Taxes Archives - Page 25 of 36

Boehner’s Big Stretch on Small Business

November 9, 2011

House Speaker John Boehner claimed that “small-business people” make up more than half of those who would be hit by a tax increase on “millionaires.” Not really. Only 13 percent of those making over $1 million get even as much as one-fourth of that income from small business, according to government tax experts.
Old Exaggerations
Republicans have for years greatly exaggerated the extent to which higher taxes on upper-income individuals would fall on owners of small businesses.

Cain’s Pattern of Evasion and Misdirection

November 2, 2011

Herman Cain’s prevarications about how accusations of sexual harassment were settled are only the most recent example of the candidate’s penchant for making contradictory statements on major issues. He also has made a habit of telling untruths about his own stance on abortion and about his signature 9-9-9 …

Perry’s Dubious Tax Promise

October 31, 2011

In his speech unveiling his proposed “flat tax” overhaul of the tax system, Rick Perry promised that “taxes will be cut across all income groups in America.” But a newly released analysis of his plan by the nonpartisan Tax Policy Center concluded that many lower-income persons and families would see their taxes go up.
In his Oct. 25 “Cut, Balance, Grow” speech, Perry said a beefed up standard deduction assured lower- and middle-class residents would see a tax break.

Cain’s ‘Fiscal Hocus Pocus’

October 13, 2011

A former chief of staff of the nonpartisan Joint Committee on Taxation calls Herman Cain’s 9-9-9 plan “a terrific example of fiscal hocus pocus” that would have the effect of “drastically increasing taxes on the working poor and middle class.” Edward Kleinbard, now a professor of law at the University of Southern California’s Gould School of Law, published a research paper through the university on Oct. 12. It is so far the most detailed look at the 9-9-9 plan by any independent tax expert,

Tales From New Hampshire

October 12, 2011

Our research has turned up some more dubious and misleading claims from the economic debate among Republican candidates in Hanover, N.H. Cain claims his 9-9-9 proposal to overhaul the tax code is “simple, transparent, efficient, fair, and neutral.” But his campaign …

Obama No ‘Different’ Today on Taxes

October 5, 2011

An American Crossroads TV ad claims Obama’s position on taxes is “different” than it was in 2009. It isn’t.
The conservative group began airing a new TV ad in St. Louis on Oct. 3 in advance of the president’s fundraising trip to Missouri. The ad, titled “Don’t,” urges Obama not to raise taxes. But it distorts the president’s position on taxes two years ago by taking a snippet of an Obama interview in August 2009 and using it out of context.

She’s No ‘Buffett’s Secretary’

October 3, 2011

A liberal group’s TV spot features a working mother who says she’s like “Warren Buffett’s secretary” and pays higher tax rates than “many billionaires and millionaires.” Not quite. With her $40,000 income and three kids, she’d actually pay a far lower rate than Buffett says he paid on his income. So, she’s not like his secretary. Furthermore, her rate would also be lower than the rate paid by the vast majority of those making more than $1 million a year.

Christie’s Tax Tale

September 28, 2011

Chris Christie shaded the truth when he took credit for closing New Jersey’s budget gap “without raising taxes.” It’s true he didn’t raise state taxes, but the governor’s first budget extensively revised and reduced a program that once provided residents with local property tax rebate checks. As a result, nearly 1 million homeowners received an average $269 property tax credit in fiscal year 2011, down from an average rebate check of $1,035 the year before.
The New Jersey governor spoke Sept.

Obama’s Teacher Tax Whopper

September 28, 2011

President Obama’s claim that he pays a lower tax rate than a teacher making $50,000 a year isn’t true. A single taxpayer with $50,000 of income would have paid 11.9 percent in federal income taxes for 2010, while the Obamas paid more than twice that rate — 25.3 percent (and higher rates than that in 2009 and 2008). And if the $50,000-a-year teacher were in Obama’s tax situation — supporting a spouse and two children —

CNN/Tea Party Debate

September 13, 2011

The GOP presidential candidates debated for the second time in six days — tossing out a variety of false and misleading claims on everything from Social Security to vaccines for sexually transmitted diseases. …