USA Today uncritically reported Rep. Price's tax deduction falsehood
SUMMARY: USA Today uncritically reported Rep. Tom Price's false claim that President Obama's tax proposal would "eliminat[e] tax deductions for upper-income Americans." In fact, rather than "eliminating" itemized tax deductions, the proposal would limit to 28 percent the tax rate at which families earning more than $250,000 can take itemized deductions.
A March 2 USA Today article uncritically reported Rep. Tom Price's (R-GA) false claim that President Obama's tax proposal would "eliminat[e] tax deductions for upper-income Americans." In fact, rather than "eliminating" itemized tax deductions, the proposal would, beginning in fiscal year 2011, limit the tax rate at which families earning more than $250,000 can take itemized deductions to 28 percent.
As Media Matters for America documented, addressing the question, "Is our budget proposal uncharitable?" in a February 27 blog post, Office of Management and Budget director Peter Orszag wrote that "we are not eliminating the deduction -- just reducing it to 28 percent ... for the 5 percent of families at the very top of the income distribution":
Non-profits play a critical role in our society (indeed, I have worked at several of them in the past). But let's look at how the tax code treats two different contributors to a non-profit. If you're a teacher making $50,000 a year and decide to donate $1,000 to the Red Cross or United Way, you enjoy a tax break of $150. If you are Warren Buffet or Bill Gates and you make that same donation, you get a $350 deduction -- more than twice the break as the teacher.
This proposal walks that difference back some of the way -- it would limit the tax benefit for Buffet or Gates to $280. In other words, we are not eliminating the deduction -- just reducing it to 28 percent (or $280 on the hypothetical $1,000 contribution) for the 5 percent of families at the very top of the income distribution. That is the same tax benefit that they would have enjoyed at the end of the Reagan Administration.
From Obama's budget proposal:
Reducing Itemized Deduction Rate for Families With Incomes Over $250,000. Lowering health care costs and expanding health insurance coverage will require additional revenue. In the health reform policy discussions that have taken place over the past few years, a wide range of revenue options have been discussed -- and these options are all worthy of serious discussion as the Administration works with the Congress to enact health care reform. The Administration's Budget includes a proposal to limit the tax rate at which high-income taxpayers can take itemized deductions to 28 percent -- and the initial reserve fund would be funded in part through this provision. This provision would raise $318 billion over 10 years.
From the March 2 USA Today article:
The difficulty of reaching a bipartisan agreement on health care was evident last week, when Obama proposed setting aside $634 billion over the next decade to pay for overhauling the nation's health care system. Some Republicans, such as Rep. Tom Price, R-Ga., have criticized Obama's proposal, because he would fund it by eliminating tax deductions for upper-income Americans and reducing payments to doctors and other Medicare and Medicaid providers.
"That means that churches ... synagogues ... and community groups all across this nation will not be receiving the same kind of support from their citizens," Price said Sunday on CNN's State of the Union.
Another day, another load of gop-slop nonsense talking points dutifully transcribed by the sclm. I'm shocked.
It will become evident over the next few months who controls the Corporate Media. With notable exceptions like Kieth Olbermann and Rachel Maddow, the Cable News outlets will act as megaphones for the well-funded Repubiicant propaganda machine.
Saturday, MSNBC had some "economics professor" on who ranted about class warfare and regurgitated every GOP talking point about the proposed budget. He was some geeky looking dude with a bow tie and glasses, but he didn't sound like any economics professor I've ever heard. There was no rebuttal. It appears that the Santelli temper tantrum worked so well that it has become their propaganda model for the near future.
Obama has pi$$ed off the Landed Gentry, and they will bring their considerable resources to bear in an all-out attempt to destroy him. Every tired old Trickle-Down Social Darwinist talking point will be reported as fact, and the Democrats will have to shout to be heard over the din.
I also predict a personal assault on Obama's character. Not sure what it will be, but look for the Troglodytes to rehash some of the garbage from the campaign and maybe even make up some new stuff.
They will no doubt bring back Ken Starr to push Birth Certificategate.
It wouldn't surprise me one bit. I also predict that, if the Republitoads miraculously take back the House in 2010, their first act will be articles of impeachment.
Bite you tongue nerzog!
As we all know, the only reason the Republicans bother running for elected office is to get in to positions of power so that they can run government into the ground and then claim after they screwed it up that government doesn't work.
Sadly though... your right about one thing... if these wacky Republicans somehow manage to retake the house at any point while Obama is in the WH... I too believe that their first and only act will be to investigate Obama for every minor anything... real or imagined!
Exactly. That is how they effectively paralyzed the Clinton presidency. It worked for them once, and they'll do it again if we're stupid enough to give them a chance. It's too bad the Pelosi Congress didn't return the favor with President Numbnuts and Darth Cheney.
