Sarah Palin Gets It Wrong, Even With The Palm Prompter
On Fox News Sunday, Sarah Palin repeated the Republican talking point that President Obama will give Americans the largest tax increase in history. There is a cost associated with tax cuts, as host Chris Wallace noted, and that cost should not make so-called deficit hawks happy. (h/t Think Progress)
Wallace: “the Republicans keep talking about being deficit hawks. This is $678 billion you are not going to pay for.”
Palin “no, this is going to result in the largest tax increase in U.S. history. Again, it’s idiotic.”
Pew has estimated that extending the Bush Tax cuts will cost $3.1 trillion over ten years. By not renewing cuts for the wealthiest Americans, $830 billion is being saved. Palin’s numbers don’t add up.
PALIN: My palm isn’t large enough to have written all my notes down on what this tax increase, what it will result in.… Democrats are poised to cause the largest tax increase in U.S. history, it’s a tax increase of $3.8 trillion in the next ten years and it will have an effect on every single American who pays an income tax. Small businesses, especially, will be hit hardest. Small businesses account for roughly 70 percent of our job creation in this country. So raising taxes on these employers is the worst thing that can happen.
WALLACE: Can I ask you, what do you have written on your hand?
PALIN: $3.8 trillion in the next ten years, so I have didn’t say $3.7 trillion and get dinged by the liberals saying I didn’t know what I was talking about.
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