a $5 trillion tax cut, mainly for the rich.

But as attested to in the latest Romney ad seen below this post, the only liar on stage in Denver last week was President Obama.

When it comes to Mitt Romney’s tax plan, what President Obama neglected to mention was that when he made the charge that Romney’s tax plan cut taxes by $5 trillion, he was actually lying by taking skewed numbers from a scoring by the Tax Policy Center.  That analysis claimed  the Romney plan shifted $86 billion in taxes from the well-off to the middle class. But the problem with that particular assumption is that it relies on a false narrative which contends the reduce rates would not spur economic growth and generate new tax revenue.   Dynamic scoring of the same Romney plan  concludes the economic growth generated by those reduced tax rates would fill $53 billion of that $86 billion hole.  As for the remaining gap, Romney’s plan  to eliminate exemptions on state and local bonds and life insurance policies, would would raise an additional $45 billion.   That means that by eliminating exemptions and prompting new growth, Romney’s plan is likely to actually lower top rates and still raise more revenue.

Making President Obama’s claims even more unreliable is that the author of the initial study that Obama was misinterpreting is  now admitting, that “under those conditions and policies, Romney’s plan “would be revenue neutral.”

But with all these numbers being discussed and explained you are probably still confused with where President Obama’s $5 trillion figure came from.  Well the truth is that it is a figure which he practically pulled straight out of his ass.

Obama took the Tax Policy Center study  which neglected to  figure in the ensuing economic growth that would make Romney’s plan revenue neutral and erroneously concluded that the plan would lead to $480 billion in lost revenues by 2015.  The Obama campaign then took that incorrect figure and multiplied it by a decade.  That left them with $4.8 trillion, which they then rounded up to $5 trillion.

So that explains the lie behind the man who was really trying to deceive voters… Barack Obama.

But that wasn’t the only lie President Obama tried to muddle through the first debate with.

President Obama claimed that Romney’s plan would raise taxes on middle class families yet this flies in the face of what The Associated Press and other studies concluded which is that Romney’s  plans would not raise taxes on anyone.

Our President also used the debate to claim that  Obamacare would make health care premiums more affordable.  According to him,  “when Obamacare is fully implemented, we are going to be in a position to show that costs are going down. Over the last two years, health care premiums have gone up — it is true — but they have gone up slower than any time in the last 50 years. We are already seeing progress.

But Factcheck.org found;

“Obama wrongly said that over the last two years, health care premiums have ‘gone up slower than any time in the last 50 years.’”

Meanwhile, The Associated Press noted ;

“In 2011, premiums jumped by 9 percent” and “this year’s 4 percent increase was more manageable, but the price tag for family coverage stands at $15,745, with employees paying more than $4,300 of that.”

On the issue of Social Security the President stated during the debate that;

“Social Security is structurally sound. It’s going to have to be tweaked the way it was by Ronald Reagan and Speaker — Democratic Speaker Tip O’Neill. But the basic structure is sound.”

Yet contrary to his claim, the Congressional Budget Office concludes that Social Security will run into financial deficits. Clearly that is not a structurally sound program.

So it would seem that President Obama dedicated his first debate in the 2012 election to doing exactly what he is trying to claim Mitt Romney did… lie.  Now where I come from, that is called hypocrisy.  It’s something that even liberals would normally shun in their leaders.  But something tells me that the left will handle this the same way they have with everything else Barack Obama has ever said and done.   They will refuse to hold him accountable.

Meanwhile, congressional investigations are now taking place as we try to uncover exactly what was behind the Obama lies surrounding the terrorist attack that killed our Libyan Ambassador and three other Americans.  But if all of that still isn’t enough to convince you that Barack Obama is our Liar-In-Chief, I suggest you see watch the video below.  It’s an original,  un-narrated documentary that looks at Obama and his first term with regards to transparency, healthcare, taxes, fairness, energy, and the national debt through his own words

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Why I Love Mitt Romney’s Tax Plan

Let me start by saying this: were I the supreme commander of the United States with absolute control, the Romney tax plan would not be the final product.  I have been and will always be a fan of a pure, simple flat tax where anyone can file with anyone else and the government cannot punish or reward you for how you choose to live your life.

