Obama on Taxes: The Record

Sarah Palin did well to focus last night on Barack Obama's record as opposed to his rhetoric. Obama may say that he only wants to raise taxes on those making over $250,000 a year, while cutting them for everyone else. But how has he voted?

Let's go back to his record in the Illinois Senate. According to CBS News (hardly a conservative source), Obama did vote to give the poor tax breaks and "helped pass a 5 percent earned-income tax credit for low-income working families in 2000." That's good! But here are some other things he did:

"Obama occasionally supported higher taxes, joining other Democrats in pushing to raise more than 300 taxes and fees on businesses in 2004 to help solve a budget deficit...That's one reason Illinois business groups gave Obama a low rating, while labor groups praised him."

He "[v]oted to end $300 million worth of tax breaks for businesses."

He "[v]oted against making permanent the repeal of the state's 5 percent sales tax on gasoline."

For the CBS story, see here.

Those tax increases probably affected the middle class, since, well, there are middle class people who own businesses and pay at the gas pump. No wonder Sarah Palin was concerned about her sister Heather!

When Obama came to the U.S. Senate, his record wasn't much better. Barack Obama on the Issues indicates the following:

Obama voted "NO on repealing the Alternative Minimum Tax" (Mar 2007).

He voted "YES on $47B for military by repealing capital gains tax cut" (Feb 2006).

He voted "NO on retaining reduced taxes on capital gains & dividends" (Feb 2006).

He voted "NO on extending the tax cuts on capital gains and dividends" (Nov 2005).

The Alternative Minimum Tax hits the upper middle class. Even Hillary spoke against it in the debates. And I'm sure there are middle class people who own stocks and benefit from capital gains. Obama may say that he wants to keep the Bush tax cuts for them. But (as far as I can see) that's not how he voted.

Here's a quote from Politifact, which actually tries to defend Barack Obama from the McCain ads:

"Obama joined Democrats on what were largely party-line votes expressing the desire to roll back the Bush tax cuts in order to fund popular programs. The tax cuts would have been rescinded on people making about $42,000 and higher" (see here).

Politifact says that this was merely a non-binding resolution, not an actual tax increase. But what's it say about Obama? If a bill that raises taxes hits his desk as President of the United States, will he sign it, or veto it? My impression is that his talk about "tax cuts for the middle class" is just that: talk. He's pandering to win votes.

And I can't close this post without a quote from the Club for Growth:

"Barack Obama joined [Hillary] Clinton in opposing the extension of the Bush tax cuts;[5] in opposing the extension of decreased tax rates for capital gains and dividends;[6] and in support of the cigarette tax hike contained in the SCHIP bill.[7]" (see here).

Obama wants to keep the Bush tax cuts for the middle class? Is that how he voted? Is he so eager to hurt the rich, that he'll raise taxes on everyone who benefits from the Bush tax cuts?

I don't smoke, but can't smokers put their "cigarette tax" dollars to other uses, such as (say) stimulating the economy? Also, there are middle-class people who smoke!

Palin will do well to keep pointing this stuff out!