|
The health care law raises Medicare taxes on earnings over $200,000 for individuals and $250,000 for married couples and imposes a tax on unearned income for richer people. It provides tax credits to help the uninsured buy coverage. ___ SOCIAL SECURITY INSINCERITY: "If Walorski's plan was in place two years ago, you could have lost nearly 40 percent of your retirement savings. Jackie Walorski. We can't afford the risk." That's a Democratic ad against a Republican candidate in Indiana, misrepresenting Republican proposals to let people invest a portion of their Social Security taxes privately. GOP candidates Sean Duffy in Wisconsin, Dan Benishek in Michigan and Andy Barr in Kentucky are similarly depicted as reckless gamblers with Social Security money. THE FACTS: The 40 percent figure bears no resemblance to Republican proposals. It is based on the percentage drop in the 2008 stock market crash. Republicans have never proposed personal savings accounts for all Social Security money. And the current House Republican leadership has not agreed to support any private investment program. The main Republican initiative comes from Rep. Paul Ryan of Wisconsin, who would give workers under 55 the option of investing a third of their Social Security taxes in personal retirement accounts managed by the Social Security Administration. The government would guarantee that nobody loses money.
___ JOBS JUMBLE: Republicans and their allies are attacking the economic stimulus not just as a waste of money
-- an arguable point -- but a killer of jobs. In Wisconsin, Democratic Rep. Steve Kagen is upbraided because he "promised us jobs, voting for the $787 billion stimulus. Cost: another 77,000 jobs lost." In Maryland, another GOP ad says, Rep. Frank Kratovil "promised the stimulus would save or create jobs but we've lost over 78,000" since he voted for it. THE FACTS: Whatever economists think of the stimulus, they do not think the infusion of money from Washington actually destroyed jobs. At worst, it did not create enough jobs and cost too much for the employment it did manage to generate. The claim in the Wisconsin ad and the implication in the Maryland one is that the stimulus is responsible for draining employment. The Republican ads simply record job losses in a particular state over a particular time and imply the blame rests squarely on stimulus measures. ___ TAX TANGLE: Democrats and their allies are eager to tie Republicans and their supporters to foreign interests, going so far as to accuse the U.S. Chamber of Commerce of using overseas money for political ads helping the GOP, without offering any evidence. The effort goes beyond that to portray Republicans as guardians of job outsourcing. In one example, a Democratic ad against Harold Johnson, Republican candidate in North Carolina, shows jeans, a sweater vest and a baseball cap and states: "This is a candidate for Congress helping make sure they're all made in China or Mexico. Harold Johnson signed a pledge that protected tax breaks for outsourcing jobs overseas." THE FACTS: The pledge, from Americans for Tax Reform, makes no promise to protect these companies. It says nothing about jobs. It's a pledge to oppose tax increases. Democrats have tried to end tax breaks used by companies that ship jobs overseas, and Republicans have opposed that. The pledge, however, simply says the candidate will oppose increases in income tax rates and oppose cutting deductions or credits unless matched dollar-for-dollar by lower rates. John Kartch, spokesman for the group, said it would be possible to end tax breaks for overseas companies while honoring the pledge, by substituting a tax reduction of equal value elsewhere in the tax code.
[Associated
Press;
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor