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Obama rapid response to McCain "millions" ad

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from the Obama campaign....

Please see our response, below, to the latest McCain attack ad "Millions" and a fact check of the claims made in it:

"Yet again, John McCain makes another false, low-road attack while he's offering just more of the same Bush economics that have failed us for eight years. The choice is simple: Barack Obama will give a real tax cut up to $1,000 to 95% of working Americans, while John McCain will follow in Bush's footsteps, adding to the deficit with huge tax breaks for oil companies and other special interests. No matter how many false negative ads John McCain runs, Americans can't afford more of the same Bush policies that John McCain promises," said Obama campaign spokesman Hari Sevugan.


MCCAIN AD WATCH: "MILLIONS"
8/20/08

SCRIPT
FACT CHECK
ANNCR: Celebrities like to spend their millions. Barack Obama is no different. Only it's your money he wants to spend. Obama's got plans -- big plans -- for your money. Eight hundred sixty three billion in new government programs -- a 23 percent increase in the size of government.
OBAMA HAS OUTLINED HOW TO PAY FOR HIS PLANS

New York Times: Obama Has Outlined How He Would Pay For His Various New Programs. "Mr. Obama and Mrs. Clinton have acknowledged that their various new programs would be costly but have outlined how to pay for them." [New York Times, 4/27/08]

Wessel: Obama's Spending Proposals Add Up. David Wessel wrote in the Wall Street Journal, "Let's face it. Hillary Clinton is a wonk. Barack Obama is a phenomenon. As his eloquence and charisma propel his candidacy, scrutiny of the policies behind his speeches will and should intensify. One challenge is to tally up his tax cuts and spending increases to see whether they're matched by tax increases and spending cuts, as he says they are. To skip to the bottom line: Sen. Obama's probably do." [David Wessel, Wall Street Journal, 2/28/08]

Tax Policy Center: Obama's Tax Plan Adds Up. The independent Tax Policy Center found that "[a]gainst current policy, Senator Obama's proposals would raise $600 billion and Senator McCain's proposals lose a similar amount." http://www.taxpolicycenter.org/UploadedPDF/411749_update_candidates.pdf

Massive spending. That will lead to even higher budget deficits. Piling more debt on the backs of your children and grandchildren. Even Obama's hometown newspaper, The Chicago Tribune, says Obama has 'no interest in eliminating deficit spending'. They're right.
OBAMA HAS OFFERED CLEARER AND MORE SPECIFIC SPENDING CUTS

Obama: Committed To Specific, Credible Spending Cuts: "Obama's spending cuts include responsibly ending the war in Iraq, limiting payments to high income farmers, cutting subsidies for private plans in Medicare, reforming student loans, cutting earmarks to at least the level they were in 1994, ending no-bid contracting, and phasing out unnecessary and duplicative programs. He will also support pay-as-you-go budget rules and a constitutionally acceptable line-item veto to cut pork-barrel spending. Overall, Barack Obama's budget will reduce the deficit relative its current level and its realistic future trajectory. [Obama Tax Plan, Accessed 8/20/08]

Boston Globe Columnist: Obama Has Offered "Clearer" "Politically Braver" Ideas Of How To Pay For His Proposals. "[T]he Democratic candidate has offered a clearer - and politically braver - idea of how he'd pay for his tax cuts and spending increases and shore up other programs..."Obama has a very ambitious agenda, but he has identified some potential ways of paying for it," says Bixby. "Those may involve some heroic assumptions, but from what I can tell, the McCain pay-fors are all heroic assumptions." So, though Obama is a long way from being a deficit hawk, he deserves credit for giving voters a reasonable idea of how he'd operate. McCain is asking them to buy a pig in a poke." [Scot Lehigh Op-Ed, Boston Globe, 7/11/08]

IT IS MCCAIN'S BUDGET PLAN THAT WILL BREAK THE BANK

Analysts Say McCain's Plan Would Increase The Deficit More Than Obama's. "Experts say that both the McCain plan and the Obama plan would increase the deficit, and that neither man has adequately explained how his proposals would be paid for. But several analysts have said they believe that Mr. McCain's plan would increase the deficit more, because of the size of the tax cuts he is seeking." [New York Times, 6/11/08]

