The Associated Press has finally discovered math, and realizes that Barack Obama’s numbers don’t add up. Don’t expect this to last long, but the AP finally reports what every sentient being outside the mainstream media and the Democratic Party (but I repeat myself) already understood:
President Barack Obama promised to fix health care and trim the federal budget deficit, all without raising taxes on anyone but the wealthiest Americans. It’s a promise he’s already broken and will likely have to break again. Obama and the Democratic-controlled Congress have already increased tobacco taxes — which disproportionately hit the poor — to pay for extending health coverage to 4 million children in working low-income families.
Now, lawmakers are looking for more revenues to help pay for providing medical insurance to millions more who lack it at a projected cost of $1 trillion over the next decade.
The floated proposals include increasing taxes on alcohol, which could raise $62 billion over the next decade, and a new tax on sugary drinks such as soda, which could raise $52 billion. …
Obama made a firm tax pledge during the presidential campaign, repeating it numerous times in the weeks and months leading up to Election Day: no tax increases for individuals making less than $200,000 a year or couples making less than $250,000.
“Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,” Obama told a crowd in Dover, N.H., last year.
Wow! Not only did the AP recognize that Obama broke his pledge not to raise taxes on people below $250,000, but they also acknowledge that Democrats like regressive taxes as much as they like progressive taxes. In fact, it would be easier to report that they just like any tax they can pass.
It gets better. AP reporter Stephen Ohlemacher notes that the cap-and-trade bill amounts to a tax on American families, although he uses the bogus $175 per year estimate from the CBO that only includes the cost of implementing and maintaining the system. It doesn’t count the cost increases of energy not just on the homes themselves, but on every step of the distribution chain for goods and services, which will create a significant jump in prices, which is also a sharply regressive burden as it will hit hardest those with less disposable income.
But little steps are better than no steps. Perhaps now that the AP has admitted that Obama lied about his economic policies, they can start reporting honestly on their costs.