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Subject Absolute proof that Obongo is lying about the budget deficit!

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Original Message Obama says: "The Bush tax cuts blew a hole in the deficit."

THE FACTSINCOME TAX REVENUES AFTER 2001/2003 "BUSH TAX CUTS"
2004: $809 Billion
2005: $927 Billion
2006: $997 Billion
2007: $1.10 Trillion
2008: $1.27 Trillion

INCOME TAX REVENUES AFTER FOUR YEARS OF OBAMA
2012: $1.16 Trillion

Income tax revenues are actually 40% HIGHER today than BEFORE the tax cuts of 2001 & 2003.

Obama says: "Asking the wealthiest among us to pay a little more will close the deficit."

THE FACTS.
The current annual budget deficit is about $1.3 Trillion. (It was "only" about $400 Billion when Obama took office!)

People earning above $250,000 now pay about 50% of all inciome taxes collected ($550 billion)

Obama's "tax the rich" scheme will raise the rates for these people (mostly job creators!) from 36% - 39%.

Assuming that this does not further danage economic growth and decrease total revenues.....and assuming that spending will not increase in other areas, and assuming that the extra revenue (if there is any) will not be spent on something else, Obama's proposal would only reduce the deficit from 1.3 to about 1.25. Then what???

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