Who Will Raise Taxes?

From the Romney campaign:

A new, nonpartisan study has just examined what would be required from taxpayers just to continue making interest payments on the increased debt President Obama is responsible for and has proposed. The study concluded that the debt President Obama is responsible for and has proposed amounts to a $4,000 tax increase each year for a middle class family. Here’s how it breaks down. The cost of servicing the debt that has already accumulated under President Obama would require $1,600 in additional taxes from a middle-class family each year. The cost of the debt he’s proposed to add over the next decade would require an additional $2,500 in taxes each year.

This study isn’t just piling the burden onto the middle class either. High-income households would pay almost 25 times that amount each year. But the pain would also have to be spread to lower-income households. A family making between $20,000 and $30,000 would see their taxes increase by $770 each year. A family making between $30,000 and $40,000 would see their taxes increase by more than $1,000 each year. This tax increase far exceeds the amount the President claims to have provided in temporary tax relief, and keep in mind that this projection uses the President’s own budget, so it already assumes that all of the President’s job-destroying tax increases have become law.

One Comment

  1. No Tribe
    Posted October 4, 2012 at 1:35 pm | Permalink | Reply

    I don’t know if we will get the testy Obama or not. I hope so, it really grates on him, and I think if Romney could get it going, it would send Obama through the roof. Certainly starting to, from The Hill:

    “When I got on stage, I met this very spirited fellow who claimed to be Mitt Romney,” he said. “It couldn’t have been Mitt Romney…The man on stage last night, he does not want to be held accountable for the real Mitt Romney’s decisions.”

    He accused Romney of “dancing around” his own positions but added, “if you want to be president, you owe the American people the truth.”

    Throughout the speech, Obama reflected on Romney’s positions from the night before, lambasting Romney for his positions on taxes to his position on cutting funding for PBS.

    “Thank goodness somebody is finally getting tough on Big Bird. It’s about time,” he said. “We didn’t know Big Bird was driving the deficit. How about that?”


    “How about that?” ?

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