Romney ad has some truth on middle class tax hike by Obama - 13abc.com Toledo (OH) News, Weather and Sports

Romney ad has some truth on middle class tax hike by Obama

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We're continuing to challenge the president candidates campaign ads by putting them through the Truth Test. 

This time, we look at a Mitt Romney ad that claims President Obama will increase taxes on the middle class.
    
"Who will raise taxes on the middle class?"

The Romney ad looks at a report issued by the American Enterprise Institute that claims:

"Barack Obama and the liberals will raise taxes on the middle class $4000."

The Romney ad uses this study which looks at how much you owe on our $16-trillion dollar debt.

The study claims a family making $100- 200,000 dollars a year would pay more than $4100 a year just to pay interest on the debt accumulated since President Obama took office.

Other income levels would pay more than $2,000 a year.

The ad says Obama is "raising taxes on the middle class"...  but the president is not sending you a bill for an extra $2,000 to $4,000.

So Romney's charge *is not quite accurate*...

What is happening is we are paying an extra $2,000 to $4,000 because the debt has increased under President Obama.  And the president's own budget for the next 10-years outlines another $7-trillion in debt.

So... Higher debts means more of your tax dollars go to pay the debt and under President Obama that's $2- to $4,000 more.

Not exactly a tax hike, but those are extra tax dollars being used to finance the debt.

13abc reporter Bill Hormann talked with the researcher who wrote the report.  He says Romney's use of his study is fair and accurate.

The Obama Administration admits its new 10-year budget has trillions in higher debt but they claim they've made adjustments to keep the debt from growing even higher.

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