"Obama's top five tax fibs in Wed. speech"

"Obama's top five tax fibs in Wednesday evening speech" By: Mark Tapscott

1. Middle class tax hikes: “The middle class will realize greater [health] security, not higher taxes.”

FACT: This would be a big departure from the House bill and the Baucus draft. The House bill has four tax increases on families making less than $250,000. President Obama himself endorsed another when he called for an individual mandate with a tax penalty. Earlier this week, he floated the idea of a “soda tax.” The Baucus draft, like the House bill, contains a new tax on over-the-counter medicines purchased with an FSA or HSA.

2. Individual mandate tax: “Under my plan, individuals will be required to carry basic health insurance.”

FACT: What the President is not saying is that the “stick” forcing individuals to do this will be a tax increase. In the House bill, the tax penalty would be 2.5 percent of income. Under the Baucus draft, the tax would range from $750 to $3,800, based on family size and income. Either way, it’s a new tax...

Read the rest: http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Obamas-top-five-tax-fibs-in-Wednesday-evening-speech-58628327.html