Fuente: © Republican National Committee (RNC)
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US ELECTIONS 08: RNC: Obama's Economic Policies are Wrong for Missouri

As Obama Travels To Missouri, How Will He Explain To Voters That He Supports Raising Taxes On Middle-Income Taxpayers And Small Businesses?

/noticias.info/ OBAMA'S HIGH TAX PLATFORM WOULD HURT MISSOURI'S ECONOMY

Obama Has Proposed A Laundry List Of Tax Hikes, But Missouri Taxpayers Already Have A Large Enough Tax Burden:

Obama Has Called For Higher Income Taxes, Social Security Taxes, Investment Taxes, And Corporate Taxes, As Well As "Massive New Domestic Spending." "Obama's transformation, if you go by his campaign so far, would mean higher income taxes, higher Social Security taxes, higher investment taxes, higher corporate taxes, massive new domestic spending, and a healthcare plan that perhaps could be the next step to a full-scale, single-payer system. Is that what most Americans want, someone who will fulfill a Democratic policy wish list?" (James Pethokoukis, "Barack Hussein Reagan? Ronald Wilson Obama?" U.S. News & World Report's "Capital Commerce" Blog, www.usnews.c om, 2/12/08)

Missouri Taxpayers Had To Work Until April 14 Of This Year To Pay Off Their Total Federal, State And Local Tax Burden For 2008. "Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2008, Missouri taxpayers had to work until April 14 (ranked 36th nationally) to pay their total tax bill..." (The Tax Foundation Website, www.taxfoundation.org, Accessed 6/8/08)



Obama Supports Nearly Doubling The Capital Gains Tax Rate, Which Would Mean A Tax Hike For Many Missouri Taxpayers:

Obama: "I Think That We Can Have A Capital Gains Rate That Is Higher Than 15 Percent." (CNBC's "Closing Bell," 3/27/08)

* Obama Plans To Raise The Tax To As High As 28 Percent. CNBC's Maria Bartiromo: "Right now, as you know, the cap gains tax is at 15%. ... He [Obama] has said, and he told me today, that he won't go above 28%. So we are talking about the possibility of a doubling in the capital gains tax." (CNBC's "Closing Bell," 3/27/08)

Obama's Capital Gains Tax Hike Would Hit The Middle Class. "In 2005, according to IRS data, 47% of all tax returns reporting capital gains were from households with incomes below $50,000, and 79% came from households with incomes below $100,000." (Editorial, "Obama Gains," The Wall Street Journal, 4/30/08)

In 2006, 527,994 Missouri Taxpayers Reported Capital Gains Income. (Internal Revenue Service Website, "Individual Income And Tax Data, By State And Size Of Adjusted Gross Income, Tax Year 2006," www.irs.gov, Accessed 6/8/08)

* 232,080 Missouri Taxpayers With Adjusted Gross Incomes Of Less Than $50,000 Reported Capital Gains. (Internal Revenue Service Website, "Individual Income And Tax Data, By State And Size Of Adjusted Gross Income, Tax Year 2006," www.irs.gov, Accessed 6/8/08)

In 2005, The Average Capital Gains And Dividend Income Reported Per Tax Return In Missouri Was $3,738. On Average, It Accounted For 7.95 Percent Of Adjusted Gross Income. ("Dividends And Capital Gains Income Compared To Other Income, 2005," The Tax Foundation, taxfoundation.org, 7/16/07)



Obama Has Called For A Tax On Coal, But Missouri Relies On Coal To Generate Most Of Its Electricity:

Obama Told A Texas Newspaper: "What We Ought To Tax Is Dirty Energy, Like Coal And, To A Lesser Extent, Natural Gas." ("Q&A With Sen. Barack Obama," San Antonio Express-News, 2/19/08)

"Coal Is The Dominant Fuel For Electricity Production In Missouri And Typically Supplies More Than Four-Fifths Of The Electricity Market." (Energy Information Administration Website, tonto.eia.doe.gov, Accessed 5/12/08)

In 2006, Missouri Used 45,603 Thousand Short Tons Of Coal To Generate Electricity. (Energy Information Administration Website, www.eia.doe.gov, Accessed 5/12/08)



Obama's Plan To Raise Taxes During An Economic Downturn Would Only Further Weaken Our Economy:

CNBC's Maria Bartiromo Asked Obama: "Why Raise Taxes At All In An Economic Slowdown? Isn't That Going To Put A Further Strain On People?" (CNBC's "Closing Bell," 3/27/08)

