Obama Lies Again
Obama held his presser on solving the debt crisis only to evade and distort the facts to his advantage. He suggested once again to raise taxes on the "rich" ($250,000 annual income). He just hates to see a small businessman be successful.
Below is a link to an article that tells the truth about each of his claims and suggestions in his speech. Though, not mentioned is one "inconvenient truth" that is rarely pointed out. The last time tax rates were lowered significantly prior to the Bush tax cuts taxpayers gave up a whole host of tax shelters and tax loopholes that allowed deductions in multiples of the actual tax shelter investment. To compare today's tax rates with those of the 50's, 60's and 70's is like comparing apples and oranges. These tax shelters and tax loopholes were everywhere when tax rates where higher. The tax rates were adjusted downward to offset the elimination of the tax shelters and loopholes. Raising tax rates today, now that the big tax shelters and loopholes have been eliminated, is the same as increasing taxes to unprecedented levels on individuals and small business.
Here is the truth about Obama's lies and other stupid arguments:
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