Jim Hoft
GatewayPundit
7/18/2011
Don’t expect to see this make any headlines in the state-run media…
Back in April of this year Barack Obama told the press that he “refused to extend the Bush tax cuts to the wealthy again.”
But, he’s not a socialist.
Of course, it was just another lie.
Verum Serum found the actual tax cut breakdown at CNN Money:
Bush tax cuts: $544.3 billion…The bulk of that cost — $463 billion — is for the extension of cuts for families making less than $250,000, including two years of relief for 2010 and 2011 for the middle class from the Alternative Minimum Tax.
The rest — $81.5 billion — is attributable to the extension of cuts that apply to the highest income families.
In other words, 85% of the tax cuts went to the middle class.
But, Obama didn’t care. He needed a talking point.
Flopping Aces has more on the selfish rich people keeping Obama down.
Related: Peter Schiff on Fox Business : Debt Markets are Being Destabilized by Obama
