What Obama says: No one making under $200,000 (or $150,000 if you listen to Biden) will have a tax increase. Lie #1 What Obama doesn't tell you is that he and the Democratically controlled Congress will allow the Bush tax cuts to expire in the year 2010 which means everyone who pays taxes will have an increase in their taxes. Lie #2 What Obama doesn't tell you is that 40% of tax filers pay zero Federal Income Tax. You can't cut their Federal Income taxes because they do not pay any. They instead will receive a check courtesy of you and me. This is called W-E-L-F-A-R-E. Lie #3 Obama has promised to increase spending on various programs by one trillion dollars. What he doesn't tell you is that he cannot afford to pay for them simply by the tax increases he proposes on people making over $200,000.00 ($150,000 if you listen to Biden). So he will either have to break promises on programs or raise taxes on a whole lot more people.