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STAMFORD, Conn. — President Barack Obama called out Mitt Romney’s plan for a $5 trillion tax cut during a fundraiser in Stamford Monday, saying such a reduction would take from the middle class to help those who make more than $3 million a year, according to a transcript released from the White House.
“It’s like Robin Hood in reverse. It’s Romney Hood,” the president said in the transcript, using what he called an independent, non-partisan organization’s study of Romney’s plan as support for his statement.
Obama told a gathering at the Stamford Marriott that taxes on the middle class would go up about $2,000 a year to help people who make over $3 million a year would receive an additional $250,000 in cuts, the transcript said.
He said he is running for a second term to secure tax cuts for working-class families so they can provide for their children. He added that in his first term he has cut taxes on the middle class by about $3,600, and wants to keep taxes where they are on the first $250,000 made.
“If your family makes under $250,000 ‒ like 98 percent of Americans do ‒ you will not see your income taxes increase by a single dime next year,” Obama said.
Click here to read the entire transcript from the event.
Comments (22)
Clearly jrey has been drinking the Fox entertainment network koolaid as not one of his posts are accurate . So So typical of the ignorant Republican puppets. 100 PERCENT LIES
DLB, you do realize your taxes have gone DOWN under Obama, right?
Yep, my income taxes ARE down but only because my income is down.
Bt overall, my taxes are UP when including state income, state sales and property taxes.
Thus the government 'take' is higher a % of my income than ever before.
What time frame are you using?
Yep, my income taxes ARE down but only because my income is down.
Bt overall, my taxes are UP when including state income, state sales and property taxes.
Thus the government 'take' is higher a % of my income than ever before.
Actually about the same, but healthcare premiums have gone up big time and the dollar has less value than 4 years ago.. but here's the worst: He raked up $6T in new debt, that amounts to $40K per person (man, woman, kid, baby). So typical tax-paying family of four has their future tax burden increased by $160K. Thanks to Obama. Give him 4 more years and we'll all be speaking Chinese in the near future.
Please explain how future tax burden is increased by $160K? I think you're either seriously misinformed, very confused, or just lying.
$6T / 300M = $20K per citizen, but remember about 50% of Americans do not pay fed income taxes. So assuming you are, and your kids will be, in the upper 50%, every member in your family will owe $20K x 2 = $40K to pay off Obama debt. so family of 4 will owe $40 x 4 = $160K. I have no children, so I'm not worried much about the debt. If you have children or grandchildren, thank them for me for paying off the debt in the future. But if you're in the lower 50%, and you think your children will also be in the lower half, you have nothing to worry. The upper 50% will always be there to support you and your family. Anymore questions?
Okay, question answered, you're confused.
Before we get into macroeconomic investment, consumption, transfer of resources, et al - one more question...
When is this supposed $20K per person bill due?
I hope they don't start paying off the debt before I die. I hate to think that I'll be part of the population who will be paying off $15T national debt. Yuck! Anyway, I guarantee you the nat. debt will reach $20T before they start to go down under president Romney, or it will continue to go up under president Obama.
Now you're just being ignorant. Purposely or not, you seem to be completely unaware of how debt works as it relates to the country. Worse, you seem to be more interested in making snarky comments than actually learning what you don't know.
Do you want to pretend there's nothing wrong with this country and Obama is the best president ever? Knock yourself out. One of us is ignorant, and it ain't me.
Come on, use facts, back up your opinion. What exactly is wrong with this country? You fear debt, but you can't say why. I see that debt can be an investment in the future rather than some financial boogeyman. Debt is money we owe ourselves. In theory, using debt to invest in our future is more likely to create returns that eventually cancel out said debt. It's a tool. You simply fear it. Ok, that's your opinion, you're entitled to it, but state why. Why is debt so bad? And how is Obama's debt hurting us?
I'll back up my opinions if you back up yours. But, I doubt you will. You're a parrot. Your opinions aren't even your own...how could you possibly explain them?
"Debt is money we owe ourselves" What the hell does that mean? Look, if you want to think debt is good, the bigger the better, knock yourself out. I'm done wasting my time on clueless people like you.
Wow. You're the only one displaying cluelessness here. But, ok, I'll simplify even further.
The US has a gross national debt around $15T. In your mind, to whom do we, the United States of America, owe that money?
We owe it to Santa Claus, you dumbo. Why don't you get a job or get education. By the way, go out and get your welfare check and food stamps while they're still available. President Romney will require you to work before you can get welfare, you loser.
Your ignorance is shining through again. How can you be so utterly arrogant while knowing absolutely NOTHING about anything? You try to insult me, but only show yourself to be a loud buffoon who has nothing but the most juvenile of jabs. I half expect you to write that my mother wears combat boots. You're a caricature.
Certainly those tax cuts Obama thinks he will be giving to the middle class are part of his own fairy tale. Due to his economic plan, we have already seen our taxes and the cost of living rise. He can't fool me, I'm smart enough to know that if he raises taxes on the "rich" those added costs will most definitely trickle down to the middle class; just as his hand outs to the "poor" and entitled trickle up to the middle class. That's how it works. He is not looking out for anyone in the middle class.
The guy has no idea about fixing the economy. Hell, he knows NOTHING about economy. He'd be the first to admit that he's in way over his head. I imagine the guy sits on his desk late nights and he asks himself: "What the hell am I doing here? I can't do this job. It's too hard. Community organizing... that's my expertise Economy... it's just too confusing."
Can I have some of what you're drinking...
More like when Bush was in office creating this mess.
I imagine the guy sits on his desk late nights with a few lines of coke and a bottle of Jack Daniels and he asks himself: "What the hell am I doing here? Man I am so messed up I don't even know where I am
What an unintelligent response - typical
Guess you cant handle the Truth...TYPICAL