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Thursday, July 30, 2009
5:02 PM EDT
Douglas Kellogg

Obama Makes False Claims during Business Week Interview

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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