MITT ROMNEY’S TOP DEBATE LINES:
1. Romney said Obama is “cutting $716 billion from Medicare.” TRUE.
"The law made significant reductions to Medicare Advantage, a subset of Medicare plans ... the health care law scales back the payments... Hospitals, too, will be paid less if they have too many re-admissions... [T]he CBO looked at the years 2013 to 2022 and determined the health care law affected Medicare outlays by $716 billion." Source: PolitiFact Oct 3, 20122. Romney said there are 23 million Americans out of work. TRUE.
"[O]fficial government job data.. counts 12.8 million people as unemployed... add in unemployed people who are not counted in that total... that number rises to just over 15.3 million... also count part-time workers who wish they were working full-time. That adds just over 8.2 million. Total: about 23.6 million." Source: CNN Aug 31, 20123. Romney said there is no tax provision that gives companies a tax deduction for moving jobs overseas. TRUE.
Here is a great explanation on how there is no deduction for "moving jobs overseas" and how the deductions being described that way are really from a reduction in depreciation for selling facilities as is required under GAAP rules for accounting.
"Joint Committee on Taxation estimated that ending the deduction... would raise just $168 million over a decade.
In the federal government with an annual budget deficit of more than $1 trillion, that’s what you call a rounding error." Source: Washington Post Fact Check Oct 3, 20124. Romney said that Obamacare “puts in place an unelected board that's going to tell people ultimately what kind of treatments they can have.” TRUE.
"Just how will the IPAB work? [B]oard must propose spending cuts... cuts to providers such as doctors, device makers, and — after 2020 — hospitals... as Romney put it, “ultimately” hurt seniors, if providers respond to the cuts by skimping on care or dropping out of Medicare." Source: Washington Post Oct 3, 20125. Romney disagreed with Obama saying that Romney planned a $5 trillion tax cut over the next decade.” TRUE.
"The claim is based on a study done by the Tax Policy Center... The center estimated that altogether, the lost revenues would total $480 billion by 2015... [A]s Obama himself noted... the lost revenues [are offset] by closing loopholes and deductions." Source: PolitiFact Oct 3, 20126. Romney said incomes are down $4,300 since Obama took office. TRUE.
"[R]eal median household income in March was down $4,300 since Obama took office in January 2009." Source: Bloomberg May 1, 20127. Romney said he “…will not reduce the share (of taxes)” paid by high-income individuals.” TRUE.
"[A]s Obama himself noted... the lost revenues [are offset] by closing loopholes and deductions." Source: PolitiFact Oct 3, 20128. Romney said that Obama “...provided $90 billion in breaks to the green energy world” and that that figure amounts to 50 years’ worth of what oil and gas receives (in tax breaks).” TRUE.
"[B]ig oil companies have... subsidies that add up to a little more than $2 billion per year..." Source: US News & World Report Mar 29, 2012Here comes some of that math Clinton and Obama like so much: 90 divided by 2 = 45, rounded to the nearest tens equals 50.