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RS

FRONT PAGE CONTRIBUTOR

You lie.

2008:

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”

2010 (bolding mine):

…since any Social Security plan would probably preserve benefits for those nearing retirement, it would not help the administration achieve its goal of reducing the deficit to 3 percent of gross domestic product, from 10 percent, within a decade.

One way to reach that 3 percent goal, by the calculations of Mr. Obama’s economic team: a 5 percent value-added tax, which would generate enough revenue to simultaneously permit the reduction in corporate tax rates Republicans favor.



More on the VAT here
. As ATR notes, the President has been trying to turn this read-my-lips into a pledge against raising income taxes. They want “President Obama to either immediately release the reported VAT calculations or deny such calculations exist,” although I don’t know why. Anything that we get from the man will just be another lie.

Moe Lane

Crossposted to Moe Lane.

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