Taxes

Did you know that the mortgage interest deduction was a major contributor to families' distressed circumstances leading to the housing bubble? Or that George W. Bush's (really modest) tax cuts in 2001 and 2003, not the Internet bubble of the late-1990s led the nation from fiscal surplus to deficits?

The reason you don't "know" these things is that they're not true. But the Associated Press's Tom Raum thinks they are, and said so as if they are indisputable facts in an AP analysis piece (or at least I hope it was meant to be that) yesterday. In over 850 words, he also failed to note, while barely acknowleding their existence, that Republicans in the House already acquiesced to $620 billion in tax increases in return for a "whopping" $15 billion in spending cuts during the fiscal cliff deal at the end of last year. Excerpts from Raum's risible writeup follow the jump.

The Left and their media minions spent a good part of the past two years claiming the rich don't pay their "fair share" of taxes.

Not according to the Associated Press which shockingly published a piece Sunday titled "Tax Bills For Rich Families Approach 30-Year High":

Syndicated columnist George Will made a statement on the Laura Ingraham Radio Show Friday that should make people on both sides of the aisle and both ends of Pennsylvania Avenue take notice.

"I think the President has at long last so gone over the top in his rhetoric that he’s even losing the mainstream media" (video follows with transcript and commentary):

Congresswoman Maxine Waters (D-Calif.) this week made another in a series of absurd comments actually claiming that 170 million people would lose their jobs if the budget sequester was enacted.

NBC Tonight Show host Jay Leno actually began his show with Waters’ claim Friday saying that it explains "why we’re in this situation in the first place" (video follows with transcribed highlights and commentary):

Syndicated columnist Charles Krauthammer on Friday perfectly encapsulated the hysteria the White House is trying to gin up regarding budget sequestration.

Appearing on PBS's Inside Washington, Krauthammer spoke of Biblical plagues that re-appeared Friday telling host Gordon Peterson, "We have sequestered against the Lord, Gordo, and his wrath is great" (video follows with transcript and commentary):

On Saturday, Washington Post reporters Lori Montgomery and Paul Kane fretted, with the help of several leftists they quoted, that sequestration might not cause enough pain. Given that the so-called "cuts" under discussion are really "reductions in projected spending growth," that is a legitimate fear if your perspective is that government shouldn't ever shrink under any circumstances.

Rush Limbaugh was correct on Tuesday when he noted that the Post let the "sky is falling" mask slip in it report. Several paragraphs, followed by a bit of Rush's reaction, follow the jump.

I presume everyone remembers how when the New York Times published information about a classified program designed to track the movement of alleged terrorist funding through the international banking system Bush administration officials threatened to prosecute Times reporters and management over what they had done? No you don't, because although some conservatives and Republicans thought it might be a worth considering it didn't happen. You can guarantee that if it had, it would have become a TV-radio-newspaper-Internet establishment press obsession for days on end.

Tonight, Washington Post's Bob Woodward alleged that because he is sticking to his guns in insisting that sequestration was the brainchild of the Obama White House, that it was personally approved by Obama, and that bringing up tax increases now to try to resolve the current sequestration impasse is "moving the goalposts," he has been threatened by "a very senior person" in the White House. Woodward said so on CNN's Situation Room earlier today. What's even more troubling is that Woodward told two Politico reporters the same thing yesterday, and that they appear to have sat on the revelation until this evening when the CNN interview forced their hand. Relevant portions of the CNN transcript and Politico column follow the jump.

Scott Pelley chided House Speaker John Boehner on Tuesday's CBS Evening News, indicating the Republican leader was largely to blame for the imminent sequester: "You said that the President didn't have the guts to do what needed to be done on the budget. Today, you said the Senate has to get off its ass. Those don't sound like the words of a man seeking to bring people together to compromise."

