The Leader Board
Jul 27 2012
Weak Economic Data Is Casting A Shadow On The Dems' Vote To Raise Taxes On Nearly A Million Businesses
In 2010, Obama Said Tax Increases 'Would Have Been A Blow To Our Economy'
PRESIDENT OBAMA: "You don't raise taxes in a recession." ("Obama: We Must 'Help Elkhart Reinvent Itself,'" MSNBC, 8/5/09; Video Here)
- OBAMA: "…tax rates for every American were poised to automatically increase on January 1st… would have been a blow to our economy just as we're climbing out of a devastating recession." (President Obama, Remarks At Bill Signing, 12/17/10)
New Data: Economy 'Weak,' 'Sluggish,' 'Stalling'
BEA: "Real gross domestic product … increased at an annual rate of 1.5 percent in the second quarter of 2012…" ("Table 8. Real Gross Domestic Product: Percent Change From Quarter One Year Ago," Bureau Of Economic Analysis, 7/27/12)
- "Economy weak in second quarter … The U.S. economy has never been so sluggish this long into a recovery." ("Economy Weak In Second Quarter, GDP Grows At 1.5% Rate," USA Today, 7/27/12)
- "The slowdown in growth adds to worries that the economy could be stalling…" ("US Economic Growth Slowed To 1.5 Pct. Rate In Q2," AP, 7/27/12)
- "The United States economy grew by a tepid 1.5 percent annual rate in the second quarter, losing the momentum it had appeared to be gaining earlier this year, the government reported Friday." ("U.S. Economy Slowed To A Tepid 1.5% Rate Of Growth," The New York Times, 7/27/12)
Dems Voted For Tax Hikes On Nearly A Million Businesses
GOVERNMENT STUDY: "The staff of the Joint Committee on Taxation estimates that in 2013 approximately 940,000 taxpayers with net positive business income … will have marginal rates of 36 or 39.6 percent under the President's proposal…" (Joint Committee On Taxation, Letter To Congressional Office, 6/18/12)
- 51 Democrats voted to hike taxes. (S.3412, Roll Call Vote #184, Bill Passed 51-48: R 0-46; D 50-1; I 1-1, 7/25/12)
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