President Obama spoke to an enthusiastic audience today at Mansfield Central Park in Mansfield, Ohio, where he laid out a few key differences between his tax plan and Mitt Romney's:
"[D]espite the evidence, the entire centerpiece of my opponent’s economic plan is a new $5-trillion tax cut on top of the Bush tax cuts.
"Now, the bulk of this tax cut would go to the very top. A lot of it would go to the wealthiest 1% of all households. Folks making more than $3 million a year—the top one-tenth of one percent—would get a tax cut worth almost a quarter of a million dollars. Now, think about that: Folks making $3 million a year or more would get a quarter-of-a-million-dollar tax cut.
"But, listen, it gets worse. Under my opponent’s plan, who do you think gets the bill for these $250,000 tax cuts? You do.
And you do not have to take my word for it. Just today, an independent, nonpartisan organization ran all the numbers on Governor Romney’s plan. This wasn’t my staff, this wasn’t something we did—an independent group ran the numbers. They found that if Governor Romney wants to keep his word and pay for this plan, then he’d have to cut tax breaks that middle-class families depend on to pay for your home—the home mortgage deduction—to pay for your health care—the health care deduction—to send your kids to college. That means the average middle-class family with children, according to this study, would be hit with a tax increase of more than $2,000.
"And here’s the thing. He’s not asking you to contribute more to pay down the deficit. He’s not asking you to pay more to invest in our children’s education or rebuild our roads or put more folks back to work. He’s asking you to pay more so that people like him can get a big tax cut. In order to afford just one $250,000 tax cut for somebody like Mr. Romney, 125 families like yours would have to pay another $2,000 in taxes each and every year ...
"Ohio, we do not need more tax cuts for folks who are already doing really well. We need tax cuts for working Americans. We need tax cuts for families who are trying to raise their children, and keep them healthy, and send them to college, and put a roof over their heads."
James, a steelworker who was in the audience, said the President's message hit close to home:
"I've worked as a steelworker for 30 years. We've gone through good and bad times, but we stuck together. We're one of the best steel producers in the world. And I support President Obama because he supports me. Mitt Romney doesn't know where I came from or what I face. This country is at a pivotal point, and I'm fighting for my kids and my grandkids."
"We've got to help out those who need it most," agreed Gloria, a writer. "$2,000 would be like $2 million to me."
"$2,000 is money that goes toward our bills—toward toothpaste, diapers. It helps," echoed Lawrence, a pastor. "I support President Obama because he's sensitive to the needs of the American people. His values are in touch with middle-class America, and we need someone like that."
Mike, a union worker, says he'll be working to spread the word about the President's support for the middle class because "raising taxes on the middle class to cut them for the wealthy is wrong. Everybody should pay their fair share. President Reagan agreed with that too, back in the day. President Obama supports the middle class and wants to make it strong."
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