Little-known fact: Obama has CUT taxes

If you’re going to blame the president for your economic misery, then you ought to at least have your facts right. This morning, RealClearPolitics posted a piece from a self-described independent, Jill Dorson, who says she regrets her vote for Barack Obama.

Some of her complaints seem logical. But one of the complaints is factually inaccurate: she says her taxes have gone up. In fact, Obama pushed through a massive tax cut in the stimulus bill.

All that changed when the Obama campaign became the Obama administration. I was a small business owner during 2008 election and my business ultimately failed under the weight of a horrendous economy. I am not ashamed. I worked hard. But I believed that Obama would try to level the playing field between big business and small, between thieves and honest business people, between greed and moderation. Instead, he bailed out the most wicked and left the rest of us fail.

I watched with horror as Obama followed Bush’s lead in bailing out banks, auto makers, insurance companies, all of those companies deemed “too big to fail.” What does that mean? My small company got thrown under the bus and my savings were ravaged – perhaps Wall Street is using them for bonuses this year.

Not to mention President Obama is recklessly spending our country’s future into oblivion.

It was clear after just 90 days what a mistake I’d made. My taxes have gone up and my quality of life has gone down. Hope has given way to disgust and I see now that change is simply a euphemism for “big government.”

Here’s the thing: The stimulus package, for which Obama is being bashed, contained the biggest one-year tax cut in U.S. history. That’s right. The biggest one-year tax cut in U.S. history was pushed through by a Democrat.
Over at Time, pundit Joe Klein vents his frustration over the popular misunderstanding of the stimulus bill.
Maybe Ms. Dorson’s state or local taxes have gone up. But her federal taxes have not.

67 comments Add your comment

Favre Beans

January 25th, 2010
3:40 pm

1st! Religion is a crutch for the weak…

Ridegerunner

January 25th, 2010
3:42 pm

That’s funny. The federal taxes withheld on my retirement check just went up !

Huckabee The Next POTUS-2013

January 25th, 2010
3:53 pm

Yes Cindy, that is so much more important to write about this afternoon than the fact barry saw to it that a $25M. no-bid contract was awarded to one of his biggest donors. In keeping in line with the rest of the lies he’s told, I guess doing away with the awarding of these types of contracts didn’t end with the evil Bush Presidency did it? I believe his words were something like ” When elected I will see to it that Halliburton no-bid deals are a thing of the past”, not exact but close enough. He is such a liar. Sadly, barry is just a little boy sitting at a big mans desk, keeping it warm for a real leader to take over on Jan. 20, 2013.

Huckabee The Next POTUS-2013

January 25th, 2010
3:57 pm

re: Farvebeans- ….and the lack of religion is the reason why so many of the scientific types will be left behind.

jconservative

January 25th, 2010
3:59 pm

True Obama did cut taxes. And he is probably going to do it again in 2010. He is doing exactly what Reagan did on taxes – cut taxes. But he is also doing exactly what Reagan did on spending – increase spending. The last thing this country needs is four more years of cutting taxes and increasing spending. We have had 29 years of it and looks like we will get 3 more years of it.

Chris

January 25th, 2010
4:01 pm

Yeas Ms. Tucker, Obama did have a $400 tax cut for me…Which amounted to $15 a paycheck. I will soon be taxed on various aspects of healthcare, and a myriad of other taxes to come, Carbon Tax, Bank taxes..You know any taxes charged to the bank simply are made up in higher interest, fees etc, the bank charge its customers. All to a tune FAR higher than the $15 more in my paycheck he decided I could keep. So for you to see he has cut taxes rings very hollow to me,. The net effect is I am nuch further behind with Obama’s administration.

Mel

January 25th, 2010
4:13 pm

How Chris? There is no net effect, the banks have not been taxed.

First Sergeant

January 25th, 2010
4:23 pm

Chris, we are waiting. Just how have the President’s tax cuts put you further behind?

Mel

January 25th, 2010
4:26 pm

Well Chris why don’t you just consider yourself lucky for now. Obama has given the American people a massive tax break. And as Reagan gave tax cuts, he also had to adjust and increase taxes later on, may happen again.

