Showing posts with label Tax Policy Center. Show all posts
Showing posts with label Tax Policy Center. Show all posts

Monday, October 29, 2012

Some Of Romney's Biggest Debate Lies


Here are the seven biggest lies Romney told: LINK

ROMNEY THE LIAR:
“We have fewer people working today than we had when the president took office.”

This is flatly false.
The Bureau of Labor statistics just revised estimates from March 2011 to March 2012 upwards by 386,000 jobs—meaning that Obama crossed the magic imaginary barrier of net job creation for his term, and has actually created a net positive 125,000 jobs. This is a simple fact. And there have been 868,000 jobs created in the private sector during this time, which have been offset by public sector job losses—something Mitt Romney would like to see continue.

Moreover, this is an awful tough metric to judge Obama on in the first place. As he’s fond of mentioning, the economy was hemorrhaging 800,000 jobs a month when he took office—so holding him to a net job creation standard means he has to make up for those massive losses that were out of his control entirely. But he’s still done it.

ROMNEY THE LIAR:
“I don’t believe employers should tell someone whether they could have contraceptive care or not. Every woman in America should have access to contraceptives.”

Recall back in March, when Senator Roy Blunt of Missouri introduced a bill that would allow employers to deny contraceptive coverage to employees.

Mitt Romney THE LIAR said: “Of course I support the Blunt amendment…. Of course Roy Blunt, who is my liaison to the Senate, is someone I support and of course I support that amendment. I clearly want to have religious exemption from Obamacare…. I really think all Americans should be allowed to get around this religious exemption.”

This one is pretty simple.

ROMNEY THE LIAR:
“I am not going to have people at the high end pay less than they’re paying now. The top 5 percent of taxpayers will continue to pay 60 percent of the income tax the nation collects. So that’ll stay the same. Middle-income people are going to get a tax break.”

A Center for American Progress examination of Romney’s tax plan concluded that the top 10 percent of income earners would reap half of the plan’s benefits, and the top 1 percent would reap one-third of the benefits.

Romney tries to dodge this unassailable fact by saying he’ll cut deductions for the wealthy—but he refuses to say which ones. He’s also ruled out raising the tax breaks the wealthy get on capital gains and dividends. This lead the nonpartisan Tax Policy Center to conclude that Romney would have to end up cutting deductions used by the middle class to make his math work—thus raising their taxes.

ROMNEY THE LIAR: “As a matter of fact, oil production is down 14 percent this year on federal land.”

Obama immediately challenged this point, leading to the first of many back-and-forths between the president and Romney. But Obama was right. It’s true that drilling on public lands dropped 14 percent in 2011, but it went up 15 percent the year before. Overall oil production on federal lands is up under Obama—and Romney is being extremely dishonest in singling out the one year that it dropped.

We must pause here to note that—since the oil drilled on federal land in the United States has zero impact on global gas prices, since it’s such a trivial amount—it’s not such a hot idea, and not one Obama should be particularly proud of increasing. But he did increase it.

Also, it should be noted that Romney plainly said later in the debate that “coal jobs are not up.” In fact, 1,500 jobs in the coal industry have been created since Obama took office.

ROMNEY THE LIAR: “And — and so we — we took a concerted effort to go out and find women who had backgrounds that could be qualified to become members of our cabinet. I went to a number of women’s groups and said, ‘Can you help us find folks,’ and they brought us whole binders full of women. I was proud of the fact that…[Massachusetts] had more women in senior leadership positions than any other state in America.”



First of all, that effort was spearheaded by a nonpartisan coalition of women’s groups, not Romney. Second, the number of women in high-level appointed positions declined 27.6 during his tenure as governor.

Also, there were no binders full of women at Bain Capital—there were no female partners at that firm during the 1980s and 1990s, according to The Boston Globe. Today, only four of forty-nine of the firm’s managing directors are women.

More importantly, as my colleague Ben Adler notes, Romney has opposed pay equity for women in much more substantive policy ways beyond these anecdotes—opposing the Lily Ledbetter Fair Pay Act and the Paycheck Fairness Act.

ROMNEY THE LIAR: “I want to make sure we keep our Pell Grant program growing.”

This is simply not true. Romney and his running mate would cut Pell Grants—Romney has been vague on the issue, using ominous budgetspeak that he wants to “refocus” Pell Grant dollars to “place the program on a responsible long-term path,” but Paul Ryan has been far more specific—his budget would cut Pell Grants for up to 1 million students.

ROMNEY THE LIAR:
“We’re going to bring that pipeline in from Canada. How in the world the president said no to that pipeline? I will never know. This is about bringing good jobs back for the middle class of America, and that’s what I’m going to do.”

