Obama Makes False Claims during Business Week Interview

From Douglas Kellogg on Thursday, July 30, 2009 5:02 PM

Business Week magazine has published an interview with President Obama in which he makes misleading claims about his tax policies.

OBAMA CLAIM: “I haven't signed a bill that's raised taxes yet.”

FACT: Just 16 days into his Presidency, Barack Obama broke his central campaign promise not to raise any tax on those making under $250,000 a year.

On February 4, 2009, President Obama signed a 156 percent increase in the federal excise tax on tobacco into law. The hike of 61 cents per pack, took effect on April 1.

OBAMA CLAIM: “To the extent that we have put in place policies, they've all been directed at helping businesses.”

FACT: The President has championed:

- Double-taxation of U.S. firms with subsidiaries abroad: As Microsoft CEO Steve Ballmer said, Obama’s double-tax proposal will cause the company to move jobs out of the U.S.: “It makes U.S. jobs more expensive…we’re better off taking lots of people and moving them out of the U.S.”

- “Cap-and-trade” legislation: Obama supporter Warren Buffet called “cap-and-trade”, “A huge tax, and there’s no sense calling it anything else.”

- Trade protectionism

- Health care taxes: President Obama has championed legislation that calls for new taxes on small businesses.

Click HERE for a PDF of the full release

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Obama Makes False Claims during Business Week Interview

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