Preface #2: I am a licensed tax professional with experience in preparing thousands of personal, corporate, state and some types of international tax returns, so I do have a little bit of street cred on this issue.

paul ryan

The Romney tax plan is something Paul Ryan can proudly run on

All that being said, I love Mitt Romney’s tax plan.  First, it is not wimpy.  It is not RINO, status quo policy.  The Romney tax plan will be easy to run against for someone like Obama, who is willfully choosing to run as dishonest a campaign as he possibly can.  It has necessary trade offs and it destroys the leverage of special interest groups.  It makes it so that billionaires can no longer zero out their tax returns.  It will be a small tax hike for people like Mitt Romney, who can sit back and collect carrying interest and dividends and live comfortably on that income.  It will be a tax break for the middle class.

The best thing about the Romney tax plan is that it ends the power of special interest groups that is built into the tax code.  Currently, people and corporations are punished and rewarded by the tax system for certain behaviors.  For example: if you go to school, you are rewarded.  If you rent your home, you are punished.  If you put all your money in interest-free muni bonds, you are rewarded.  If you sell your capital assets with less than a year holding period, you are punished.  While there is still uncertainty as to which credits, deductions and loopholes Romney would eliminate, the key is that he will be eliminating many and trading them for a 20% tax cut across the board.

That brings me to the second best thing about his plan: it means a simpler tax return.  Just when you thought it was impossible enough to do your own taxes, with Obama’s plan, now you will have to record your health insurance on your tax return, and if you make a certain amount you will have 3.8% in extra taxes on investment income and .9% extra on wages.  Have fun with those IRS schedules, and don’t screw it up or they’ll catch you two years from now plus interest and penalties.

The Romney plan will eliminate pages of schedules and forms from your tax return and trade them for a simple across the board rate reduction.

If Democrats knew enough about the tax code to understand what this plan does, they would support it too.  Instead of lobbing an extra 4.7% tax increase at taxpayers (including small business owners) who make $200,000, plus an additional 3-4.6% if Obama has his way with the Bush tax cuts, the Romney plan eliminates the tricks that the mega rich use to cut their tax rates below 15%.  It is a targeted change to the tax system, not a hatchet rate increase that harms employers.

If Romney is raising taxes on the super-rich who shelter their income, won’t that hurt growth?  No, and especially not compared to Obama’s plan.  Obama’s plan is to increase the dividend rate to the income tax rate.  That’s a tax hike of up to 19.6 percentage points.  Obama plans to hike capital gains taxes by 5 percentage points.  Romney would leave those taxes as is for the wealthy and eliminate them for people who make less than $200,000.  In other words, if you are middle class you will be able to invest money without paying 15% off the top to the government.  That will change the risk reward ratios for millions of middle class investors and shift capital ownership while encouraging saving among the middle class and not discouraging investment among the rich.

Then there are the tax cuts for businesses to make the US more competitive with other countries.  Also, by switching to a territorial tax system, Romney let’s multinational companies invest in American growth without being penalized and removes the incentive to keep investments off-shore.  This will allow companies to bring overseas profits back to the United States to build headquarters, offices, and manufacturing plants here instead of keeping it in other countries to avoid a US tax hit.  Then the income from this new American growth will contribute to American tax revenues going forward.  With the current system, we tax multinational companies if they want to invest dollars in the US, even if they have already paid foreign taxes on those dollars.

Romney will have some difficulty with certain groups.  For example, if he takes away the $250 deduction for teachers buying teaching supplies in exchange for a 20% tax cut, you can bet there will be ads run with poor children holding out their empty backpacks and a subtext about how they used to have school books but Romney took them away.  If Romney touches the mortgage interest deduction in exchange for a 20% tax break, you can bet the National Association of Realtors will be running ads with homeless people talking about how Romney took their opportunity at home ownership away.  Those special interest groups will hang on tough.  Democrat city mayors who would normally decry the rich for sheltering their income will suddenly discover that tax free interest on municipal bonds is the only thing keeping society from turning into some sort of post-apocalyptic jungle.  Never mind that middle class families will pay less in taxes under the Romney plan; threaten to take away their mortgage interest deduction and most do not know enough to be OK with that.