Pelley had already pointed the finger at Boehner for the impasse over the federal budget back on the February 12, 2013 edition of the evening newscast, mere hours before the State of the Union:

We don't need to speculate about the feelings of Josh Lederman at the Associated Press about who has the high ground in the ongoing sequestration discussions in Washington.

What President Obama actually said about the idea of having more flexibiliity in deciding where to reduce projected spending, followed by how Lederman spun it, both follow the jump.

Ed Schultz's radio show is long overdue for a laugh track, seeing how the hilarity just keeps coming.

Fresh on the heels of his delusional claim that a tax hike isn't actually a tax hike, Schultz on his radio show yesterday insisted that sequestration due to start March 1 will gut federal spending by "damn near a third" when in fact the impact is around ... 2 percent. (audio clip after page break)

Normally, NewsBusters does not criticize editorials. However, on ocassion, one comes across one that is simply too full of myths and false statements that an exception has to be made to the rule.

On Friday, The New York Times published an editorial examining sequestration and taxes. The editorial was loaded with inaccuracies, misleading statements, and significant lacks of clarification. Below are nine corrections the editorial staff should make:

Somewhere the ghost of George Orwell groans in recognition.

Remember during last year's campaign how President Obama harped on "millionaires and billionaires" not paying what they should in taxes? For the sake of fairness, Obama insisted, tax rates signed into law by George W. Bush a decade ago should increase on the wealthy while the remaining "98 percent" of taxpayers, those earning less than $250,000 annually, should not see their taxes go up. (audio clip after page break)

You've got to hand it to the headline writers at the Associated Press, aka the Administration's Press. They sure know how to abuse their power to shape public perceptions.

The headline at Martin Crutsinger's report this morning on projected economic growth for 2013, which the wire service is treating as this morning's "Big Story," reads: "ECONOMISTS PREDICTING MODERATE GROWTH IN 2013." Many people using computers, tablets and smartphones will see that headline, conclude that the economy's not so bad, and move on without clicking through. Too bad Crutsinger's first two paragraphs directly contradict that headline.

CNBC's Maria Bartiromo made a statement Sunday about all of the fearmongering concerning the looming budget sequester that people on both sides of the aisle should pay attention to.

Appearing on NBC's Meet the Press, Bartiromo said, "I think Wall Street is seeing this as scare tactics because if the market really believed that the economy was going to be paralyzed on March 1 we would not be trading near record highs" (video follows with transcript and commentary):

You take humor anywhere you can get it these days. Matt Drudge's characterization of Washington Post WonkBlog editor Ezra Klein as a "guppy" ("WASH POST Guppy Says Legend is WRONG") in linking to the 2007-2008 Jounolist conspiracy organizer's pathetic attempt to refute Bob Woodward's indisputably correct claims that sequestration was the brainchild of Obama administation officials and that "Obama personally approved" it is a morning-maker.

Rather than take Woodward head-on, Klein gutlessly goes after three words in his Friday piece: "moving the goalposts." What Woodward wrote, followed by a portion of Klein's clunker, appear after the jump.

When the Washington Post's Bob Woodward broke ranks with the Obama-loving media to correctly point out Friday that it was indeed the White House that originally proposed sequestration back in 2011, it was going to be interesting to see how many of his colleagues would follow suit.

On Sunday, CNN's Candy Crowley appeared to do so as she pressured Transportation Secretary Ray LaHood about whether or not the administration has "ginned up" the impact of the sequester in order to pressure Congress telling him at one point, "Your post-sequester total at FAA ops and facilities and equipment is going to be about $500 million more than 2008 and the planes were running just fine" (video follows with transcript and commentary):

Another liberal media member has broken ranks and pointed the finger of blame for the looming budget sequester on Barack Obama.

After the Washington Post's Bob Woodward correctly wrote Friday that sequestration was indeed the Obama administration's idea in 2011, former Newsweek editor Evan Thomas hours later said on PBS's Inside Washington this whole standoff is "a failure of leadership by the White House...[Obama's] just playing politics" (video follows with transcript and commentary):

Senator Rand Paul (R-Ky.) had some harsh words Friday for all the fearmongering going on around the country concerning the looming sequester next week.

