Barack Obama actually said...

When I'm President, we'll work to see that no retiree making less than $50,000 each year has to pay income tax.

It's a simple proposition. That the wealth we earn comes from the work that we do.

The American people work longer and harder than the people of any other wealthy nation in the world.

At a time when Americans are working harder than ever, we are taxing income from work at nearly twice the levels that we're taxing gains for...