Romney: Obama tax proposal would kill jobs
February 22nd, 2012
01:57 PM ET
2 years ago

Romney: Obama tax proposal would kill jobs

Chandler, Arizona (CNN) - Mitt Romney charged Wednesday that President Obama's new corporate tax proposal would kill jobs, and instead offered some details of his own plan to address the nation's tax code.

"The president would take us in one direction, I'll take us in a different one," Romney told an audience of several hundred in Chandler, Arizona, as the GOP candidate attempted to regain his momentum by emphasizing his economic credentials.

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"He's proposing today a corporate tax plan which I understand sounds like he's lowering taxes but he's raising taxes – raising taxes on businesses by hundreds of billions of dollars," Romney said. "Raising taxes will kill jobs. My plan will create jobs. That's the difference between the two of us."

Romney said he would lower individual tax rates on all Americans by 20% but would limit the deductions and exemptions people could claim on their taxes.

The GOP candidate said those limitations would apply particularly to taxpayers earning high incomes "so that we make sure the top 1% keeps paying the current share they're paying or more."

"We want middle-income Americans to be the place we focus our help, because it's middle-income Americans that have been hurt by this Obama economy," Romney said.

The former Massachusetts governor will release the full scope of his economic plan Friday, in a speech to the Detroit Economic Club. The speech, which Romney has mentioned in public appearances since Tuesday, comes days before Michigan's crucial primary Feb. 28.

Romney has signaled his plan will include cuts to federal spending and an approach to overhauling entitlement programs such as Medicare and Social Security. He did not offer specifics on Wednesday.

The four GOP presidential hopefuls will meet on stage Wednesday evening for a CNN debate.

Also see:

Graham clarifies remarks on Obama's faith

New Poll: All knotted up in Michigan

Support from men and evangelicals boosts Santorum nationally

The Detroit News endorses Romney


Filed under: 2012 • Arizona • Mitt Romney • President Obama
soundoff (25 Responses)
  1. Sandy

    You mean like when you killed jobs, Mittens? Under Obama, over 3 million jobs were created. I don't see how that is "killing" jobs.

    February 22, 2012 02:04 pm at 2:04 pm |
  2. @OmegaRaiel

    Lowering the corporate rate and eliminating deductions is the exact plan the GOP has been touting. Yet when Obama agrees with it, it's bad!

    February 22, 2012 02:07 pm at 2:07 pm |
  3. Curt

    Would Romney agree to a bet? If he's nominated then elected to be President and does not create all the jobs he says he will, will he resign as President? Amazes me how they can all say they will create all these jobs without proving how. Talk is cheap.

    February 22, 2012 02:08 pm at 2:08 pm |
  4. GROVER NORQUIST IS A ENEMY OF THE STATE

    "We want middle-income Americans to be the place we focus our help, because it's middle-income Americans that have been hurt by this Obama economy"
    ------------------------------------–
    No Willard! The economy has grown 9% under President Obama. Look here Willard! If you're against it, I'm for it. 3 months down the road you'll be singing a different tune. You're still trying to protect the 1%. You just don't get it!President Obama is the one who's been fighting for the payroll tax cut extension. Where were you on that?

    February 22, 2012 02:11 pm at 2:11 pm |
  5. Annie, Atlanta

    But it's similar to what Romney is proposing. And sadly the same sorry proposals that we've seen for decades. When are these guys going to realize that supply side economics (trickle down effect) doesn't work. Giving these guys tax breaks haven't created jobs, or we'd be swimming in them just based on the tax breaks since President Bush (W). They must think we're stupid.

    February 22, 2012 02:11 pm at 2:11 pm |
  6. Mikey

    So now making corporations that are paying zero taxes actually pay some taxes is killing jobs? Obama's plan is exactly what the GOP has been calling for – lowering the tax rate and closing loopholes.

