Romney responds to Obama's tax cut pledge
July 9th, 2012
11:51 AM ET
2 years ago

Romney responds to Obama's tax cut pledge

(CNN) – Responding to the president's expected call to extend the Bush-era tax cuts for those earning less than $250,000, Mitt Romney's campaign pointed to the implied tax hike for those making more than the stated threshold.

"President Obama's announcement this morning will mean a tax increase for millions of families, job creators, and small businesses," Romney spokeswoman Andrea Saul said in a statement.

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Obama will urge Congress to pass a one-year extension on the tax breaks Monday at the White House, a call his re-election campaign said "will amplify the president's message on middle-class tax cuts."

The president, however, has long said he will oppose extending the tax cuts for the wealthy.

On Sunday, a top campaign adviser said Obama was entirely dedicated to ending the so-called Bush tax cuts for the wealthy at the end of this year.

"He is 100% committed to it," Robert Gibbs said on CNN's "State of the Union."

Obama signed a bill in 2010 to extend the Bush-era tax cuts, citing the need for economic stimulus at the time, but has since vowed he would not permit another extension.

In her statement Monday, Saul added: "Governor Romney knows that job-killing tax increases will hurt our troubled economy even further, and he has a plan to lower the rates and broaden the base without increasing the deficit to encourage investment and job creation."

– CNN's Jessica Yellin and Ashley Killough contributed to this report.


Filed under: 2012 • Mitt Romney • President Obama • Taxes
soundoff (90 Responses)
  1. anagram_kid

    BEND, the problem with your logic is that the people you listed as ‘job creators’ are the same people that would benefit from the tax break, i.e. those making less than 250K p/y. The ‘job creators’ the GOP wants to protect are millionaires and large corporations.

    July 9, 2012 12:18 pm at 12:18 pm |
  2. rs

    But NRC- the statistics don't lie. "Job Creators" like Mr. Romney pay 15% (or less), while the majority in the middle class pay more. Just how far can WE go as a counrty, if we keep milking those who earn LESS than those who are exceedingly well off? How long can we go letting corporations (earning record profits) essentially get away tax free? Why does the GOP keep promoting this idea we can have a government, but that only the rich don't pay?

    July 9, 2012 12:20 pm at 12:20 pm |
  3. 333maxwell

    Thank you Mr President. Rest assured, like you are trying so hard to cover our backs, a good many of us regular folks have your back covered this election as well.

    Godspeed Barack Obama..

    July 9, 2012 12:22 pm at 12:22 pm |
  4. Wire Palladin, S. F.

    What Mittens meant to say, is that " . . .the end of the Bush tax cuts will mean more taxes for those who make millions, like me."

    July 9, 2012 12:23 pm at 12:23 pm |
  5. mikle

    Gibbs has it:obama 100%. Another lie. Bush was bad, so Obama doing what Bush did.

    July 9, 2012 12:25 pm at 12:25 pm |
  6. J

    Obama 2012 – BEND Forward America, take another 4 long years of OBAMA FAILURE

    SOUTHERN HOTTIE – Who are these so-called job creators the GOP is always referencing?
    =========================================================================
    Don't get out of the house much Hottie??? They are in all those stores you drive by on the way to the welfare office! They are the electricians and plumbers you call when you have a problem. They are the guys who fix your car, they are the MILLIONS of self employed people that also hire others. Do you think jobs only come from Obama handouts to fund companies like Solyndra?

    ******************

    "Self-employed" rarely hire others and if they do, they are part-time, earn minimum wage and no benefits. Many of those "hired" work "under the table" so the so-called "employer" can get away with not having to pay any payroll taxes.

    July 9, 2012 12:26 pm at 12:26 pm |
  7. Wire Palladin, S. F.

    Plutocrats like Mittens are outraged, but have always put their rest of their millions in overseas accounts.

    July 9, 2012 12:27 pm at 12:27 pm |
  8. Rick 7809

    Mitt: Tell us how you are going to cut the rates and not increase the deficit!!!! I would really like to believe it is possble, but history tells us it can't be done.

    July 9, 2012 12:28 pm at 12:28 pm |
  9. anagram_kid

    Nrc,
    OK, here is some ‘simple economics for you. Who do you think will put more demand in the economy ten people making 50K or one person making 500K?

    July 9, 2012 12:28 pm at 12:28 pm |
  10. Claudia, Houston, Tx

    Just face the facts people, Romney belongs to an exclusive club owned and operated by the Koch Bros., et al and you keep parking your old Ford pickup next to their Lamborginis.

    July 9, 2012 12:30 pm at 12:30 pm |
  11. stop eurocentric supremacy

    Hey ben dover!
    First off unless i've ever needed welfare and know what its like then keep ur mouth shut. Secondly I've never met a guy who fixed my car that made over 75gs a year year so u have no idea what ur talking about. Maybe the dealer from mercedez benzmakesthat kind of money, but def not my Impala mechanic. And anyways u know we're right, Romney hasn't proposed a single solution, the explanation of what happens when we raise taxes on the rich in these comment is more than I've heard this whole election cycle from Romney. Ur outa touch and outa line friend

    July 9, 2012 12:30 pm at 12:30 pm |
  12. Four and The Door

    Kenneth the VI of Minneapolis
    According Romney's spokeswoman Andrea Saul, Mitt Romney will "...lower the rates and broaden the base without increasing the deficit ..." How will he do this? What is the plan?
    ______________________________________________________________________________________________
    Real Economics, not economic experiments like massive government spending to try and buy a down economy back to life. The private sector is much more capable of lifting the economy up than the government is, so the easy answer is to enable private businesses to grow. Believe me, they want to grow and expand as much as we all need them to. But America 2012 has evolved into a tough environment to grow a business in. American businesses are taxed higher than in any other developed country. That's wrong and irresponsible, but a result of huge government debt and out of control government spending. Taking business profits and using them to pay interest on $16 trillion of debt rather than putting the money back in the business for expansion and job creation is a missed opportunity for recovery. Business decision makers face an uncertain tax environment under Obama Administration policies. The federal government needs to be responsibly managed and this is not what we have seen in the last 3 1/2 years. We have seen political desperation and ineffective but expensive programs. Enough already. Romney 2012.

