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Obama Promises Tax Hikes if Reelected

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Earlier Today, President Obama Promised Tax Increases In 2013 And Beyond:

Today, President Obama Promised To Raise Taxes If He Is Reelected. OBAMA: "So, when you hear folks saying "Well, the president shouldn't want massive job killing tax increases when the economy is this weak.' Nobody's looking to raise taxes right now. We're talking about potentially 2013 and the out years." (President Barack Obama, Press Conference, 7/11/11)

President Obama's Treasury Secretary Does Not Believe Tax Increases Will Hurt The Economy:

NBC'S DAVID GREGORY: "But Tax Hikes Won't Hurt Economic Recovery?" SECRETARY TIMOTHY GEITHNER: "No." (NBC's "Meet The Press," 4/17/11)

President Obama's 2,700-Page Health Care Bill Is Projected To Raise Taxes By Over $400 Billion:

Congressional Budget Office: ObamaCare Will Raise Taxes By "About $410 Billion Over The 2012-2019 Period." "PPACA and the Reconciliation Act also included a number of provisions… to increase federal revenues (mostly by increasing the Hospital Insurance payroll tax and imposing fees on certain manufacturers and insurers); in March, CBO and JCT estimated that those provisions unrelated to insurance coverage would … increase revenues by about $410 billion over the 2012--2019 period." (CBO Director Douglas Elmendorf, Letter to House Speaker John Boehner, 1/6/11)

Reuters: ObamaCare Contains "About $438 Billion" In Tax Increases Over The Next Decade. "The U.S. healthcare overhaul that President Barack Obama is expected to sign into law contains about $438 billion in revenue increases over the next decade." ("Major Tax Provisions In U.S. Healthcare Bill," Reuters, 3/22/10)

Wall Street Journal: Up To $1 Trillion In Additional Tax Increases May Follow. "Obama wants $1 trillion in taxes on top of what he's already signed. … There are numerous other new taxes in the [health care] bill, all adding up to some $438 billion in new revenue over 10 years. But even that is understated because by 2019 the annual revenue increase is nearly $90 billion, or $900 billion in the 10 years after that. Yet Mr. Obama wants to add another $1 trillion in new taxes on top of this." (Editorial, "Taxes Upon Taxes Upon…" The Wall Street Journal, 7/11/11)

President Obama Has Already Raised Taxes Nineteen Times:

In 2009, President Obama Signed A Bill Raising Taxes On Cigarettes And Other Tobacco Products. ("President Barack Obama Says He Didn't Raise Taxes Once,", 2/7/11)

President Obama Signed Eighteen Distinct Tax Increases Included In His Health Care Bill. (Curtis Dubay, "Obamacare And New Taxes: Destroying Jobs And The Economy," The Heritage Foundation, 1/20/11)

PolitiFact: President Obama's Claim That He "Didn't Raise Taxes Once" Is False. "Obama said, "I didn't raise taxes once.' But we've documented numerous instances when he has. … So we rate his statement "False.'" ("President Barack Obama Says He Didn't Raise Taxes Once,", 2/7/11)

President Obama Supported A Cap-And-Trade Plan That Would Raise Taxes Up To $200 Billion A Year:

In 2009, The Obama Administration Pushed A Cap-And-Trade Plan That Would Cost Taxpayers "Up To $200 Billion A Year, The Equivalent Of Hiking Personal Income Taxes By About 15 Percent." "The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent. … These disclosures will probably not aid the political prospects of the Democrats' cap and trade bill." (Declan McCullagh, "Obama Admin: Cap And Trade Could Cost Families $1,761 A Year," CBS News, 9/15/09)

The Treasury Department Prepared The Cost Analysis. "A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year." (Declan McCullagh, "Obama Admin: Cap And Trade Could Cost Families $1,761 A Year," CBS News, 9/15/09)

"At The Upper End Of The Administration's Estimate, The Cost Per American Household Would Be An Extra $1,761 A Year." (Declan McCullagh, "Obama Admin: Cap And Trade Could Cost Families $1,761 A Year," CBS News, 9/15/09)

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