Road Scholar

January 25th, 2010
4:29 pm

Working hard and doing the right things are different.

So What, Who Cares?

January 25th, 2010
4:39 pm

The Republicans don’t recognize President Obama’s tax cuts as such because they were directed at all working Americans. Republicans only recognize tax cuts that are “focused,” in other words, directed at them exclusively. Just as Steve Swartzman pocketed ~800 million bucks on the Blackstone IPO at a 15% Federal tax rate, republicans want to pocket ALL their profits at a zero percent tax rate, while requiring the poor and the middle class to pay for everything else via regressive taxes. I urge President Obama to lift the earnings limit for social security taxes to UNLIMITED, and include dividend and interest income for anyone making over 250K per year. The way to punish fat cat republicans is to tax them as much as possible. I believe FDR said basically the same thing.

Jess

January 25th, 2010
4:58 pm

This cut was to 95% of the working population. 5% did not get a cut. So you are wrong to assert that she got a cut unless you are privy to her private financial information. Unfortunately the 95% who got cuts were not the job producers. The job producers are small businesses and investors. Since small businesses create up to 70% of the jobs in this country, they make up the majority of the so called rich which have been demonized by the administration and the media.

Also you can’t have it both ways. Dems. point to Bush’s tax cuts as something we could not afford, but you seem to be bragging about Obama’s cuts when we are in much worse financial shape than then. I agree tax cuts are good no matter who sponsors them. Are you now saying the same?

ctucker

January 25th, 2010
5:04 pm

Jess, Two things. Well, three things, actually. First off. I never said she got a tax cut. I said her taxes were not raised. Second thing. she was probably among the 95 percent. Don’t know that for sure, but that’s likely. Third thing, the economic context matters. Cutting taxes during a deep slump to try to stimulate the economy is a good thing.

So What, Who Cares?

January 25th, 2010
5:16 pm

Dear Jess: This is not a supply side failure, this is an over indebted consumer problem. Hence broad based tax cuts are called for, not focused tax cuts for small business people. If small business does not have customers with money who will to buy their products, it does not matter what the tax rate might be, they will have no profits to tax. I have not noticed a single shortage in America in any category over the last year and a half, so we must have enough production. Eighteen months ago, there was a shortage, of crude oil, but small business could not help with that problem.

rdh

January 25th, 2010
5:22 pm

ctucker said: “Cutting taxes during a deep slump to try to stimulate the economy is a good thing.”

That is true, but much of the affect is blunted if (at the same time) you are threatening to raise taxes on small businesses in a huge way. If you give me $20 a week but tell me I can expect increased medicare payroll taxes, Social security payroll taxes, cap and trade taxes, VAT taxes, taxes on cadillac health plans, wall street taxes, tax drivers on their mileage, restore the estate tax, increase capital gains and dividend taxes, raise top tax rates.

I would rather have a job than a tax cut. To that end, I would rather forego all of those new taxes (Save raising the SS/Medicare limits) and new programs to focus on instilling confidence in our economy (as experienced by the job producing and HIRING class…. not the working class) in order to create jobs. Give a man $20 a week, and he has 4 gallons of gas and a pack of cigarettes. Give an unemployed man a job, and he becomes a consumer and a taxpayer.

Jess

January 25th, 2010
5:29 pm

Cynthia,

I am pleased to hear you say that tax cuts are a good way to stimulate the economy. Now if we could just apply that logic to the folks who create jobs, we’ be on to something.

So what, Who cares….I agree with your over indebted consumer statement, but the problem that needs to be highlighted is it’s the wrong time to raise taxes on small businesses. So far they are guaranteed an increase at the end of this year when the Bush cuts expire and they are the primary targets for increased taxes to pay for health care reform. These two costs plus the increase in minimum wage, not to mention mandated health care coverage will raise the cost of doing business way beyond what many can handle.

TnGelding

January 25th, 2010
5:32 pm

Giving Obama credit for the tax cut is disingenuous. Businesses didn’t need tax cuts, they needed customers. The woman complaining surely knew her own tax liabilities. We, shamefully, aren’t paying anything because of the pandering by our clueless Congress. Freeze spending and let the Bush changes expire this year, except for the estate tax. Leaving it with the heirs will produce revenue for all eternity instead of a one time windfall.

