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Romney Campaign Press Release - President Obama's Latest Stimulus Plans: Unemployment & Tax Increases

February 22, 2012

"First they told us that borrowing $1 trillion from China was supposed to stimulate the economy. Then just yesterday, one of President Obama's top advisors said that unemployment stimulates the economy. That's like saying an iceberg stimulated the Titanic. Only in White House fantasy world do debt, unemployment and higher taxes stimulate the economy." — Andrea Saul, Romney Spokesperson

The Obama Administration Has Unveiled Its Two Latest Plans To Improve The Economy—$250 Billion In Tax Hikes And More Unemployment:

Yesterday, Senior Obama Advisor Valerie Jarrett Claimed That Additional Unemployment Checks Would Stimulate The Economy. "This evening, speaking at North Carolina Central University in Durham, North Carolina, White House senior adviser Valerie Jarrett said that folks getting and spending unemployment checks is a healthy thing . . . because it stimulates the economy:" (Daniel Halper, "Valerie Jarrett: 'People Who Receive That Unemployment Check Go Out And Spend It And Help Stimulate The Economy'," The Weekly Standard's Blog, 2/21/12)

Today, The Obama Administration Unveiled A New Tax Reform Plan That Raises Taxes On American Job Creators. "The Obama administration Wednesday will unveil a framework for reforming the corporate tax code that would lower the top rate from 35 percent to 28 percent but generate more total revenue by eliminating 'dozens of tax loopholes and subsidies' and creating a minimum rate on foreign earnings. Treasury Secretary Timothy Geithner will formally unveil the tax reform blueprint at 11:30 a.m." (Ben White, "White House To Call For Cutting Corporate Tax Rate," Politico, 2/22/12)

  • "[T]he Package Would Seek To Raise $250 Billion More From Corporations Over The Next 10 Years." (Jim Puzzanghera, "Obama Wants To Cut Corporate Tax Rate To 28% As Part Of Overhaul," Los Angeles Times, 2/22/12)
  • President Obama's Plan Creates New Winners And Losers In The Tax Code. "The official said the Obama plan aims to help U.S. businesses, especially manufacturers who face strong international competition. Obama's plan would lower the effective rate for manufacturers to 25 percent while emphasizing development of clean energy systems. The administration official spoke on condition of anonymity to describe what the administration will do." (Jim Kuhnhenn, "AP Source: Obama Seeks 28 Percent Corp. Tax Rate," The Associated Press, 2/22/12)

President Obama's Newest Stimulus Plans Are Just The Latest Failed Economic Policies From His Administration:

President Obama's Trillion-Dollar Stimulus Package Was Supposed To Keep Unemployment Below 8%. (Christina Romer and Jared Bernstein, " The Job Impact Of The American Recovery And Reinvestment Plan ," 1/9/09)

  • REALITY CHECK: "The Congressional Budget Office Is Projecting Unemployment Of More Than 8% Throughout This Election Year And Into 2014." (David Jackson, "CBO Projects 8%-Plus Unemployment Into 2014," USA Today, 2/16/12)
  • REALITY CHECK: Thirty-Six Straight Months Of Unemployment Above 8%: The jobless rate has been above 8% since February 2009, a thirty-six month span unequaled in recorded history. (Bureau of Labor Statistics,, 2/16/12)

Last Fall, President Obama Proposed "One Of The Biggest Tax Increases In History." "President Obama unveiled part two of his American Jobs Act on Monday, and it turns out to be another permanent increase in taxes to pay for more spending and another temporary tax cut. No surprise there. What might surprise Americans, however, is how the President is setting up the U.S. economy for one of the biggest tax increases in history in 2013." (Editorial, "The 2013 Tax Cliff," The Wall Street Journal, 9/14/11)

Mitt Romney, Romney Campaign Press Release - President Obama's Latest Stimulus Plans: Unemployment & Tax Increases Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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