Q: Is the new health care law “the biggest tax increase in history”?
A: In raw dollars, perhaps. But several tax increases just since 1968 were larger as percentages of the economy, or in inflation-adjusted dollars.
Issues: Taxes
Stretching on Romney’s Fees
An ad from the Obama campaign exaggerates the truth about fees and tax hikes imposed by Mitt Romney when he was governor of Massachusetts.
It lists numerous fees hiked by Romney, but we found that a number of them are misleading — seeming to be more far-reaching and broad than they really are.
The ad also repeats a misleading claim about Romney cutting taxes “on millionaires like himself,” and botches the figure for the revenue gained by Romney imposing higher fees and closing corporate tax loopholes.
Dueling Distortions in North Carolina
It didn’t take long for the governor’s race in North Carolina to turn ugly. Although it’s only June, Republican Pat McCrory and Democrat Walter Dalton both find themselves under attack from outside groups spending heavily on misleading TV ads:
A Democratic group claims McCrory, a former mayor of Charlotte, “used his position as mayor to lobby state government for millions in tax breaks” for a company that paid him “over $140,000 to sit on its board.”
Romney’s Jobs Record Is Best (or Worst)
A campaign ad that praises Mitt Romney’s performance as governor of Massachusetts presents a slanted view of his record on jobs, unemployment and taxes. To every claim, there is a “yes, but” qualifier.
The Romney ad claims that as governor, “Romney had the best jobs record in a decade.” Yes — Massachusetts added more net jobs during Romney’s four years in office than during the four-year period of either his predecessor or successor. But — that ignores the national recessions before and after Romney’s time in office.
Obama Twists Romney’s Economic Record
A new ad from the Obama campaign takes aim at Mitt Romney’s performance as governor of Massachusetts, claiming he had “one of the worst economic records in the country.” But the ad overreaches with several of its claims. The ad states that job creation …
A Bogus Tax Attack Against Obama
The latest multimillion-dollar attack ad from Crossroads GPS claims President Obama broke a promise to not increase taxes for families making less than $250,000 a year. That’s almost entirely false.
The truth is that Obama repeatedly cut taxes for such families, first through a tax credit in effect for 2009 and 2010, and beginning in 2011, through a reduction in the payroll tax that is worth $1,000 this year to workers earning $50,000 a year.
Romney’s ‘Gross’ Exaggeration on ‘Obamacare’
Mitt Romney falsely claims government will “constitute … almost 50 percent” of the U.S. economy when the new federal health care law takes full effect. But Romney gets to 50 percent by erroneously counting all health care spending — private and public — as “effectively under government control once Obamacare is fully implemented,” as his spokesman put it.
That’s nonsense — just as it was two years ago, when Rep. Michele Bachmann made a similar bogus claim.
Stretching the Truth in Nebraska
Club for Growth Action is out with another attack ad on Republican Senate candidate Jon Bruning, this time stretching to paint him as a “big taxer.” Earlier this month, the group exaggerated Nebraska Attorney General Bruning’s spending record.
The latest ad says Bruning “once called for higher gas taxes and Social Security taxes.” But it doesn’t mention that he did so back in 1992 in an opinion piece in the University of Nebraska’s Daily Nebraskan,
The Facts About ‘Fat Cats’
Even though we are serious-minded fact-checkers, we are not completely without humor, and MoveOn.org’s latest TV ad on “fat cats” and the “Buffett Rule” is pretty funny. But the ad may leave an im-purr-fect impression. One that’s off by more than a whisker.
The TV ad says, “President Obama’s Buffett Rule would require millionaires and billionaires to pay the same tax rate as the rest of us.” But on average “millionaires and billionaires” already pay more than the rest of us,
Obama and the ‘Buffett Rule’
In their zeal to pass the “Buffett Rule,” President Obama and Vice President Biden leave the false impression that many, if not most, millionaires (people who earn $1 million or more a year) are paying a lower tax rate than the middle class. The fact is that even without the Buffett Rule “more than 99 percent of millionaires will pay” a higher tax rate than those in the very middle of the income range in fiscal year 2015,