Carter is a Fool

January 25th, 2010
5:54 pm

Cutting taxes during a deep slump to try to stimulate the economy is a good thing. — Then why oh why are we looking to a massive tax increase on the health care plans for middle class. Why oh why are we looking at a massive tax increase in cap and trade on the phony science of Global Warming. Your statement does not logically fit with your positions on these budget busting tax increases.

Obama cutting taxes? HA, HA, HA, HA.

Fire Pelosi as Speaker in 2010. Fire Harry Reid in 2010. For goodness sake – Fire Barney Frank, the architect of this mortgage mess.

not a CT fan

January 25th, 2010
5:56 pm

I’m not sure specifically what tax cut is being referred to here, but if it’s the tax cut, that I got early in 2009 (as an employee, not a business owner)—I’ve been told to save the money, because I will have to pay it back on April 15. In other words, my weekly withholding was reduced, but not my annual tax liability. We’ll see.

bjork falavel

January 25th, 2010
6:01 pm

muhammed and jesus are step-brothers…

Chris Broe

January 25th, 2010
6:18 pm

Wait a minute. If Obama has cut taxes then that would mean that Glenn Beck is a pathological liar, (and a skunkboy).

There must be some mistake. Our refounding father, Glenn Beck cannot tell a lie, (or obfuscate the facts with biased spin). No, I refuse to believe Cynthia’s obvious poison-pen hit-piece about our refounding father, Glenn Beck.

So What, Who Cares?

January 25th, 2010
6:22 pm

I think health care reform is history, so that cost increase can be ignored as it is not going to happen. I am in favor of extending the so called Bush tax cuts for another three years, but we should start calling them the Obama tax cuts. Extending Medicaid benefits to people making up to 4X the poverty level would relieve small business of the burden of paying health insurance premiums for much of their work force. The people covered under this expanded Medicaid would pay the State’s ~30% cost share, and the Feds would pay the rest. Remember, Medicaid is the most cost effective health program we have, especially if we separate the health part from the LTC part. The State would still have incentive to keep costs down, because the State would still have to pay the 30% cost share for the part of the population now covered by traditional Medicaid. The Docs and Hospitals would be required, under the right to practicing Medicine in the state rule, to accept at least 10% of their patient load from the Medicaid rolls. Plus they would be protected from malpractice suits for any Medicaid patients they treated. The minimum wage increase should help the consumer with more disposable income. Remember, Henry Ford went against the advice of the other auto companies when he paid his workers much more money than the other companies. His reasoning was that his workers, if they had enough money, could become his customers.

quod erat demonstrandum

January 25th, 2010
6:46 pm

Cynthia,

Yes, Obama did include tax credits and tax breaks for a selected few. For example, new home buyers.

For the working Joe, we saw a minor tax break in out payroll taxes, but we will have to make up that break next year.

This administration will let the Bush tax cuts expire, which means in 2011, the marriage penalty will be back. Tax rates will increase across the board. The $10,000 tax bracket will return taxing the low income workers.

Talk about an incentive to retire early.

I was thinking of working to 67, but with this guy in the Oval office, I might just retire next year. Thankfully, I have planned well and can do just that without giving up too much. With the plans to force 401k’s to contain Treasury notes, it does not bode well for the younger worker.

According to the Labor and Treasury Departments, draft federal regulations will be published for public comment as soon as next week which would “promote” the conversion of 401(k) and IRA accounts to annuities. Make no mistake here: Obama is after your retirement money. The “annuities” will “invest” not in the familiar packages of bond and stock mutual funds but in the Treasury debt!

That would be treasury debt as an investment – geez.

also in the article,

Now the feds want to “regulate” the inclusion of tax-deferred annuities into already tax-deferred retirement accounts of still-working Americans. As stated this week by Assistant Labor Secretary Phyllis C. Borzi and Assistant Treasury Secretary Mark Iwry, recent stock losses to retirement accounts mean that the feds must protect workers with safer “lifetime income options.”

I guess we are just too stupid to plan ahead. Only Obama can save us now.

