More importantly if he really is lying about some things, how can you trust him about ANYTHING?
Some surely wont believe that simple statement so lets explore.
What are the lies?
1. Anyone listening to Barak Obama has heard him say that 95% of Americans will receive a tax cut.
The problem is, Somewhere just north of
35% of American tax payers pay no income taxes!
Barak Obama says 95% of Americans will get a tax cut. but 35% of Americans don't pay anything at all right now. You cant cut their taxes. You can however send them a check for not paying any taxes.... and that is exactly what he will do.
Effectively that means that middle income families will write their checks to the government for their income taxes, and the IRS will simply endorse those checks and send them to other Americans in a form of welfare that isn't actually codified in the law.
Barak is lying to you about this tax cut.
Here is a link to a media matters article that explains that 37.2% of Americans pay no income tax. Media Matters is a far left organization. The article is very critical of anything approaching a conservative view. I chose this article because any conservative article would be viewed as biased. Additionally there is a link in the article to Tax Policy Center that shows who pays what.
http://mediamatters.org/items/200506100002
2.
Barak Obama says he will cut Capital Gains taxes for Small businesses.The argument is that Obama's tax plan will raise taxes on small businesses because most of them file their taxes as individuals. Thus their business income appears as high income wage earners and will therefore have their tax rate rise from 35% to 39%. But Obama has made a big deal about offsetting this by eliminating the Capital Gains taxes these small businesses pay.
Here is the dirty little secret.
Small businesses don't pay capital gains taxes. That is right. Capital Gains taxes don't apply to a small business.
Here is how Capital Gains works. You buy a property, or an asset, over time that asset gains value. You then sell it. the difference between your purchase price and the price you sell that asset is the Capital gain.
But small business don't do this. Small businesses either provide a service for which they are paid, or they take raw material and manufacture some product that they sell. In either case, their income is considered taxable income at either the personal tax rate or at some corporate tax rate.
Their only Capital Gain is the value of their business....The only way a small business earns a Capital Gain most often is to
sell the business!
Barak Obama is lying when he suggests cutting Capital Gains taxes for small businesses will either help small businesses or will help the economy. This is simply a lie.
So the question that begs to be answered is, if Barak Obama will lie to you about these very important issues, what else is he lying about???????