    2/3 of our economy is consumer spending. Demand creates jobs. "Job creators" don't create jobs for the fun of it. They just fill demand. No demand, no jobs. For every "job creator" there are 10 people who would love the business opportunity. The GOP really needs to cut the mumbo jumbo double talk. You want to create jobs – keep the middle class strong. Make sure we have a strong middle class with spending power and the demand that creates jobs will be there.

    February 22, 2012 02:13 pm at 2:13 pm |
  7. Russ

    Sad thing is the naive sheep in the Republican base buy into this rhetoric. The current tax code sure hasn't been creating an over abundance of jobs. The corporations are hoarding their cash for executive bonuses. Might as well tap into it to help balance the budget. Obama 2012!!

    February 22, 2012 02:26 pm at 2:26 pm |
  8. Jariv

    Annie, Atlanta – Obama has not created jobs, he has lost our credit rating, he is not the leader the Americas need. Say what you want. If it was a white man in the white house you would be all over him. I hear it all over. " They have never treated a president with this much disrespect " Ooh Please. It is so stupid, and I feel sorry for all of us. Because of people that think this like you, because I am on the same boat. I will be affected. That is why I am voting Romney. So we can stop Obama from destroying whats left.

    February 22, 2012 02:26 pm at 2:26 pm |
  9. Greyman

    Funny how a proposal with ideas that initially came from Republicans suddenly has them foaming at the mouth.

    February 22, 2012 02:27 pm at 2:27 pm |
  10. Four and The Door

    Curt
    Would Romney agree to a bet? If he's nominated then elected to be President and does not create all the jobs he says he will, will he resign as President? Amazes me how they can all say they will create all these jobs without proving how. Talk is cheap.
    ________________________________________________________________________________________________
    No Curt, giving Obama more after all he has taken in the name of jobs and the economy without even coming close to his promises is cheap. The American voters have seen Obama's programs play out. It is not working and we can do better.
    Romney 2012!

    February 22, 2012 02:28 pm at 2:28 pm |
  11. Jariv

    Mikey – If there are corporations paying zero taxes, do you know why? Tell us please. Your statement is not true. Its bigger than what you think and what I know. So many things that need to happen to have a good economy. I could say this " If you do not have a Job, what are you going to consume if you barely have money? "

    February 22, 2012 02:32 pm at 2:32 pm |
  12. Voice of Reason

    Just more red-meat nonsense. C'mon Romney! Unemployment is down, the Dow hits record highs, the economy is starting to gain momentum, and the GOP is out there waving their hands and saying, "No no! Stop it! We need America to fail! People gotta believe that we're circling the drain!" Enough of the scare tactics, enough of the hubris.

    No man should win power through fear.

    February 22, 2012 02:32 pm at 2:32 pm |
  13. Thomas

    It will be the price at the gas pump that will defeat Obama.

    The Energy companies and big oil don't want 4 more years of this administration.
    Subsides for big oil and coal . Deregulation and less environment protection.

    Mitts Tax proposal will lost in the file bin , the day after his inauguration.

    February 22, 2012 02:33 pm at 2:33 pm |
  14. Adp

    Raising taxes doesn't kill jobs nor does lowering them create jobs. Jobs are created when there is need for a business to expand to meet demand.

    Mitt Romney cannot defend his position with facts, just with talking points. This is a plan that not just the GOP has called for although I don't remember them being particularly keen on eliminating the loop holes and breaks.. that idea came from the Democrats.

    Obama is being sensible, reduce the top rate which is the highest in the world at 35% and eliminate the ability to substantially lower your rate to something ridiculous such as 13-15% all the while giving tax credits to businesses who do business in the United States rather than a foreign country.

    The Democratic agenda is focused on the middle class. Making a robust middle class who's spending power grows will increase business demand and therefore create jobs –> to more spending power -> more jobs.

    The Republicans wan't corporations to be able to keep their money in their pockets naively asserting that they will use that money to create jobs. It's just a falsehood. Corporations will not throw money to expand their business when there is no need, they will continue to stash their profits until it is desirable to expand.