    July 9, 2012 12:31 pm at 12:31 pm |
  13. Wire Palladin, S. F.

    When the middle class and the poor get tax cuts, they spend the money, creating a demand for goods. When the Kochs make record $26 billion in profits, they lay off workers, and buy elections with negative ads.

    July 9, 2012 12:31 pm at 12:31 pm |
  14. GOP puts "chri$t" in "chri$tian" since 60% of the GOP believes they should not care for those less fortunate!

    Increased demand creates jobs, NOT tax breaks for the rich.

    July 9, 2012 12:31 pm at 12:31 pm |
  15. Maxx

    "Governor Romney knows that job-killing tax increases will hurt our troubled economy even further, and he has a plan to lower the rates and broaden the base without increasing the deficit to encourage investment and job creation."

    You see, Mitt has this secret plan that makes everything better for everyone, especially his rich friends, but he's not going to tell anyone about it 'cuz they might steal his brilliant ideas.

    July 9, 2012 12:32 pm at 12:32 pm |
  16. solrac503

    Where is the trickle-down when Romney and his fat-cat friends are throwing their money into Social-Democratic and Communist countries, ie China and Switzerland. This money was invested out of our country regardless of who politically was in office.And Bain Capital? Is that what we have to look forward to in a Romney world – minimum wage jobs that are always at risk of being outsourced?

    July 9, 2012 12:34 pm at 12:34 pm |
  17. Andrew

    Maybe if the republicans would have passed Obama's job plan, we would not be in this mess. Oh, that's right, the only thing they're interesting in is to make Obama a one term president. To all REPUBLICAN voters, I have some ocean front property to sell you in Kansas.

    July 9, 2012 12:34 pm at 12:34 pm |
  18. William Zimmerman

    What does a person with $10 Million want? ...... 11 Million !!

    What does a person who is starving want ? ..... Food !!

    July 9, 2012 12:36 pm at 12:36 pm |
  19. Jerry

    The Cammillian-in-Chief is ABOUT to strike, AGAIN! HE and his lapdogs must be getting really desperate. First, HE was against the Bush era taxes for everyone, including the middle class. Since HE's raising taxes on the middle class because of HIS Obamacare boondoggle, now HE's in favor of the Bush era taxes. What a lying/despicable hypocrite.

    Now it's clear why the Mr. Obama presidency is so often referred to as the "Imperial Presidency."

    Can this over-his-head man and his equally misguided administration be any more hypocritical?!

    July 9, 2012 12:38 pm at 12:38 pm |
  20. ghostriter

    Four and the Door,

    I think the question is how exactly do you do that? What is the turnaround on this?

    For everyone, This is a stupid argument. The number show that this won't affect 90% of SB owners. The could even make concessions for businesses that make that much, but only have a few employees. Republicans claim that this hurts small businesses is about as stupid as democrats claim that this is the solution to our problems.

    July 9, 2012 12:38 pm at 12:38 pm |
  21. Obama 2012 - BEND Forward America, take another 4 long years of OBAMA FAILURE

    anagram_kid - BEND, the problem with your logic is that the people you listed as ‘job creators’ are the same people that would benefit from the tax break, i.e. those making less than 250K p/y. The ‘job creators’ the GOP wants to protect are millionaires and large corporations.
    =============================================================================================
    I'm curious why you think there is some magic line between between "good" and "bad" businesses?? People making under $X are OK and not evil, but make more and you're evil and greedy?? Total nonsense.

    Businesses require money to start. Most are not profitable for years and need money to keep them alive and get them off the ground. That money comes from those "evil rich" people that wish to invest their money, and make some money in return, and businesses get a chance to grow and thrive. Sometimes they do not and these people LOSE their money. Just ask all those GM and Chrysler stockholders and bondholders that Obama screwed!

    The fact is it takes many things to come together to make a successful business. A country that is openly hostile to successful people and businesses will get LESS of them. If Obama and the leftists keep going down their class warfare road, they will eventually put everybody in the unemployement line.

    July 9, 2012 12:38 pm at 12:38 pm |
  22. Rudy NYC

    When are people going to wake up to the great scam that is trickle down economics?

    1. Why would someone create a job if there is no increased demand for goods and services?
    2. Why would someone who says "cut my taxes so I can keep my money" suddenly become benevolent and start creating jobs for lower income people?
    3. Mitt Romney is a job creator. Ask him how many people work for his corporation in Bermuda?

    July 9, 2012 12:38 pm at 12:38 pm |
  23. Koch is the "hopium" of the 1%.

    Robme and his posse have had 11 years of tax cuts for the "job creators", if they worked there would be full employment in the U.S. and green cards for anyone that wanted one!

    July 9, 2012 12:40 pm at 12:40 pm |
  24. mmad5camp

    In her statement Monday, Saul added: "Governor Romney knows that job-killing tax increases will hurt our troubled economy even further, and he has a plan to lower the rates and broaden the base without increasing the deficit to encourage investment and job creation.

    Are they sitll job killing taxes if no jobs are being created now that taxes have been cut for the past 10 years?

    July 9, 2012 12:40 pm at 12:40 pm |
  25. mcskadittle

    are there really millions of people making over 250000?

    July 9, 2012 12:40 pm at 12:40 pm |
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