I agree with what you said, but I think it's sad that we look to Keith Olbermann as one of our saviors. He has some decent things to say once in awhile but he's a bit too "Hannity" (negated of course) for my likings.
You have a point, but he and Rachel are pretty much the only purely "liberal" commentators with their own shows, (unless you count the comedians like Jon Stewart or Bill Maher.)
Of course, the Republitoads accuse any neutral commentator or reporter of "liberal bias". That's how they've managed to plant the "liberal media bias" myth into the collective consciousness.
the megaphone ( Limbaugh ) was on late FOX last night trumpeting Reagan as the tax cutter and that is how Reagan got us out of the 1980's recession. I bought my first house in 1980 and i don't remember Reagan that way. I remember his governance as pouring the entire treasury into the star wars program that didn't work ( and still doesn't ) Witness the mess one satellite hitting another one creates, recently. The HUBBLE repair mission may not be feasible now.
Of course, they ignore the fact that Reagan also had to RAISE taxes after his initial tax cut. In essence, when they claim that tax cuts "work", they really don't have any definitive evidence.
I lived thru it. I don't need Limbaugh to translate this stuff for me, and reveal he is a liar.
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I guess what they’re really saying is the rich won’t be generous if they aren’t getting back more of their money. If someone who makes 250k a year won’t contribute to charity because they are getting 7% less back in rebates, they probably aren’t the type of person who really was going to donate anyways. If I was told I wasn’t going to receive a tax break for charitable donations, I would still donate what I do now. Donating to charity is a good thing to do regardless of tax implications.
Stupid MS Word!
I had the same thought.
It never seems to occur to these idiots that when they write off their charitable contributions, they are asking the government to contribute the money for them.
If you want to give to charity, give to charity- don't do it and then ask for your charitable donation to be subsidized.
And don't hold a gun to our heads and say "if you don't let me keep my big tax cut, the first thing I'll do is stop giving to charity." Charity is not supposed to be an act of extortion.
But, but... black is white, up is down, right is left, good is bad... isn't it? Doesn't limiting=eliminating?
MMFA should indicate Mr Price's party affilliation in the intro. Even the obvious could escape motive.
It should be in everyones interest that lives and breathes democracy in this country to keep the US Treasury solvent and not pillage it. the party in power for the last eight years ruled the economics with an iron first and drove the treasury down to the gutter. just witness the total GOP vote on the stymulus package recently, 100% opposition, like lemmings off a cliff.. They are responsible for the DJIA going below 7000 today. pres Obama inherited Bush's unfinished " accomplishment " despite recent posters here claiming we are all at fault. Prers Obama showed courage running for office as well as Mrs Clinton did for i know they knew what was happening to the treasury and felt it was necessary to put a stop to this drain. And being leader of this nation is a pretty good position to be in..
All you ignorant Obama voters: Admit it–he’s a huge mistake!
He punishes the achievers, those who work hard and take responsibility. At the same time, he rewards laziness and irresponsibility, promoting government dependency.
Is this the kind of country you really want?
Got any fresh talking points? Those were stale 20 years ago.
naw, he must be truck driver listening to limbaugh on his radio, all day long.
Maybe one of those Truck Drivers that makes $250,000 a year...
Our only mistake was allowing the Republitoads to retain enough seats in the Senate to filibuster everything.
are you a minah bird ? really ? We are finding out the more "public achievers are actually still robbing taxpayers money to finance their own junkets. Just step outside and smell the roses or forever be relegated to the minah bird role.
Most of the "achievers" you refer to have achieved nothing except being born to rich parents. Stuff the "Hard Work= Riches, Laziness= Poverty" crap, it doesn't fly anymore. There are plenty of people out there who make all their money on dividends or who got cushy jobs through legacies and nepotism and never do any real work at all. There are even more people who work damned hard for long hours and struggle to make ends meet. So really, kiss off with your Gilded Age crap.
Most of President ODumbo's supporters give a rat's about the economy tanking, 401's going down the toilet, banks going belly-up, or whether big evil business gets hurt - most of them are already envious "have nots" with their out-stretched hands and open mouths waiting for the Government to write them a check, feed them, change their diapers, and take care of them from cradle to grave. It's all about 'Class Envy', and the ODumbo supporters who can read should wake up to what he's doing to this country.
I remember my first beer, too...
They're cute before they start shaving.
Seems to me that most of the "envious 'have nots' with outstretched hands have been bankers and CEOs.
Talk about not paying attention. Not that you'd be capable of thinking beyond your bumper-sticker mentality if you were.
most of them are already envious "have nots" with their out-stretched hands and open mouths waiting for the Government to write them a check, feed them, change their diapers, and take care of them from cradle to grave. - bigc
Dude, where the hell have you been for the past 8 months?
Have you not witnessed, along with the rest of us, the LARGEST corporate HANDOUT in U.S. HISTORY? It's the bankers and other rich farts who've had their hands out-stretched, mouths open, waiting for a govenment hand out. They even WENT TO D.C. on their private planes to BEG for these HANDOUTS.
