The media isn’t always fair and balanced, but when it comes to reporting, accuracy is key. When word of President Obama’s tax proposal hit the news circuit Monday (July 9) several outlets misreported his views, as pointed out by New York Magazine’s website.
Outlets like the New York Times, Wall Street Journal, and CNN were among those who reported that the POTUS wanted to “extend Bush-era tax cuts” for Americans earning less than $250,000 a year. Since a large amount of citizens (also known as the middle class) bring home a salary of less than a quarter of a million, the skewed reports act as bait for Republicans hungry to attack the president.
In actuality, Obama is all-inclusive with his tax cut proposal, which is for every family’s first $250,000 of taxable income. This means that the entire country will continue to pay a lower tax rate on the taxable amount, regardless of how much they earn.
Rather than placing the blame solely on the media, New York points the finger at the POTUS for intentionally not being clear. “I’m calling on Congress to extend the tax cuts for the 98 percent of Americans who make less than $250,000 for another year,” he said during a speech earlier today. In short, his incentive may actually be to back Mitt Romney up against a wall by forcing him to defend tax cuts for the wealthy. “President Obama’s response to even more bad economic news is a massive tax increase,” said Romney’s campaign spokesperson, Andrea Saul. “It just proves again that the president doesn’t have a clue how to get American working again, and help the middle class.”
Romney’s has been the focus of criticism for not being transparent about his financial status. Worth more than $100 million, the former governor has been accused of locking in a lower tax rate by opening off-shore accounts, an issue which will likely hinder his bid for president.
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Photo: NY Daily News