Taxpayers’ coalition: Obama’s first 50 days ‘devastating’

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Taxpayers' coalition has called Obama's first 50 days 'devastating'Americans for Tax Reform (ATR) has set out to systematically expose the Obama administration’s failure to live up to his campaign promises on taxation.

It pointed out that although the president had promised not to raise taxes on those making less than $250,000 a year, on February 4 he signed into law a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack, to take effect April 1.

Furthermore, on February 26 the White House released its draft budget outline which raises taxes on individuals, capital gains, dividends, and foreign source profits of corporations while eliminating several energy tax credits.

In particular, the group estimated that two-thirds of small business will see a higher tax burden.

The coalition also blasted the administration for maintaining that the $787 billion stimulus package does not contain any "pork barrel" spending provisions.

Finally, the organization noted the tax problems of many of the new administration’s officials or nominees, in particular Treasury Secretary Timothy Geithner who was confirmed despite having failed to pay over $30,000 in taxes.

ATR is a non-partisan coalition of taxpayers and taxpayer groups who oppose all federal, state and local tax increases

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