U.S. News & World Report's Michael Barone Said Obama's Fiscal Policy Is Akin To Herbert Hoover's - Raising Taxes And Backing Protectionist Trade Policies During An Economic Slowdown. "On fiscal policy, both Barack Obama and Hillary Clinton want higher taxes, at least on high earners. They want to let at least some of the Bush tax cuts expire in 2010, as scheduled. On trade, they oppose new free-trade agreements and want to renegotiate NAFTA with Canada and Mexico. As it happens, another president embraced such policies in a time of economic slowdown and financial market turbulence: Herbert Hoover raised taxes on high earners sharply and, ignoring a letter signed by 1,000 economists, signed the Smoot-Hawley tariff in 1930. The results were not pretty. Until now, his example has not commended itself to Democrats. One wonders whether voters will agree that tax increases will stimulate the economy." (Michael Barone, Op-Ed, "Uncle Sam Pays? Sure, Whatever," U.S. News & World Report, 4/21/08)



OBAMA IS WRONG FOR MISSOURI'S SMALL BUSINESSES

Small Businesses Are Vital To Missouri's Economy:

"Missouri Had An Estimated Total Of 508,900 Small Businesses." (Small Business Administration Office Of Advocacy, "2007 Small Business Profile: Missouri," www.sba.gov, Accessed 6/8/08)

Nearly 98 Percent Of Missouri's Employer Firms Are Small Businesses. "Employer firms totaled 138,600 in 2006, up 1.5 percent from the previous year. Of this total, an estimated 97.9 percent, or 135,700 were small." (Small Business Administration Office Of Advocacy, "2007 Small Business Profile: Missouri," www.sba.gov, Accessed 6/8/08)



Obama's Payroll Tax Hike Would Hurt Missouri's Small Businesses:

Obama Supports Lifting The Earnings Cap On Payroll Taxes. Obama: "I think that lifting the cap is probably going to be the best option." (Sen. Barack Obama, Democrat Presidential Candidates Debate, Hanover, NH, 9/26/07)

Eliminating The Payroll Earnings Cap Would Burden Small Business Owners Who Create Two Of Every Three New Jobs. "Lost in Obama's calculations is that many of the people who would be affected by eliminating the earnings cap are small-business owners who employ more than half the nonfarm private-sector work force and create two of every three new jobs in this country." (Editorial, "Caps Off For Obama," Investor's Business Daily, 9/25/07)

* Michael Tanner Of The Cato Institute: "Small Businesses Would Be Particularly Hard Hit. In Fact, About One-Third Of The Workers Affected By Raising The Cap Would Be Small Business Owners." (Michael Tanner, "Keep The Cap," The Cato Institute, www.cato.org, 6/8/05)

Missouri's Self-Employed Would Be Especially Hard Hit By Obama's Payroll Tax Hike. "The self-employed would be subject to a double whammy, since they pay both the employee and employer portion of the payroll tax." (Editorial, "Caps Off For Obama," Investor's Business Daily, 9/25/07)



Obama's Income Tax Hike Would Hurt Missouri's Small Businesses:

Obama Would Roll Back The Tax Cuts On Americans Earning Over $250,000. Obama: "[I] would roll back the Bush tax cuts for those making over $250,000." (Sen. Barack Obama, CNN Democrat Presidential Candidate Debate, Manchester, NH, 6/3/07)

At Least 55 Percent Of Small Businesses File Their Taxes As Individuals. "Small businesses and individual entrepreneurs are the driving force of rapid innovation and economic growth in this country. At least 55% of them file their taxes as individuals." (Editorial, "Caps Off For Obama," Investor's Business Daily, 9/25/07)

The Joint Economic Committee Found "A Strong Link" Between Marginal Tax Rates And Small Business Hiring And Investment Behavior. "Recent research finds a strong link between marginal tax rates and small business hiring and investment behavior." (Joint Economic Committee, "Economic Benefits Of Personal Income Tax Rate Reductions," www.house.gov, 4/01)



Obama's Health Care Plan Includes A Mandate That Amounts To A Tax On Employers, Which Would Depress Worker Wages And Force Employers To Eliminate Jobs:

Obama's Health Care Plan Calls On Employers That Don't Provide Insurance To Forfeit A Percentage Of Their Payroll. Obama For America: "Employers that do not offer meaningful coverage or make a meaningful contribution to the cost of quality health coverage for their employees will be required to contribute a percentage of payroll toward the costs of the national plan." (Obama For America Website, www.barackobama.com, Accessed 1/8/08)

* "Mandates That Require Employers To Provide Health Benefits Or Pay A Percentage Of Their Payrolls As A Tax -- A Proposal Backed By Sens. Hillary Clinton And Barack Obama -- Would Result In Lower Wages For Some Employees." (Guy Boulton, "Better Benefits Or Higher Wages?" The Milwaukee Journal Sentinel, 5/5/08)