Yes, I did see a small tax break, but I am holding on, waiting for the next shoe to drop.

pj

January 25th, 2010
7:22 pm

This was not a tax cut. It is a play on words. What Obama did was reduce your withholding so that you get extra money in your paycheck. He did not reduce your tax rate. Everyone will be paying it back this year. What a scam.

Perry Combover

January 25th, 2010
8:26 pm

Thank you, thank you for todays column from Garrison Keelor. I was beginning to view the AJC as an advertising leaflet for the Neal Boortz show. The presence of Keelor on your pages is like a ray of sunshine during a cloudy year. He hits the nail squarely with his comments and you have renewed my faith in the existence of unbiased journalism.

Caveman

January 25th, 2010
8:38 pm

Why whine about Bush’s tax cuts expiring? Why would Obama want to go against the will of the Republican party and extend the tax cuts beyond the expiration date the Republicans put into them?

Actually the Democrats are going to extend most of the ones that effect middle-class workers. Thankfully the estate tax will go back up to a decent level so that the trust fund babies can pay taxes for one time in their entitled, lazy little lives.

Mel

January 25th, 2010
8:40 pm

Quod…maybe you should retire, I think you are confused and misleading.

( Bloomberg) — The Obama administration is weighing how the government can encourage workers to turn their savings into guaranteed income streams following a collapse in retiree accounts when the stock market plunged.

The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.

Annuities generally guarantee income until the retiree’s death, and often that of a surviving spouse as well. They are designed to protect against the risk that retirees outlive their savings, a danger made clear by market losses suffered by older Americans over the last year, David Certner, legislative counsel for AARP, said in an interview.

“There’s a real desire on a lot of people’s parts to try to encourage something other than just rolling over a lump sum, to make sure this money will actually last a lifetime,” said Certner, legislative counsel for Washington-based AARP, the biggest U.S. advocacy group for retirees.

Promoting annuities may benefit companies that provide them through employers, including ING Groep NV (INGA:NA) and Prudential Financial Inc. (PRU), or sell them directly to individuals, such as American International Group Inc. (AIG), the insurer that has received $182.3 billion in government aid.

There is “a tremendous amount of interest in the White House” in retirement-security initiatives, Borzi, who heads the Labor Department’s Employee Benefits Security Administration, said in an interview.

In addition to annuities, the inquiry will cover other approaches to guaranteeing income, including longevity insurance that would provide an income stream for retirees living beyond a certain age, she said.

“There’s been a fair amount of discussion in the literature taking the view that perhaps there ought to be more lifetime income,” Iwry, a senior adviser to Treasury Secretary Timothy Geithner, said in an interview.
Lump Sums
“The question is how to encourage it, and whether the government can and should be helpful in that regard,” Iwry said.

Kevin

January 25th, 2010
9:08 pm

Sorry, Cynthia. I’m not buying it. Here’s why:

1. I didn’t buy a house (My modest home is just fine). No tax credit.
2. I didn’t refinance (I waited until I had a higher credit score before buying). No mortgage bail out.
3. I didn’t buy a car (My 7 year old Honda is just fine). No clunker credit.
4. I didn’t winterize my house (I built it well to begin with). No green credit.

In fact, after having just completed my 2009 taxes, I can profess that– with a flat income– my tax liability went up.

To summarize– I made good decisions all my life, and got the shaft on tax incentives. I’m paying more to support the bad decisions of others.

Now do you wonder why some of us aren’t that happy with this change?

MrLiberty

January 25th, 2010
9:13 pm

Grossly ignored fact – the tens of trillions of dollars that have been printed since Obama took office are called the INFLATION TAX. Everyone in america, including those making less than 200,000 per year pays it. They pay it in the currently rising prices of everything and the soon to be rising prices of everything. The token amount he has cut on our taxes is nothing compared to the increase in spending (record debts that make Bush look like a tightwad – though he too was a thief) will be paid for one way or the other.

Saying that the bottom line is that Obama has cut taxes just shows how economically ignorant you are – but anyone who reads you regularly knows that already.

DJ

January 25th, 2010
9:34 pm

What tax cut? Cynthia wants to spout the largest tax cut, but provide no details. Oh never mind, libs don’t have to provide facts to support their assertion.