Boston Globe: "McCain's Budget Figures Don't Add Up." Scot Lehigh wrote, "Fiction may require a willing suspension of disbelief, but presidential campaigns shouldn't. Yet here's the fanciful proposition John McCain wants us to swallow: that he can extend the Bush tax cuts, pile other tax breaks and revenue reductions atop them - and still balance the federal budget in four years... "I don't think there is any there there," declares Bob Bixby, executive director of the nonpartisan Concord Coalition, who says that in his attempt to portray himself as both a tax cutter and a deficit hawk, the Republican candidate is using "very vague numbers."..."It's preposterous," says Jim Horney, director of federal fiscal policy for the liberal Center on Budget and Policy Priorities. As a round-number illustration of the difficulty, Horney notes that $400 billion would be more than 80 percent of the amount projected for fiscal year 2013 domestic discretionary spending." [Scot Lehigh Op-Ed, Boston Globe, 7/11/08]

McCain's Tax Cuts Will Either Explode The Federal Deficit Or Require "Unprecedented Cuts" In Federal Spending On Domestic Programs. "Sen. John McCain is proposing tax cuts that would either cause the federal deficit to explode or would require unprecedented spending cuts equal to one-third of federal spending on domestic programs. Once thought of as a deficit hawk, the near-certain Republican presidential nominee is now putting more stress on the traditional Republican orthodoxy of tax cuts." [Wall Street Journal, 4/22/08]

New York Times: McCain's Budget Will Add $150 to $250 Billion More To The Deficit Per Year Than the Obama Plan. "The Obama campaign claims it can pay for all this, and even reduce the deficit, through tax increases and spending cuts. I think a more skeptical look at its budget leaves you worried it may add something like $50 billion a year to the deficit. But applying the same arched brow to Mr. McCain's stated plans leaves you worried that he will add $200 billion or $300 billion or, depending on his voluntary tax system, even more." [New York Times, 6/18/08]

Tax Policy Center Report Said That McCain's Budget Plan Would Add $3.4 Trillion To The Deficit Over The Next Decade. When the tax policy center took into account the full cost of McCain's tax cuts, they found that his plan would add $3.4 trillion to the deficit over the next decade." [http://www.taxpolicycenter.org/UploadedPDF/411749_update_candidates.pdf]

· Ten Percent Corporate Tax Rate Cut Would Cost $100 Billion A Year. "The proposal to lower the corporate tax rate from 35% to 25% would cost about $100 billion a year." [Wall Street Journal, 4/16/08]

· Full Repeal Of The AMT Would Cost Over $150 Billion A Year. According to the Wall Street Journal, altering the Alternative Minimum Tax for middle class families at $91 billion annually. Eliminating the AMT for up-incomer earners would be an additional $60 billion per year. [Wall Street Journal, 4/16/08]

· Gas Tax Holiday Would Cost $10 Billion. An Arizona Republic editorial questions McCain's summer gas tax holiday proposal, asking "do we really want to extract $10 billion from the nation's woefully underfunded transportation infrastructure?" [Arizona Republic, Editorial, 4/16/08]

April 2008: McCain "Changed His Position" On Balancing The Budget, Said Economic Conditions Made It Unrealistic. John McCain had previously said he would balance the budget in four years, but changed his position in April saying that "economic conditions are reversed" and it would instead take eight years. [New York Times, 4/16/08]

So no wonder Obama wants to raise taxes on your income,
MCCAIN's ADS HAVE REPEATEDLY BEEN CRITICIZED FOR LYING AND CLAIMING THAT OBAMA WILL RAISE INCOME TAXES

Independent Economists At The Tax Policy Center Came To The Conclusion That Obama's Tax Plan Offers A Net Tax Cut--Which Holtz-Eakin Has Repeatedly Used To Claim Obama's Plan Is "Fiscally Irresponsible." Michael Scherer of Time wrote, "So I want to make a few things clear. First, the Obama campaign calculates that its tax plan offers a net tax revenue reduction over ten years, if the health plan is included. Second, independent economists at the Tax Policy Center come to the same conclusion. Third, Holtz-Eakin has repeatedly, and quite seriously, invoked the net-tax-cut calculations of Obama to make the argument that the Democrat has a fiscally irresponsible economic plan." [Time, 7/30/08]

Annenberg Political Fact Check: Claim That Obama "Promises More Taxes On Small Business, Seniors, Your Life Savings, Your Family" Is "Simply Not True For The Vast Majority Of Viewers Who Will See It." "The TV ad also says that Obama 'promises more taxes on small business, seniors, your life savings, your family.' This statement is simply not true for the vast majority of viewers who will see it. Obama, in fact, promises to deliver a $1,000 tax cut for families making up to $150,000 a year, and he says he would increase income tax rates, capital gains tax rates and taxes on dividends only for those with family incomes over $250,000 a year, or for single taxpayers making over $200,000." [FactCheck.org, 8/8/08]

