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August 4, 2008

Obama's New 'Pocket' Ad Is Complete Distortion Of Facts (Mitt Romney Says Obama 'Stooped To Dishonesty)

Topics: Political News and commentaries

Here's 'The One's' latest negative attack ad against McCain (HT - Hot Air):

Once again, Team Obama has been loose with the facts and falls far from having any substance. McCain spokesman Tucker Bounds explains:

"Barack Obama's latest negative attack ad shows his celebrity is matched only by his hypocrisy, after all it was Senator Obama, not John McCain, who voted for the Bush-Cheney energy bill that was a sweetheart deal for oil companies. Also not mentioned is the $400,000 from big oil contributors that Barack Obama has already pocketed in this election."

MYTH VS. FACT ON BARACK OBAMA'S "POCKET" AD

OBAMA AD MYTH: Barack Obama's ad claims that the oil companies have given $2 million to John McCain.

FACT: No candidate takes contributions from oil companies since corporate contributions were prohibited by law more than a century ago.

· FactCheck.org: No Candidate Can "Take Money Directly From Oil Companies." "It's true that Obama doesn't take money directly from oil companies, but then, no presidential, House or Senate candidate does. They can't: Corporations have been prohibited from contributing directly to federal candidates since the Tillman Act became law in 1907." (Justin Bank and Viveca Novak, "Obama's Oil Spill," FactCheck.org, 3/31/08)

· FactCheck.org: Barack Obama "Does Accept Donations From Oil Company Employees, And He Has Two Oilmen Working As 'Bundlers' For The Campaign, Collecting Donations." "We faulted him earlier for a TV ad in which he claimed, 'I don't take money from oil companies.' In fact, he does accept donations from oil company employees, and he has two oilmen working as 'bundlers' for the campaign, collecting donations." (Brooks Jackson and Lori Robertson, "Oily Words," FactCheck.org, 4/11/08)

FACT: Barack Obama has taken nearly $400,000 from oil and gas company executives and employees, according to the Center for Responsive Politics.

· Barack Obama Has Received At Least $394,465 In Contributions From Employees Of Oil And Gas Companies. (Center for Responsive Politics Website, www.opensecrets.org, Accessed 7/31/08)

OBAMA AD MYTH: John McCain has proposed additional tax breaks for oil companies.

FACT: Barack Obama's claim that McCain favors a $4 billion tax cut for oil companies is totally misleading. John McCain has proposed cutting the tax rate on all American businesses across the board from 35 to 25 percent. Unlike Barack Obama, John McCain favors no special deal for big oil or anyone.

· PolitiFact: Obama's Statement "Barely True," As Obama Is "Cherry-Picking" On Tax Cut, As "The Corporate Tax Rate Reduction Would Apply To ALL Corporations." "Obama is cherry-picking here. The corporate tax rate reduction would apply to ALL corporations. Yes, Exxon Mobil, but also to Wal-Mart, General Motors and Home Depot, to name a few of the other Fortune 50 biggies. Even everybody's favorite, Starbucks, would get the same tax break. Obama's statement is technically true, but singling out oil companies suggests McCain has targeted oil companies for tax breaks. He hasn't. We rate Obama's statement, and the claim in the ad, Barely True." ("Big Oil, Like All Companies, Would Get Tax Break," PolitiFact.com, Accessed 8/4/08)

· John McCain Will Reduce The Federal Corporate Tax Rate To 25 Percent From 35 Percent. " A lower corporate tax rate is essential to keeping good jobs in the United States. America was once a low-tax business environment, but as our trade partners lowered their rates, America failed to keep pace. We now have the second highest corporate tax rate in the world, making America a less attractive place for companies to do business. American workers deserve the chance to make fine products here and sell them around the globe." (John McCain 2008 Official Website, "Jobs for America," http://www.johnmccain.com/Issues/JobsforAmerica/taxes.htm, Accessed 8/3/08)

· Columbus Dispatch: John McCain Has "Proposed [A] Cut In The Corporate Tax Rate For All U.S. Companies." "McCain's economic plan includes a proposed cut in the corporate tax rate for all U.S. companies, not just oil companies." (Jonathan Riskind, "Campaign Ad Watch," The Columbus Dispatch, 8/2/08)

FACT: Barack Obama said that he wants to cut corporate taxes as well, which under his logic, would mean tax cuts for oil companies as well.

· In An Interview With The Wall Street Journal, Barack Obama Said That He Was Considering Lowering Corporate Taxes. "Sen. Obama's nod to lowering corporate taxes comes as Republicans have been attacking him for proposals that would raise the cost of doing business, such as his pledge to raise the tax rate on capital gains, and his vow to increase the top income-tax rates, which are often used by small, unincorporated enterprises. He didn't say how deeply he would cut the rate, but said it could be trimmed in return for reducing corporate tax breaks, simplifying the tax system." (Bob Davis and Amy Chozick, "Obama Plans Spending Boost, Possible Cut In Business Tax," The Wall Street Journal, 6/17/08)

Continue reading: Barack Obama's 'Pocket' Ad Distortions ...

Once again, Team Obama's "foot loose and fancy free" use of truth and facts is outed, and Mitt Romney called Barack Obama a liar on CNN this morning in response to the ad (HT - Hot Air).

"When asked about the claims that John McCain was in the pocket of Big Oil, Romney scoffed at Obama's demonization of both the industry and of McCain, and pointed out that Obama takes money from the exact same source he decries in the ad."

Notably, the CNN announcer goes overboard to accuse McCain of being in the tank of big oil by accepting donations from oil company employees while clearly choosing to disregard the numbers of dollars oil employees give to Obama (quotes dollars to McCain - fails to also quote dollars to Obama).

Posted by Abdul at August 4, 2008 10:24 AM

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