Washington Post Fact Checker Gives Obama Tweet 3 Pinocchio’s

Let’s face it, Team Obama likes to stretch the truth, if not out right lie, in order to smear opponents. The number of un-truths, stretches, and lies that are going into Obama campaign fodder is a daily occurrence. It would take a giant post to list all the false ads. He can’t win on his record, so Team O is going negative and false. During a 30 day period ending July 2nd 76% of Obama’s ads were negative. And here comes more

(Washington Post) “FACT: In 2010 and 2011, Romney paid less than 15% in taxes on $42.5 million in income—much less than what many middle-class families pay.”

— Tweet by @BarackObama, July 3, 2012

We are avid readers of tweets by @BarackObama, though of course it is not the president himself but his campaign team that posts them. We are also very curious when politicians claim they have uttered “a fact.”

So, is it really true that the presumptive Republican presidential nominee, who is very wealthy, pays a tax rate “much less” than “many” middle-class families?

In a word, no.

First, one can see that for all the rhetoric about high taxes in the United States, most Americans pay a relatively small percentage of their income in taxes. Second, Romney had an effective rate of 13.9 percent in 2010 and 15.4 percent in 2011, which gives him a higher rate than 80 percent of taxpayers in the first method and puts him just about in the middle of all taxpayers in the second method.

And let’s not forget that under those net tax rates, Romney still pays around $3 million of his earnings to the federal treasury. So, as has become the norm with the Obama campaign

The Obama campaign’s tweet relies on a very slippery “fact.”

Romney, by receiving much of his income in capital gains and dividends and giving millions of dollars to charity, is certainly able to keep his effective tax rate relatively low, especially compared to a wealthy person who earns much of his or her income in salary. But, even so, Romney still pays an effective tax rate that is higher than the tax rate paid by most Americans.

And the Glenn Kessler, the fact checker, gives Team Obama 3 Pinocchio’s.

Crossed at Right Wing News and Stop The ACLU.

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4 Responses to “Washington Post Fact Checker Gives Obama Tweet 3 Pinocchio’s”

  1. John says:

    I always find the 15% capital gains tax misleading. As a stock holder/seller, there is often a large corporate tax that diminishes what ever gain I may see. So as a corporate investor I am paying the corporate tax and added to that a capital gains tax when I cash out.
    There is a real problem in that all corporations are not treated equally. Two easily cited examples might be Boeing (which has been paying a ridiculously low tax rate ever since WWII) and General Electric (which recently paid zero taxes on a multi-billion dollar annual profit).
    The tax problem could be easily solved if our legislators were honest. The tax code should be simplified to the point of being only a dozen of so pages long – not the tomes we see signed into law on a regular basis.
    It is always a question of fairness. Unfortunately most people think it fair if they pay nothing and let another shoulder the load.

  2. Excellent points. Even if the tax code sn’t morphed to a flat or fair tax, keeping it under, say, 50 pages would be a big boon. Simplicity. But, everyone, left and right, want a tax break for their industry/business, and Dems and Republicans are happy to comply.

  3. Lightwave says:

    I will say this for Kessler, he’s not afraid to call out Obamee on his lies.

    And at least 50% of Americans paid a guaranteed lower tax rate than Mitt Romney last year: Zero. They paid no federal income tax at all.

    The simple truth of the matter is until that changes, the deficit will continue to grow.

    Worry less about Mitt Romney’s taxes and more about why tens of millions of low-income Americans spend their entire lives taking taxpayer money and not paying taxes.

  4. Gumball_Brains says:

    woohoo.. its the “normal” John. Yet, you’re not as funny as “silly” john. “silly” john always makes me laugh my butt off… funny guy.

    yeah, capital gains taxes should be eliminated. SS taxes should be eliminated since it was taken as a tax to begin with. Begin with a fair tax and end with a flat tax. For everyone making over poverty line. no exceptions, no deductions (except for kids.. ok, will give you that one).

    Right now, we really need to be pushing for more kids as only with more kids can we have an increasing tax base… an American citizen tax base.

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