Just where the hell have you been? What alternative reality have you been experiencing? Those drugs you're on have got to be fun, illegal type.
"President Odumbo" Are they letting Rush teach kindergarden again. you are truly special. Please explain what Odumbo is doing.
shouldnt you be on the Mannity's site discussing how best to commit treason?
Fortunately the Bush League left us with very little achievement to punish.
In fact, if you want to take it to another level, I can say:
I was punished by the Bush Administration because, as a middle-class worker, I didn't receive any tax breaks. I was punished BECAUSE I'm a middle-class worker and not some rich thief who sits in a chair behind a huge desk in a penthouse office making money off the backs of those who sweat for a living.
If Obama is punishing acheivers then so was Ronald Reagan.
I've really had it with the Righties and their misuse of the word 'punish'.
Do you even know what 'to punish' means?
It's the result of doing something BAD. It's how reconcilliation and atonement begin (with punishment). Sorry, but if you believe that you're being punished for having to pay higher taxes because you make more money, I'd hardly say that paying taxes is punishment. In fact, it's what you pay to live in a civilized country. I've said this before, but evidently Conservatives want to go back to living in some sort of a Dickensian world where there are only two classes: the Haves and the Have-Nots.
If you look at paying taxes as punishment, you don't deserve to live in a country as wonderful as ours. Get out.
Your name is an oxymoron as evidenced by your post. You, as a middle class wage earner, did in fact receive a tax cut under President Bush. Everyone who paid taxes received one. Also, where in my previous posts did I say that I was opposed to paying taxes? Nowhere! I just don't want my taxes taken from me and given to the people too lazy to work. And why should I have to pay more of my hard earned money in taxes than you? The only reason the banks had to be bailed out is because your liberal nutjobs in the congress forced them to give loans to the unqualified. If you want to be a socialist you don't deserve to live in MY country.
Too bad the conservatives in congress didn't overturn those bad loan laws during the 12 years or so they ruled with an iron fist.
Your people had absolute power for years. Why aren't you happy? You get to sit back and bask in all that they did for us.
When exactly did liberals force banks to falsify background information on borrowers and then sell mortgages as investments on Wall Street?
Rush said that the banking problem was caused by Fannie Mae. Freddie Mac, Barney Frank, Maxine Waters and Odumbo so it must be true. There is no such thing as CDO or Deriivatives. All the wall street frims went out of business because iof Fannie mae.
And I guess it is ok to take from the poor and working class and give to the rich as Reagan and Bush did.
So it is ok for Bush to give hand outs but it is not ok for Obama to do it. Do one little piece of research and see how the stock market performed under Clinton as opposed to both Bushs and Reagan and see how the median wages were under same time frame. The real redistribution of wealth is that 1% of the country controls about 20% of the wealth over the past 25 years. Let me ask you a question. Would you rather make 300K a year and be penalized with a 3% increase in your taxes or make 60K and have a 10% tax savings. The working middle class (who have had wages go down under Bush) are the ones that have been punished for a long time.
Wow bigc. Before talking with the grown-ups be prepared with some facts. Obama is not taking anyone's taxes and giving them to people who are too lazy to find work. The only people receiving tax breaks are people who pay taxes. They may not all be income taxes but there are other taxes collected by the federal government. However, if you didn't work you will not get the break.No one forced these banks to lend to the unqualified. Most of the loans that ended up being toxic where made by smaller lenders and mortgage brokers. They were not part of the banks. These toxic assest were shifted to the banks when they repackaged and sold to the large banks as investments. Finally this is OUR country. Even people like you deserve to live here. If you have proof that the "lazy" are getting checks from the rich or the banks were forced to give no income verification loans please send a link with the facts. Until then leave the comments to the adults.
"If you want to be a socialist you don't deserve to live in MY country." - littlec
Why would any of us WANT to live in East Wingnutistand anyway?
is that you rush? mannity? beck?
Nowhere! I just don't want my taxes taken from me and given to the people too lazy to work.
And I don't want to hear about tax policy from a supporter of the party that destoryed the economy and killed off all the JOBS that were laft after the were done seding them to Mexico and China in the of (LOL) FREE TRADE. Do you have any idea how little fo your tax money is spent in the way you are descirbing? ANd how much longer do you think YOU'LL be working if the economy ins't turned around? You think your salary will keep getting paid (regardless of how hard you work) if no one can buy your co's goods/services?
I don't want to hear any more conservative nonsense on this issue. But your rights are my rights, so I guess I don't have much of a choice. Ignorance has the right to an opinon as well.
Mccain was the mistake here. "Out economy fundamentals are strong" If he had been elected, CEO's would still be anonomously ripping off the US Treasury.."
my god your right....but wait a minute....ive been in my job for two years now......and i havent seen much in a way of improving my prospects