President Barack Obama has come out on the offensive regarding presumptive GOP candidate Mitt Romney’s fiscal policies, pointing out the Republican candidate’s focus on the wealthier folks in America at the expense of the middle and working classes.
Obama spoke to a crowd of supporters at a fundraiser in Connecticut today, discussing how Mitt Romney’s plan for taxation would be implemented, and what that would look like for the lion’s share of American citizens. Obama cited a recent study carried out by an independent tax research think tank, and said:
“He’d ask the middle class to pay more in taxes so that he could give another $250,000 tax cut to people making more than three million dollars a year… They have tried to sell us this trickle-down, tax-cut fairy dust before. And guess what? It does not work. It didn’t work then, it won’t work now. It’s not a plan to create jobs, it’s not a plan to reduce our deficit, and it is not a plan to move our economy forward.”
Ryan Williams, a spokesman for the Romney camp, said that the President’s words were just a smokescreen to hide his own plan to raise taxes on Americans:
“President Obama recently said the biggest regret of his first term was not telling better stories. He’s trying to make up for it now, but his stories just aren’t true. There’s only one candidate in this race who’s going to raise taxes on the American people – and that’s Barack Obama.”
“While he’s used taxpayer dollars to grow government and reward his donors, middle-class Americans have seen fewer jobs, lower incomes and less hope for the future. Mitt Romney has a plan for a stronger middle class – and, unlike President Obama, a record of accomplishment behind it.”
President Obama argued specifically that Romney would raise middle-class taxes by revoking tax breaks such as the Earned Income Credit, but the Romney campaign did not specifically refute the assertion.