Harvard Economist Amitabh Chandra Said The Employer Mandate Could "Force Employers To Eliminate Jobs, Raise Prices Or Move Jobs To Foreign Countries." "'The populist view is this will only come out of profits,' said [Amitabh] Chandra, the Harvard economist. But, ultimately, the money will come out of wages. 'And, worse, for some people, it can't come out of wages,' he said. Some low-wage jobs simply can't support the cost of health insurance, now estimated at more than $12,000 a year for family coverage. For this reason, Chandra said, a mandate would force employers to eliminate jobs, raise prices or move jobs to foreign countries." (Guy Boulton, "Better Benefits Or Higher Wages?" The Milwaukee Journal Sentinel, 5/5/08)

Small Businesses Would Be Hardest Hit. "The biggest impact would be on small businesses, which are less likely to offer health benefits, and industries that employ more low-wage workers." (Guy Boulton, "Better Benefits Or Higher Wages?" The Milwaukee Journal Sentinel, 5/5/08)



OBAMA IS WRONG FOR MISSOURI ON FREE TRADE

Missouri's Economy Benefits From Free Trade As Exports Have Increased 85 Percent Since 2003:

Missouri's Exports Totaled $13.4 Billion In 2007, Up 85 Percent Since 2003. "Missouri's export shipments of merchandise in 2007 totaled $13.4 billion, up 85 percent from the 2003 total of $7.2 billion, which is far larger than the 61 percent growth in total U.S. merchandise exports over the 2003-2007 period. Missouri ranks 11th among the states in terms of percentage growth in exports from 2003 to 2007." (Office Of Trade And Industry Information, International Trade Administration, U.S. Department Of Commerce, "Missouri: Exports, Jobs, And Foreign Investment," www.ita.doc.gov, 5/29/08)

Over One In Six Manufacturing Workers In Missouri Depend On Exports For Their Jobs. "Export-supported jobs linked to manufacturing account for an estimated 4.7 percent of Missouri's total private-sector employment. Over one-sixth (17.2 percent) of all manufacturing workers in Missouri depend on exports for their jobs. (2006 data are the latest available.)" (Office Of Trade And Industry Information, International Trade Administration, U.S. Department Of Commerce, "Missouri: Exports, Jobs, And Foreign Investment," www.ita.doc.gov, 5/29/08)

Missouri Exported To 193 Destinations In 2007, And Its Largest Foreign Markets Were Canada, Mexico And South Korea. "Missouri exported to 193 foreign destinations in 2007. The state's largest market in 2007, by far, was NAFTA member Canada, which received exports of $5.0 billion, or 37 percent of the 2007 total. Canada was followed by Mexico ($1.4 billion), South Korea ($1.3 billion), China ($1.0 billion), and Japan ($659 million)." (Office Of Trade And Industry Information, International Trade Administration, U.S. Department Of Commerce, "Missouri: Exports, Jobs, And Foreign Investment," www.ita.doc.gov, 5/29/08)

Obama's Isolationism Is Wrong For Missouri:

Obama Pledged To Renegotiate NAFTA With The Threat Of A "Potential Opt-Out." NBC's Tim Russert: "A simple question. Will you as president say to Canada and Mexico, this [NAFTA] has not worked for us, we are out?" Obama: "I will make sure that we renegotiate in the same way that Senator Clinton talked about, and I think actually Senator Clinton's answer on this one is right. I think we should use the hammer of a potential opt-out as leverage to ensure that we actually get labor and environmental standards that are enforced." (Sen. Barack Obama, MSNBC Democrat Presidential Debate, Cleveland, OH, 2/26/08)

Obama Opposes The South Korean Free Trade Agreement. Obama spokesperson Jen Psaki: "Senator Obama does not support the South Korea free trade agreement in its current form..." (Teddy Davis, "Clinton And Obama Follow Edwards On Trade," ABC News, abcnews.go.com, 4/23/07)

European Union Trade Commissioner Peter Mandelson Criticized Obama's Protectionist Stances. "Peter Mandelson, European Trade Commissioner, has said the protectionist stances taken by the US presidential candidates risk taking the world trading system back by decades." (Alan Beattie, "EU Trade Chief Hits At Democrat Hopefuls," Financial Times, 5/7/08)

* Mandelson: "It is irresponsible to be pretending to people you can erect new protection, new tariff barriers around your economy in this 21st century global age and still succeed in sustaining peoples' living standards and jobs. It is a mirage and they know it." (Alan Beattie, "EU Trade Chief Hits At Democrat Hopefuls," Financial Times, 5/7/08) notas_de_prensa_archivo