Romney is joining many other members of the Republican party in saying the Keystone Pipeline is a job-creation engine. It’s not. The Cornell Global Labor Institute says it would create only 2,500 to 4,650 short-term construction jobs while it was being built—and the State Department found similar numbers in its environmental review of the project. That’s not enough to impact the unemployment rate, and is notably far, far less than the millions of jobs independent analysts say would be created by Obama’s American Jobs Act, which focuses on many infrastructure projects and increased hiring of teachers and public safety workers.

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Wednesday, October 17, 2012

Romney Lies And Misleads On Taxes and Deficit


ROMNEY MISLEADS:
"I'm going to bring rates down across the board for everybody, but I'm going to limit deductions and exemptions and credits, particularly for people at the high end, because I am not going to have people at the high end pay less than they're paying now."

THE FACTS:
Romney is proposing to cut all income tax rates by 20 percent, eliminate the estate tax and the alternative minimum tax, maintain and expand tax breaks for investment income, and do it all without adding to the deficit or shifting the tax burden from the wealthy to the middle class. He says he would pay for the tax cuts by reducing or eliminating tax deductions, exemptions and credits, but he can't achieve all of his goals it under the budget rules presidents must follow.

The Tax Policy Center, a Washington research group, says in a study that the tax cuts proposed by Romney would reduce federal tax revenues by about $5 trillion over 10 years. The study concludes that there aren't enough tax breaks for the wealthy to make up the lost revenue, so the proposal would either add to the deficit or shift more of the tax burden on to the middle class.

Romney's campaign cites studies by conservative academics and think tanks that say Romney's plan will spur economic growth, generating enough additional money to pay for the tax cuts without adding to the deficit or shifting the tax burden to the middle class. But Congress doesn't recognize those kinds of economic projections when it estimates the budget impact of tax proposals.

___

ROMNEY LIES:
"A recent study has shown that people in the middle class will see $4,000 a year in higher taxes as a result of the spending and borrowing of this administration."

THE FACTS: Romney's claim is based on an analysis by the conservative American Enterprise Institute that examines the amount of debt that has accumulated on Obama's watch and in a potential second term and computes how much it would cost to finance that debt through tax increases. Annual deficits under Obama have exceeded $1 trillion for each year of his term.

However, Obama is not responsible
for all of the deficits that have occurred on his watch. Most of the federal budget — like Medicare, food stamps, Medicaid and Social Security — runs on autopilot, and no one in a leadership position in Washington has proposed deep cuts in those programs. And politicians in both parties voted two years ago the renew Bush-era tax cuts that have contributed to the deficit. Even under the strict spending cuts proposed by Romney, the debt would continue to rise.

http://news.yahoo.co...--election.html

Saturday, October 6, 2012

Romney's Debate Lies About Taxes

Anyone who doesn't believe Mitt Romny is a lying sack of shit is either extremely stupid or also a lying sack of shit. Mitt Romney lies about everything and I mean everything.  Mitt Romney is a skilled liar.  

Romney told 27 lies in the first debate. Here are a few.


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“I don’t have a $5 trillion tax cut. I don’t have a tax cut of a scale that you’re talking about.”

 A Tax Policy Center analysis of Romney’s proposal for a 20 percent across-the-board tax cut in all federal income tax rates, eliminating the Alternative Minimum Tax, eliminating the estate tax and other tax reductions, would reduce federal revenue $480 billion in 2015. This amounts to $5 trillion over the decade.

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“My view is that we ought to provide tax relief to people in the middle class. But I’m not going to reduce the share of taxes paid by high-income people.”

If Romney hopes to provide tax relief to the middle class, then his $5 trillion tax cut would add to the deficit. There are not enough deductions in the tax code that primarily benefit rich people to make his math work.


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“My — my number-one principal is, there will be no tax cut that adds to the deficit. I want to underline that: no tax cut that adds to the deficit.”

As the Tax Policy Center concluded, Romney’s plan can’t both exempt middle class families from tax cuts and remain revenue neutral. “He’s promised all these things and he can’t do them all. In order for him to cover the cost of his tax cut without adding to the deficit, he’d have to find a way to raise taxes on middle income people or people making less than $200,000 a year,” the Center found.

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“I will not under any circumstances raise taxes on middle-income families. I will lower taxes on middle-income families. Now, you cite a study. There are six other studies that looked at the study you describe and say it’s completely wrong.”

The studies Romney cites actually further prove that Romney would, in fact, have to raise taxes on the middle class if he were to keep his promise not to lose revenue with his tax rate reduction.

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“I saw a study that came out today that said you’re going to raise taxes by $3,000 to $4,000 on middle-income families.”

Romney is pointing to this study from the American Enterprise Institute. It actually found that rather than raise taxes to pay down the debt, the Obama administration’s policies — those contained directly in his budget — would reduce the share of taxes that go toward servicing the debt by $1,289.89 per taxpayer in the $100,000 to $200,000 range.

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