    February 22, 2012 02:39 pm at 2:39 pm |
  15. David in Houston

    "Mitt Romney charged Wednesday that President Obama's new corporate tax proposal would kill jobs..."

    And Mitt knows more about killing jobs than anyone.

    February 22, 2012 02:39 pm at 2:39 pm |
  16. jeffromac

    I like how he said that Obama is responsible for the decline of the middle class when clearly it is because of the Republican Partys polices. You know that whole trickle down thing that only made the rich richer, the poor poorer and the middle class decline.

    February 22, 2012 02:40 pm at 2:40 pm |
  17. Kevin

    Mikey, Thank Yoiu so very much. I have been saying this for the last 3 years. If we don't have a middle class that makes 40k, 50k, 60, 70k than we will have a depression. 40, 50, 60, 70k are the middle class.

    February 22, 2012 02:42 pm at 2:42 pm |
  18. Rudy NYC

    What on earth does Mitt Romney know about creating jobs? All of his claims of job creation are being proven, one by one, to be totally false. Romney is still pushing that old, should be defunct by now, religion of trickle-down economics, which always, always create a boom-and-bust cycle. The bigger the boom, the bigger the bust. It is a policy that is great for short term profits [notice I didn't say jobs] but terrible for long term jobs growth. America cannot endure another cycle like that, especially not now.

    February 22, 2012 02:45 pm at 2:45 pm |
  19. Oscar Herbert

    Romney offers business savvy, deep economic understanding, outstanding records of efficiency and success, and the outsider's ability to deliver a smaller, smarter, more productive government. I respect Romney's deep commitment to individual liberty and freedom of religion. Romney will protect our liberties by allowing individual states to respond to the will of their citizens. Santorum, on the other hand, wants to consolidate powers in the federal government and with his big spending habits will bring us more bureaucracy. Please support Romney for a better future for all.

    February 22, 2012 02:56 pm at 2:56 pm |
  20. kayla

    what a joke romney trying to look like regular folks, you are so transparent

    February 22, 2012 03:10 pm at 3:10 pm |
  21. Cheryl

    The economy is bouncing back; unemployment is lower, etc. What's with all of the republican scare tactics! "Obama's ideas are killing jobs, etc". OMGoodness What's next.. Obama Sneezes and kills jobs!? He is doing the best he can do; with the help he is given. Period.

    February 22, 2012 03:18 pm at 3:18 pm |
  22. Anonymous

    Geez, I predicted this response two hours ago: Oppose what your party once supported. Flipper the Elitist Robot comes through with flying colors as yet another GOBP deathcult hypocrite.

    And anyone who takes tax advice from a weasely elitist scammer and corporate vulture like Rmoney should hide his or her wallet. Rmoney is all about himself and his psychopathic neocon cronies hiding among the 1%ers. He doesn't care about you and I so don't trust him to tell us what's good or bad for us.

    February 22, 2012 03:20 pm at 3:20 pm |
  23. Rudy NYC

    Oscar Herbert

    Romney offers business savvy, deep economic understanding, outstanding records of efficiency and success, and the outsider's ability to deliver a smaller, smarter, more productive government.
    ------------
    TRANSLATION: Mitt Romney is a salesman. The product he sells is capital.

    BTW, I noticed that you made a reasonable argument in favor of profit, but completely failed to mention jobs at all.

    February 22, 2012 03:26 pm at 3:26 pm |
  24. The Real Tom Paine

    Spoken like a true GOP cultist, four. Obama is doing what the GOP has wanted to do, but, now that he has proposed it at a time that actually makes sense, the GOP is naturally opposed to it. Its astonishing and sad to see the world you have created for yourself, where even your own ideas get rejected when your opponants agree with them.

    February 22, 2012 03:28 pm at 3:28 pm |
  25. Joi Gibson

    Blah, blah, blah, blah, Obama bad, Willard good, blah, blah, blah. Now he cares about middle income Americans. Too late!!

    OBAMA/BIDEN/FIRST LADY MICHELLE 2012!!!!

    February 22, 2012 03:28 pm at 3:28 pm |