Appearing on Fox News's Happening Now, Paul said, "Balderdash. It’s untrue, unfair, dishonest, disingenuous. The president is making stuff up" (video follows with transcript and commentary):

Friday's lead editorial encapsulates the liberal mindset that drives the New York Times: "Why Taxes Have to Go Up." And not just on the rich -- the Times argues that the rich must pay more first in order to build "consensus" for raising taxes on the middle class as well. In Times-land, there is no such thing as a spending problem, only a failure to sufficiently raise taxes on everyone.

This goes back about ten days, and I originally missed it. Fortunately, though, an Investor's Business Daily editorial got around to mentioning Rick Perry's visit to California last week in an effort to lure businesses to the more commerce-friendly environs of Texas.

Associated Press report Juliet Williams and her story's headline writer were not amused by Perry's aggressiveness. Williams seemed to be bucking to have her picture placed next to the words "petty" and "vindictive" in the dictionary. Several paragraph from her February 11 coverage of Perry's visit to the formerly Golden State follow the jump (bolds are mine throughout this post):

Wednesday's CBS This Morning played up the supposedly gargantuan cuts in government spending that would go into the effect if the sequester goes into effect on March 1. Charlie Rose trumpeted the "massive spending cuts" set to take effect, while Gayle King underlined that the "deep automatic spending cuts" were quickly approaching. But neither anchor pointed out that $85 billion in cuts come out of a $3.5 trillion federal budget.

Correspondent Bill Plante hyped the effect of the possible "massive layoffs" on the Washington, DC region. But he only included one soundbite from a Republican/conservative, while playing three clips from President Obama and second Democrat.

It appears not everyone in America is as enthralled with Barack Obama's economic policies as his fans in the media.

When NBC Tonight Show host Jay Leno made a joke about the president not understanding economics, the studio audience cheered, applauded, and whistled (video follows with transcript and commentary):

MSNBC's Chris Matthews is starting to get completely unhinged.

On Tuesday's Hardball, he accused Republicans of using "Cold War CIA tactics to destabilize our own country" (video follows with transcript and commentary):

Last night in his State of the Union speech, President Barack Obama claimed: "Nothing I'm proposing tonight should increase our deficit by a single dime." Even considering the inclusion of "should" as a wiggle word, that's a laughable claim.

Politico's Glenn Thrush is one among what will surely turn out to be a legion of pundits and reporters who will ignore Obama's deficit promise while extolling "his new spending proposals" (while describing them as "relatively modest"). It was a speech Thrush said "could have been comfortably delivered by JFK, FDR or LBJ." Sorry, Glenn, but JFK and LBJ, hardened libs that they were, would not have countenanced such a speech in the context of four consecutive annual deficits of over $1 trillion and a national debt that's over 100 percent of the nation's annual economic output. Several paragraphs from Thrush's vain attempt to make Obama's speech some kind of seminal moment follow the jump (bolds and numbered tags are mine):

Dr. Ben Carson has received little coverage in traditional media outlets for a speech he gave last Thursday at a prayer breakfast in which he advocated a flat tax and health savings accounts to improve the American economy and the health care system, respectively. The little attention he has gotten has been negative, with the media indignant that the world renowned neurosurgeon dared to "disrespect" the president by offering policy proposals that deviated from the government-centered ones of Mr. Obama's liking.

Even so, NewsBusters publisher Brent Bozell noted on the Tuesday edition of Varney & Co., because of talk radio, and the Internet, "the toothpaste is out of the tube" and while it may take longer for more people to become aware of it, "This story will not stop growing." "This proves why the networks are becoming increasingly irrelevant," the Media Research Center founder told the Fox Business Network anchor Stuart Varney. [MP3 audio here; video of segment follows page break]