Obama's Broken Promise: No Tax Hikes on Those Making Less Than $250,000

WASHINGTON, April 28 /PRNewswire-USNewswire/ -- During his campaign, President
Obama promised repeatedly that he would never raise taxes on Americans making
less than $250,000 per year. A review by Americans for Tax Reform of Obama's
first 100 days in office shows he has broken this promise on at least two
occasions.

PROMISE:
"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" (September
12, 2008, Dover, NH)
[Transcript] [Video clip]

"No one making less than $250,000 under Barack Obama's plan will see one
single penny of their tax raised," Joe Biden said, "whether it's their capital
gains tax, their income tax, investment tax, any tax." (Joe Biden, Oct. 3,
2008, Vice Presidential Debate, St. Louis, MO)
[Transcript] [Video Clip]

DATES PROMISE BROKEN:
Feb. 4 -- just 16 days into his presidency, Obama signs into law a 156 percent
increase in the federal excise tax on tobacco, a hike of 61 cents per pack,
which took effect on April 1.

The tax increase falls squarely on the shoulders of the middle and low-income
Americans Obama said he would not raise taxes on: 55 percent of smokers are
"working poor", one in four smokers live below the poverty line, and on
average, smokers, whose median income is a little more than $36,000 make about
30 percent less than non-smokers.

Feb. 26 -- Obama released his FY 2010 budget which imposes a range of tax
hikes including a "cap and trade" tax of $646 billion. Every American family
will pay this tax in the form of higher gasoline, heating and electric bills.
By adding together the "cap and trade" tax increase along with other energy
tax hikes in the Obama budget and dividing by the number of families, it's
clear what this annual tax hike would be: The average American family would
pay, directly or indirectly, approximately $10,000 per year in new energy
taxes.

Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer
groups who oppose all tax increases. For more information or to arrange an
interview please contact John Kartch at (202) 785-0266 or jkartch@atr.org.

SOURCE Americans for Tax Reform

John Kartch of Americans for Tax Reform, jkartch@atr.Org, +1-202-785-0266