"Overwhelmingly Most Americans Will Not See Their Income Taxes Increased" Under Obama's Tax Plan. Anne Mathias, an economist at the Stanford Group Company, "points out that 95.1% of the American people are in households that earn less than $200,000 -- so overwhelmingly most Americans will not see their income taxes increased, if Obama's math is correct." [ABC News, 7/7/08]

Politifact: McCain's Statement That Obama's Tax Plan Would Raise Taxes Is "False." Politifact reported, "So calling it a tax increase might not be considered fair. There's no disputing that taxes will rise, but the question of who's responsible for that tax increase is another matter entirely. At PolitiFact, we've concluded, as have others, that it's unfair to call Obama's plan a tax increase merely because it doesn't change existing tax law to keep rates low. We think about it this way: The reason taxes will increase is because of tax policy signed into law not by Obama, but by somebody else... the more recent data -- combined with the fact that Obama's proposal does not constitute a tax increase in the traditional sense, since some taxes would be lower under his plan than they would under current law -- persuades us to classify McCain's statement as False." [Politifact, 6/11/08]

Washington Post Fact Checker: McCain Campaign Attacks on Obama Tax Plan "Overblown," "Wrong," and "Greatly Exaggerated." "The McCain camp is attempting to persuade Americans that their taxes will increase dramatically with Barack Obama as president. The presumptive Republican nominee has repeatedly said that Obama would enact 'the largest tax increase since the Second World War.' A surrogate, former Hewlett-Packard CEO Carly Fiorina, insists that Obama has not proposed 'a single tax cut' and wants to 'raise every tax in the book.' ... The claim that Obama will 'enact' the largest tax increase since World War II is also overblown. The Bush tax cuts will expire automatically at the end of 2010, so it is hardly a question of 'enacting' a new tax increase. ... Carly Fiorina is wrong to claim that Obama has proposed no tax cuts and wants to raise 'every tax in the book.' John McCain is on more solid ground when he claims that Americans from many different backgrounds could be affected by a rise in capital gains taxes, but he has greatly exaggerated the adverse impact." [Washington Post, 6/11/08]

Washington Post: McCain's Attack On The Obama Tax Plan "Crosses The Line From Reasonable Argument To Unacceptably Misleading." "Barack Obama and John McCain have important differences on tax policy. These are fair game for campaign ads, and no one expects 30-second spots to be suffused with nuance. But Mr. McCain's latest attack on the Obama tax plan crosses the line from reasonable argument to unacceptably misleading." [Editorial, Washington Post, 8/10/08]


OBAMA'S PLAN WILL CUT TAXES FOR THE MIDDLE CLASS MORE THAN MCCAIN'S PLAN

Analysts Say That Obama's Tax Cut Plan "Offers Three Times The Break For Middle Class Families Than Proposals" Of McCain. "The tax cut plan of Democratic nominee to be Barack Obama offers three times the break for middle class families than proposals of likely Republican nominee John McCain, according to analysts working for a left-leaning think tank. Families making between $37,595 and $66,354 of annual income with Obama would get an average tax cut of $1,042 per family while McCain's tax cut for this group would be $319, the report states." [Nashua Telegraph, 6/12/08]

Under Obama's Plan The Middle Of The Middle Class Would See Taxes Cut By $1,042 A Year; McCain's Tax Plan Would Give Them Only A $319 Tax Cut. According to the non partisan Tax Policy Center's computations, "under Mr. Obama's plan, the middle of the middle class, or those earning $37,595 to $66,354, would see taxes cut by $1,042 a year. Under Mr. McCain's plan, taxes for people in that category would also fall, but by $319; the largest chunk of the benefits would go to those making $2.8 million a year or more." [New York Times, 6/13/08]

Obama Plan: $80 Billion A Year In Tax Cuts "To Middle-Class Workers, Homeowners And Retirees." "Senator Barack Obama proposed a plan on Tuesday to provide at least $80 billion a year in tax cuts to middle-class workers, homeowners and retirees, saying if he was elected president he would 'end the preferential treatment that's built into our tax code.' Mr. Obama said he would give a $500 tax credit to more than 150 million workers, create a tax credit for homeowners who do not itemize their deductions and eliminate income taxes for older taxpayers who make less than $50,000 a year." [New York Times, 9/19/07; Tax Fairness For The Middle Class]

