Saturday, February 28, 2009

He lied, I cried

The great website lists numerous lies President Obama has told in his most recent speech: see here for a complete list. But his major whopper is his claim that 95% of working American households would receive a tax cut. This is impossible, as more than 5% of American households pay no taxes. Many families actually receive more in EITC payments than they pay in taxes. (I've done tax preparation professionally; trust me on this). The tax credit is refundable, which means many low-income families will receive far more than their income tax burden. (A non-refundable credit can only bring your tax burden to zero). It is really a transfer payment, not a tax cut.

It seems like President Obama may have the same regard for truth that his last few predecessors have had: basically zero.

1 comment:

rod said...

According to the graph we are in FACT importing more oil in this decade compared to previous decades. I'm sure there are several factors that explain why total numbers in barrels imported went down since 2005 but do we really need to discuss why we need to seek out alternative energy?

Obama was off by 30 seconds. OH MY GOD WHAT A LIAR!!

If 75% of the entire population constitutes 95% of *working* families how is that lying?

It's very important to stay factually accurate but at least obama's *lies* (so far at least) haven't killed thousands of innocent people.