Fatal Conceit

The Fatal Conceit

Obama Ad Claims Romney Pays Lower Tax Rate than Most Americans, When he pays More than 97% of Americans

Posted by Zachary Woodman on August 7, 2012 at 3:10 AM

The Obama campaign is once again back to lying, in yet another dishonest ad they claim that Romney pays a higher tax rate than most Americans, and refers, yet again, to a fraudulent study that claims Romney would increase taxes. Here’s the ad entitled “stretch:”

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The personal attack on Romney regarding his 13.9% tax rate according to his 2010 tax return is ridiculous at best. The fact is that 97% of Americans pay a lower tax rate than Romney when tax credits are taken into account. The Tax Foundation, citing a 2009 report by the Tax Foundation, finds that the average tax rate all Americans pay is 11%; meaning that Romney is paying more than his “fair share.” To claim that Romney is paying a lower tax rate than most Americans is obviously a lie.

As for the Tax Policy Center study the ad spends the rest of the time referring to, LFN has already found that study to be absolutely false. It assumes that Romney will eliminate, even according to Obama’s campaign website, “all tax benefits” with the exception of two for those earning more than $200,000. The reality is that Romney has never endorsed such a plan; so the administration is saying Romney will implement provisions he never actually supported. Additionally, the study was written by a former Obama staffer; one of the co-authors, Adam Looney, sat on Obama’s council of economic advisers.

LFN has already reported on other lies told by the Obama campaign regarding Romney’s tax plan. Another initiative by the campaign called a “Tax Calculator” which cited the TPC study claimed that Obama would cut taxes for millionaires and billionaires by as much as over $8,000. How anyone could trust a word this campaign spews when they lie this often is beyond me.

References:

Hodge, Scott A. “Romney's Tax Returns and Effective Tax Rates of the Rich.” Tax Foundation.org. Tax Foundation: 18 January 2012. http://taxfoundation.org/blog/romneys-tax-returns-and-effective-tax-rates-rich. 6 August 2012.

 

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