Time: McCain's Tax Plan "Benefits Mostly Those In Higher Income Brackets While Obama's Plan Benefits Mostly Those In Lower-And Middle Income Tax Brackets." "They do, however, offer plans that differ strikingly from each other. McCain's tax plan benefits mostly those in higher income brackets, while Obama's plan benefits mostly those in lower- and middle-income tax brackets. McCain wants a tax cut for corporate profits, while Obama has proposed a whole host of tax cuts that will benefit those in the middle-income brackets." [Time, 7/24/08]

National Review: McCain "offers very little" to the middle class. The National Review editorial board recently wrote that "the McCain plan... offers very little in the way of direct benefits to Americans in the middle of the income scale." [National Review, 7/8/08]

New York Sun: "Some Conservatives Are Praising" Obama For His Tax Plan And A Senior Policy Analyst At The Heritage Foundation Said That The Middle Class Would Likely Pay Less Under Obama's Plan Than McCain's. "Senator Obama, with his lead against Senator McCain narrowing in some polls, is trying to portray himself as the real tax-cutter in the presidential race. And even some conservatives are praising him for it. A senior policy analyst at the conservative Heritage Foundation, Rea Hederman Jr., praised Mr. Obama for proposing a 20% tax rate on dividends and capital gains, lower than a 28% rate he had initially floated, though still more than the current 15% rate. 'That's a great step in the right direction,' Mr. Hederman said. 'It's a big change from what we thought the Obama tax plan would be at the beginning of the summer.' Mr. Hederman said the middle class would likely pay less under Mr. Obama's plan than Mr. McCain's but that the Democrat was excessively reliant on complicated tax breaks that would make the tax code more confusing. 'Instead of a grab bag of tax credits, lower the marginal rates,' Mr. Hederman said." [New York Sun, 8/15/08]

your electric bills,
MCCAIN HAS REPEATEDLY BEEN CRITICIZED FOR INACCURATELY SAYING THAT OBAMA WILL RAISE ELECTRIC BILLS

Washington Post: McCain's TV Ad States That Obama Has A Plan To Raise Electricity Taxes; "The Short Answer: There Isn't One. Long Answer: Both McCain And Obama Would Make Electricity Derived From Fossil Fuels More Expensive." "The few campaign watchers who aren't transfixed by the images of Britney Spears and Paris Hilton in Sen. John McCain's (R-Ariz.) new attack ad aimed at Sen. Barack Obama (D-Ill.), might be asking themselves right now, 'What's this about an Obama electricity tax?' Short answer: there isn't one. Long answer: both McCain and Obama would make electricity derived from fossil fuels more expensive, since they're both committed to setting mandatory limits on greenhouse gas emissions through a cap and trade system. In fact, they would raise energy costs by the same amount over the next 12 years, since they have identical short-term emissions goals." [Washington Post, 7/30/08]

Annenberg Political Fact Check: McCain's Ad Is "False" In Its Claims Obama Will Raise Taxes On Electricity. "McCain's new ad claims that Obama 'says he'll raise taxes on electricity.' That's false. Obama says no such thing. McCain relies on a single quote from Obama who once - and only once so far as we can find - suggested taxing 'dirty energy,' including coal and natural gas. That was in response to a reporter's suggestion that a tax on wind power could fund education. Obama isn't proposing any new tax on electricity or 'dirty energy' as part of his platform, and he never has. It's true that a coal/gas tax would raise electric rates, but so would a cap-and-trade program to restrict carbon emissions. Cap-and-trade is an idea that both McCain and Obama support, in different forms. Neither candidate characterizes cap-and-trade as a 'tax.'" [Factcheck.org, 7/30/08]

Resources For The Future Fellow Joseph E. Aldy: McCain's Allegations Don't Hold Up Since Both Obama And McCain Call For The Same Near Term Greenhouse Gas Emissions Target. "Joseph E. Aldy, a fellow at Resources for the Future, wrote in an e-mail that McCain's allegations don't hold up in light of the fact that both candidates 'call for the same near-term target of returning U.S. greenhouse gas emissions to their 1990 level by 2020. I would expect very similar impacts on energy prices with the same near-term goal. ... Both are ambitious goals that will signal the need for more innovation and deployment of low-carbon technologies. I find the two proposals to be nearly indistinguishable in terms of their ambition and economic impacts in light of the broad spectrum of positions on climate policy in Washington.'" [Washington Post, 7/30/08]

