In preparation for the anniversary of President Obama’s inauguration, Americans for Tax Reform has prepared a series of posts on various aspects of his economic policies. You can find snippets, along with links to the full articles, below.
Obama’s First Year: $2 Trillion in New, Proposed Taxes
We often get the question at ATR, "how much has Obama supported in new taxes?" This new study seeks to answer that question.
For the first time ever, the tax increases signed into law, as well as proposals for tax hikes made by or supported by President Obama have been pieced together. It combines three elements:
Broken Promises: Obama’s First-Year Tax Hikes On Families Making Less Than $250,000
Sept. 12, 2008: Candidate Obama said the following:
“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” (
Dover, NH) [Transcript
] [Video clip
Feb. 4, 2009: Speaking before a joint session of Congress, Obama said:
“If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.”
April 15, 2009: When asked if Obama’s tax pledge applies “to the health care bill”, White House spokesman Robert Gibbs replied:
“The statement didn’t come with caveats.”
(White House Briefing) [Transcript
This promise has been broken again and again. Read exactly how after the jump
Obama’s First Year: Stimulating Unemployment
In January, the Obama Administration the$787 billion so-called “stimulus” would “create or save” 2.5 million jobs immediately, and 4.1 million jobs by 2010. It was claimed the “stimulus” plan would lead to an unemployment rate of below 8 percent.
It is only fair to judge the President’s plan on the benchmark’s he himself set. Unemployment should now be well below 8%.
In fact, since the Stimulus, 2.74 million jobs have been lost, at a cost of $287,226.28 per job.
Obama’s First Year: A Year Of Fuzzy Math
In promoting the $787 so-called “stimulus”, President Obama claimed it would “create or save” 2.5 million jobs immediately, and 4.1 million jobs by 2010.
So what are these? It turns out that there are so many examples of "fuzzy math" when it comes to the "stimulus" jobs data, Americans for Tax Reform launched a series called “Stimulus Fuzzy Math”.
Some examples included:
• In Missouri, a diving company received stimulus dollars to work on a project which had a seven-man team of divers from Kentucky spend four days retrieving a broken steel turbine blade from the bottom of Stockton Lake. The report submitted to the Recovery Board claimed the project “created or saved” 7.5 jobs, but failed to point out that the project duration was four days – and none of the employees working on the project would have lost their job if it hadn’t been for the funding.
Obama’s First Year: Protectionist Trade Agenda Costs American Consumers
Day 13 – Feb. 1: The European Union warns the US of serious ramifications, including an international trade war, if the President pursued a “Buy American Policy”.
Day 29 – February 17: Obama signs the “Stimulus” bill and violates his transparency pledge to the American people that he will allow legislation to be posted online for five full days before signing it.
The “stimulus” still includes “Buy American” protectionist language. U.S. cities and some states aren’t obligated to follow the rules of the World Trade Organization and the North American Free Trade Agreement (NAFTA).
"I agree that we can’t send a protectionist message," Obama said in an interview
earlier in the month.
Click here to read more
Obama’s First Year: Transparency – The Good, the Bad, and the Ugly
Throughout the campaign, President Obama made many promises to increase transparency and accountability in Washington. And while some of his supporters cheerfully assign him good grades when evaluating his record in this area, a closer look reveals that in terms of fulfilling his transparency promises, his first year in office holds a mixed bag at best. Here’s a look at the good, the bad and the ugly.
Click here to read more