Furthermore, next year, our taxes will be raised, oh I mean, (quoting Speaker Pelosi) taxes will return to previous levels as the Democrats will have no intention of making the Bush cuts permanent for anyone.

Sunshine and Thunder

January 25th, 2010
10:29 pm

Cynthia:

You raved like a tasmanian devil at Bush’s tax cuts because you said they were only for the “rich”. Now you praise Obama’s tax cuts and don’t really say who they are for. Tax cuts only work to grow the economy when they benefit the producers and benefit their NEXT dollar of income. MARGINAL tax cuts in other words. Do you understand? You incent producers to hire and expand by leaving more of THEIR MONEY in THEIR pockets so they can grow their businesses. That is what Bush did and I see no evidence of Obama doing that. In fact he is doing the opposite by threatening higher taxes and huge increases in health insurance premiums. So businesses have no idea what to do.

And in the ensuing years after the Bush tax cuts the growing economy increased revenue to the Treasury and added about 8 million new jobs. Ask Google.

Dawg '88

January 25th, 2010
11:27 pm

Cuts taxes? LOL!
But no matter what positive things he may do…he still favors killing unborn babies through abortion…He is the the face of the Culture of Death..The Abortion President! Planned Parenthood has him in their pocket and feeds him loads of money to play President. What does Planned Parenthood provide…abortions. Until he ocnverts, he is just a tool of the Evil One. God help him on judgment day if he doesn’t change his beliefs The abortion lobby has full control of his decisions….why not they funded his election. Then the other day he gets angry at the Supreme Court decision on lobbyists having control through outrageous donations. He is a sell out! Until America sees what an abortion truly is…a blind eye will be turned.

B. Obama
The Abortion President!

Support abortion? Go to obamamustsee.com and it will change you and your mind forever.

stew

January 25th, 2010
11:29 pm

You are defending Obama because: First he is black and second because he is far left. Most of metro and suburban Atlanta leans to the right and if the AJC was fair and ballanced than the paper would have a larger readership. Most people I know have cancelled their papers because of you, your fellow librals at the AJC because it represents only a small miniority of Atlanta and it’s suburbs. Including me.

dawgjammin

January 25th, 2010
11:45 pm

pj is right…i did the quick math on my 1040ez form….got a 6% raise from ‘08-’09. I got a refund of $1000 on my federal ‘08 taxes. The quick math says I owe close to $800 federal for ‘09. Its a 12% swing in the government’s favor. I make no where near the $250k oh wait was it $125k per year that “wouldn’t be effected by Obama’s tax plan”…

dumber than a rock

January 25th, 2010
11:57 pm

If Jill Dorson smokes, she sure saw her taxes go up!

Whether or not her taxes did go up, at least she is smart enough to realize she made a mistake with her vote. I’m hearing the same thing a lot these days.

Greg Girtman

January 26th, 2010
12:32 am

I have to disagree with you Cynthia. What Obama did was not a “tax cut” it was a reduction in withholdings. The rate of taxes we owe at the end of the year is the same. This is not a tax cut, just a rate of deduction change. So when everyone starts to get their returns later this year tehy will realize they are not getting any more back, but actually less back. SO think twice before calling what Obama did a “tax cut”

Greg G.

Jethro

January 26th, 2010
12:45 am

Respectfully, Ms. Tucker, I think that what was overlooked was that there were no bailouts for small business. Thus far, there’s little relief in sight. Banks are lending, production is stagnant. In other words, little stimulus. It’s galling that GM, which for years has created a less-than-competitive product, gets bailed out while Mr. Smith loses business because the bank won’t give credit to make payroll on a growing and profitable business, the type of which employs more Americans than GM.

I’m not going Chicken Little. What I’m saying is that the people who elected those in office did so thinking that things would change. Instead, they get same song, second verse. To the point that there’s no more liberal or conservative, only politician and talking head.

Concerned

January 26th, 2010
12:52 am

Just did my taxes and got the lowest refund ever-I had been looking forward to tax season because they sure took a lot of tax out of each paycheck. My salary has been pretty consistent over the last ten years. Is this a sign of things to come? I’ve gotten a lot of similar feedback from other people.