Then there is the valid argument that the rich already pay their fair share of taxes.  But the Romney tax plan doesn’t target the rich who invest their money in American businesses like Obama’s plan does; it targets the rich who get high life insurance payouts tax-free, who shelter their money in tax-free municipal bond interest, who invest in oil and gas wells to shelter income through high amortization expenses, and so on.  Won’t that hurt investment in oil and gas, you may ask?  Not with Romney as President instead of Obama, because he will open up the avenues for exploration to the point where major companies can hire and get involved.  Then average citizens like you and I will have more opportunity to invest in companies that buy and develop oil fields.  And on top of that, we won’t have to pay taxes on our dividends and capital gains from those investments.

I’ll be honest: I liked the Bush tax cuts, but I didn’t love them.  They made some things more complex and left much of the rest of it at the same complexity.  Meanwhile, they cut taxes across the board.  I applauded their passage and re-passage under Obama, but they didn’t fundamentally change our tax code from the garbled, complicated special interest buffet that it is right now.  I hated Herman Cain’s plan; it would have been a more complicated mess than what we have now, and would have been a huge tax hike on the poor and middle class.  I’ve written extensively about it here at Whitehouse12.com.

I love Mitt Romney’s tax plan, and I never imagined that I would.  Additionally, he hired the right guy, Paul Ryan, to explain it, because it will be much easier to distort his plan for political gain than to spell it out in a way that people can understand.  To be sure, it is an over-all tax cut.  There is no denying that.  However, if it inspires growth as it is designed to, the revenue increase will make up the difference and keep it revenue neutral as promised.  Even the Tax Policy Center, which originally claimed Romney would hike taxes on 95% of Americans, has come clean and admitted his plan is viable.

In my mind, no tax plan will be perfect until it is flat and cuts spending by at least $2 trillion.  But this is the next best thing.

Latest Lie from Obama

When I saw the story from the Tax Policy Center, a non-partisan wing of the liberal Urban Institute and Brookings institute, declaring that Romney’s tax plan would raise taxes on the poor and middle class in order to give a tax cut to the rich, I knew it wouldn’t be long before Obama was campaigning on it.  The Obama administration has determined that the claims they make in their advertising doesn’t have to be true, it just has to be citable.

latest obama lie

The latest lie from the Obama administration

What the Tax Policy Center did was made up half of Romney’s plan.  In case you were wondering, they made up the half where Romney raises taxes on the poor and middle class to pay for tax cuts for the rich.  They started with the assumption that the Romney economy would be as terrible as the Obama economy.  Then they took only the proposed rate cut for the rich in Romney’s plan, minus potential elimination of certain deductions for the rich, and figured what it would take to balance the budget with our current low GDP and high unemployment.  They turned that remaining dollar amount into a tax hike on the poor and middle class.  Nevermind it is a false premise based on wrong numbers assuming parts of Romney’s plan that he has explicitly said are the opposite of what he intends to do.

And that’s all Obama needed to start running on Romney’s tax hikes for the poor to pay for tax cuts for the rich.

So I thought I would run my own numbers.  Obama has promised to cut the deficit by $3.2 trillion over the next ten years.  Please, stop laughing.  No, really, this gets better.  Do I have you back yet?  The problem is that eliminating the Bush tax cuts for the top two brackets will only raise $848 billion over the next ten years.  Follow?  So nevermind balancing the budget.  If Obama wants to cut the deficit by $3.2 trillion and only increase taxes on the rich by $848 billion, that means that Obama is going to raise taxes on the poor and middle class by $2.4 trillion dollars.  Think about it.  You know Obama isn’t going to cut spending.  So where is the rest of the money coming from?

Let me repeat that.  President Barack Obama’s tax plan will increase taxes by $2.4 trillion dollars on the poor and middle class.  On average, that is a $26,000 tax increase on every family in America that makes less than $250,000 over ten years, or $2,600 a year.

So there is your clear choice from the non-partisan Whitehouse12.com.  Romney might be raising taxes on every middle class family by $2,000 to give a tax cut to the rich, but by the same reasoning Obama is raising taxes by $2,600 for every family that makes less than $250,000 a year so that he can give tax cuts, stimulus funds, and handouts to unions, supporters like the owners of Solyndra, abortion overseas, and his friends.  Does that sound like a good economic plan?  Pay $2,600 more in taxes so Obama can fund his friends?

The difference between Romney and Obama is that Romney isn’t going to use this article in a campaign commercial.

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