Under current policy signed into law by President Obama, the average American family will see its tax bill rise by almost $3,500 starting Jan. 1. But according to Obama, it’s Mitt Romney who wants to raise taxes on the middle class.

“To pay for huge tax breaks for millionaires like him, Romney would have to raise taxes on the middle class — $2,000 for a family with children, says a nonpartisan report,” a recent Obama television ad claims. Don’t believe it, because it isn’t true.