The Cynical White Boy

January 26th, 2010
1:00 am

Uh, if your idol has CUT taxes, then why is my net paycheck LOWER now than it was before your idol was in power?

Oh, spare me any explanation about federal witholding tax changes made by Congress, I know, I know. Once witholding started back in the day, the whole working US population became one big ATM machine to members of Congress.

Not that I’m surprised, mind you, I never met a Democrat that didn’t relish spending other peoples’ hard earned money.

What is your idol going to do when the mid-term elections don’t match the projections made by his pundits?

Laura

January 26th, 2010
1:27 am

JoeDawg…..your point?

CrowDog

January 26th, 2010
2:15 am

Obama’s small tax cut doesn’t match his spending and there will be another tax increase at the end of the year when the so call Bush tax cuts expire. A wolf in sheeps clothing this is Obama. Lie, lie, lie, teleprompter, teleprompter, lie, lie lie.

JOHN ODD OWL

January 26th, 2010
2:24 am

SUNSHINE is a proponent of supply-side, trickle down Reaganomics. You know, give the tax cuts to the rich and hope and pray that a few pennies trickle down to the middle class and working class. Well guess what SUNSHINE, the rich invest the tax cut money in foreign countries or place it in offshore bank accounts in the caribbean or Switzerland. The results of Repuklican trickle down is borrow and spend debt and deficits as far as the eye can see and a petpetual recession. Any non-rich person who support tax cuts for the rich is a brainwashed, mentally enslaved big house.

Drew

January 26th, 2010
2:33 am

Yes, Obama gave me a $15 a week tax cut. Then I lost my job. Me and a couple million others.

Thanks, Big O!

Phantom1

January 26th, 2010
4:24 am

You are so right, Cynthia. The Obama administration has also made people feel so confident about their future, as well.

Let’s examine the facts. He doesn’t fuilfill his promises.

SouthernGal

January 26th, 2010
4:44 am

Surprise, surprise…if you are a 2 wage earner family or have a second job…the tax man will be a knocking on your door…cuz you got more than you should have! The tax cut was limited to $800 per family. But…it was taken out of both for a tax savings of $1600 per family.

Saints Fan

January 26th, 2010
4:49 am

You can spin it all you want Cynthia… Obama is the Republican Party’s secret weapon to wipe out the Democrat’s congressional majorities in the next two elections. Barack Obama is to the Republican Party as Brett Favre is to the New Orleans Saints.

We already love Obama! We don’t need no more convincing.

Get Real

January 26th, 2010
6:10 am

Yeah, I love the programs he keeps coming up with:

Cash for Clunkers- Just took money out of my tax payments to help buy the guy down the street a new car which he can’t afford just like a lot of others that traded in their old cars. Now someone just starting out or in high school and wanted to buy their first car doesn’t have all the old used cars sitting around that they could have afforded. What a Moron!

First time homebuyers- Just took money out of my tax payments to help someone buy a house. I had to save up money to buy my house and make the payments. How many of these have already hit foreclosure?

I am counting the days till this moron’s 3 more years are up! I just hope we can survive the stupidity!

Woodrow

January 26th, 2010
6:13 am

While I appreciate a tax cut as much as anybody (although, in my income bracket, I didn’t get one), my real beef is with the proposed taxes coming down the pipe. Why is it that we have to support the bottom income brackets at the point of a gun? If I want to help, I can. If I don’t want to help, Big Brother forces it from me. If I withhold the cash from Big Brother I go to jail. If I resist that, I get shot. Seems awfully repressive. My job is to make money, to do that I need employees who are willing to work. What I don’t need is to be weighed down by some crazy overburden of taxes to support those who are too lazy to get off their butts and either get a job or get some useful skills.

Don

January 26th, 2010
7:05 am

The federal taxes on my retirement check just went up too. What tax cut?

Turd Ferguson

January 26th, 2010
7:17 am

“I am not ashamed. I worked hard. But I believed that Obama would try to level the playing field between big business and small, between thieves and honest business people, between greed and moderation. Instead, he bailed out the most wicked and left the rest of us fail.”

LOL…How naive!