Cincinnati Enquirer: McCain's Ad, on A "Truthful" Scale From "0" to "10," Gets A "0." "HOW TRUTHFUL? 0 on a scale from 0 (misleading) to 10 (truthful)" "The McCain ad's claim that Obama says 'he'll raise taxes on electricity' is based on an interview Obama gave to a San Antonio newspaper in February in which he said 'what we ought to tax is a dirty energy like coal, and, to a lesser extent, natural gas.' According to the Obama campaign, what Obama was referring to in the interview was his proposal for a cap-and-trade mechanism that would set a limit on greenhouse gas emissions, allowing entities to buy and sell rights to emit. If that is the case, McCain is criticizing Obama for a proposal that he, too, supports." [Cincinnati Enquirer, 7/31/08]

even your life savings.
Ready to tax. Ready to spend. Not ready to lead.
That's the real Obama.

JOHN MCCAIN: I'm John McCain and I approved this message.

ANNCR: Paid for by John McCain 2008.
MCCAIN HAS REPEATEDLY BEEN CRITICIZED FOR SAYING THAT OBAMA WILL RAISE TAXES ON LIFE SAVINGS--IT IS "SIMPLY NOT TRUE FOR THE VAST MAJORITY OF VIEWERS WHO WILL SEE IT

Annenberg Political Fact Check: Claim That Obama "Promises More Taxes On Small Business, Seniors, Your Life Savings, Your Family" Is "Simply Not True For The Vast Majority Of Viewers Who Will See It." "The TV ad also says that Obama 'promises more taxes on small business, seniors, your life savings, your family.' This statement is simply not true for the vast majority of viewers who will see it. Obama, in fact, promises to deliver a $1,000 tax cut for families making up to $150,000 a year, and he says he would increase income tax rates, capital gains tax rates and taxes on dividends only for those with family incomes over $250,000 a year, or for single taxpayers making over $200,000." [FactCheck.org, 8/8/08]

Politifact: According To The Obama Plan Capital Gains And Dividends Would Remain The Same For People Making $250,000 Or Less. "The 'life savings' statement, according to the McCain campaign, applies to Obama's plan to raise taxes on dividend and capital gains. We've looked at similar claims before. Increases to dividends and capital gains taxes will affect people in upper income brackets who have investments in the stock market or mutual funds. But those taxes do not apply to tax-deferred investments like 401(k)s, individual retirement accounts (IRAs) and some tax-deferred college savings plans. Capital gains and dividends taxes would stay the same for people in lower income brackets of $250,000 or less, according to the Obama plan." [Politifact, 8/8/08]




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4 Comments

I SMELL AT RAT, NO I DON'T I SMELL KARL ROVE!
HE'S BEHIND THIS NONSENSE!
BE CAREFUL DEAR JOHN THIS GUY IS GOING TO JAIL,
SOONER OR LATER, HE IS GOING TO GO, THEY GOT
GOTTI, THEY WILL GET HIM!

Obama doesn't get it.According to IRS figures some 50 percent of Americans pay no taxes at all.The top 10 percent pay 75 percent of taxes. The tax cuts have to be fair and across the board.Obama would punish Small Business and jobs and the economy would be in ruins in the middle of a recession.
McCains tax cuts include keeping capital gains taxes on investments low thereby stimulating the stock market.

OBAMA GETS IT, YOU DON'T GET IT, MCCAIN DOESN'T
GET IT, WHEN OBAMA IS IN OFFICE YOU ARE GOING TO
REALLY GET IT!
OBAMA ISN'T GOING TO PUNISH SMALL BUSINESSES, HE
IS GOING TO MAKE THE RICH OIL COMPANIES PAY THEIR
FAIR SHARE!
HE IS ALSO GOING TO MAKE ALL THE COMPANIES THAT
OUTSOURCE JOBS PAY UP AS WELL!
THINK REALLY GOOD BEFORE YOU BLOG!

That is great, those policies of Clinton did not work. It was only after Congress changed hands did things look up. Bush kept us out of 30's type depression. This son of a kansas white women THAT NEVER MARRIED, will not help our country. You just wait till street drugs are cheap and taxes are high and then pray for Bush economics. You are a Reagen basher that now sings songs of praise to him. Like all of us did back then, you were just to much like sheep to admit it. Bush has done exactly what you would have done with 1 or 2 exceptions, 99 of 100 things just like you would have, means more than you realize. Mr. Sheep!!!!!!

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on August 20, 2008 12:03 PM.

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