Grassley Charges Obama With Budget Sleight of Hand
EmailABC News’ David Chalian reports: A senior GOP member of the Senate Budget Committee, Sen. Chuck Grassley, R-Iowa, urged President Obama and his budget team to practice what they preach. "If you want honesty in budgeting and you want high marginal tax rates, why camouflage it and lead the public to believe that you only have a 39.6% marginal tax rate when in fact you have 42 or 43 [percent]," he said. Sen. Grassley was answering ABC’s Sam Donaldson’s question on ABC News Now’s "Politics Live" program when he accused the Obama administration of playing sleight of hand with some numbers. When asked about the Obama plan to bring in some revenue by reducing the amount of itemized tax deductions for high earners, Grassley said he believes that move "takes a 39.6 percent marginal tax rate and by camouflaging it by reducing deductions, maybe up to 42 or 43 percent marginal tax rate," said Grassley. "Now I would, you know, each of those are too high for the economy as far as I’m concerned," he added. The White House rolled out its budget plan this morning projecting forward for the next 10 years. You can read all the highlights HERE.
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Impeach Grassley for accusing our Dearest, Greatest, Smartest Clueless Leader lying to the Congress.
Posted by: kat | February 26, 2009, 3:58 pm 3:58 pm
Just print everybody a cool million bucks and then we will all be rich, rich I tell ya. Makes perfect sense, right? What would Ron Paul say?
Posted by: Huh | February 26, 2009, 4:02 pm 4:02 pm
Gee, I would rather have a present who is off by 3-4% then Bush and the Republican right wing who were deceiving us 100% most of the time.
Posted by: irma | February 26, 2009, 4:04 pm 4:04 pm
a present would be good, but I meant President.
Posted by: irma | February 26, 2009, 4:08 pm 4:08 pm
Mr. Grassley seems to think that tax loopholes are a Constitutional right of the wealthy.
Close the loopholes on the Madoffs in this country, Mr. Grassley, and we can afford to lower the taxes on the overburdened middle class.
The GOP has controlled the tax policies of this country since January 2001, and they used that power to declare war on the middle class. Now it’s time to repair the damage.
Posted by: John | February 26, 2009, 4:11 pm 4:11 pm
PS. Regarding the “printing of money”, the GOP did as good a job with the economy as they did with Katrina. The country is going to be in hock for a couple of years repaying the hole they have dug for us.
Posted by: John | February 26, 2009, 4:14 pm 4:14 pm
I hope there is a direct challenge from the White House, with facts, to dispute this charge. The Republicans are just mad that they can’t control who gets tax cuts. they have to realize the relief package is law now, time for rebutal is over. All Americans need to get behind it and make it work. trying to debate it now only slows down any positive results. Be American first, party second.
Posted by: Ron | February 26, 2009, 4:44 pm 4:44 pm
What the GOP doesn’t apprtove? Who would have thought that? “No we Can’t”
Posted by: Thinking | February 26, 2009, 5:23 pm 5:23 pm
From each according to his abilities, to each according to his needs, that’s the Obama Way.
Posted by: Jessica | February 26, 2009, 6:15 pm 6:15 pm
Republicans are idiots in the most classic sense: they continue to expect different results from the same behavior. The American people easily saw through their previous asinine claim that failing to extend or make pernament targeted taxes cuts for the very wealthy constituted an increase in taxes for us all. Now Grassley is idiotically trying to create a variation on that same theme with his claim the elimination of tax loopholes for the wealthy constitutes a tax increase. Lacking any new ideas to resolve today’s problems, the Republican’s incessent attempts to deceive the public with their ignorance is quickly moving from being mildly amusing to now being both annoying and insulting to voters’ intelligence.
Posted by: sps91158 | February 27, 2009, 9:50 am 9:50 am
This is the fight between the GOP and the Prez…..I will say “no” and criticize you if you don’t continue to “grease” my wealthy cronies palms. “Do he not know, I get a kickback from them” Yes, the Prez know and have known for years what was going on in Washington at the expense of the American taxpayers.
Posted by: sngeorgia | February 27, 2009, 10:48 am 10:48 am
Grassley is lying about the national debt vs. gross national product, and he’s deceitful about what reducing deductions does to the tax rate. Any high school kid can see this. Here is the analysis: http://hominidviews.com/?p=2215
Posted by: Martin | February 28, 2009, 11:47 pm 11:47 pm