Not So Fast: Obama’s Spending Plans Will Raise Middle Class Taxes According To Watchdog Group
It may have sounded good in theory, but a non-partisan watchdog group has released their findings that Obama’s pledge to not raise taxes on the middle class doesn’t hold water.
A new study by Douglas Holtz-Eakin of the American Action Forum finds that President Barack Obama’s spending plan would raise taxes on the middle class. “[T]axpayers making as little as $30,000 will carry $1,500 more in taxes annually over the next 10 years,” the study finds.
The finding flies in the face of Obama’s campaign promises to not raise taxes on those families making less than $250,000.
Researchers from the American Action Forum ran the numbers of high-income taxpayers against Obama’s secondary pledge to balance the budget by at least 2022. The promised plans fail simply because there are not enough so-called high income taxpayers to make up the difference.