Archive for February, 2009

Presidential Math

Thursday, February 26th, 2009

On Tuesday, before a joint session of Congress, President Obama made a “George H. W. Bush: Read My Lips, No New Taxes”-type statement when he said “if your family earns less than $250,000 a year, you will not see your taxes increased a single dime.  I repeat: not one single dime.”

Sounded pretty ambitious to me. So, a bit sleepless, I decided before dawn to do some “back of the envelope” presidential math. The President said higher taxes would be assessed on only the wealthiest 2% of Americans. According to 2007 (more…)