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. Sniffit

    "Let the Bush tax cuts expire for EVERYONE.

    Let the payroll tax cut expire for EVERYONE.

    Or don't you have the guts, Obama?"
    ===
    No, he just has the brains not to. Problem with guts was played out for us while watching the GOP and Dubya shoot from the hip for 8 years. I'm going to go with the guy who realies on grey matter instead of gastronomy. I'll take ideas over ideological farts any day.

    July 9, 2012 12:41 pm at 12:41 pm |
  2. CanadaONE

    if you do not take care of the majority of midle class people and you only argue for the rich (3%) YOU ARE NOT A DEMOCRATIC COUNTRY you are a dictarorship designed only for a SELECT FEW

    the GOP = Government Opposig the People

    July 9, 2012 12:41 pm at 12:41 pm |
  3. GROVER NORQUIST IS A ENEMY OF THE STATE/ConservaFASCISTS

    Blah Bllah Blah Willard. If it were up to me, I'd let the Bush tax cuts expire for everyone. You intend on keeping them in place for everyone. But what else can we expect from a 1%er like yourself. How about you take your money out of those tax havens abroad you tax cheat. You should be audited by the IRS.

    July 9, 2012 12:41 pm at 12:41 pm |
  4. Rudy NYC

    Four and the Door wrote:

    Real Economics, not economic experiments like massive government spending to try and buy a down economy back to life.
    --------------------
    History and the facts say that you are dead wrong. We have spent our way out of every recession since the 1930s. In fact, it was under Republican presidents that we spent the most, and saw the largest spending increases.

    July 9, 2012 12:41 pm at 12:41 pm |
  5. Four and The Door

    Andrew
    Maybe if the republicans would have passed Obama's job plan, we would not be in this mess.
    ________________________________________________________________________________________
    Oh that's precious... Obama's jobs plan here to save the day! It's just Stimulus Part 2. No thanks. Fool us once, shame on you. Fool us twice, shame on us. But that's not going to happen. The American Voters sent huge numbers of Republicans to Washington in 2010 ( remember the shellacking?) to cut out-of-control government spending just like Obama's "jobs" bill. The Republican House has been doing it's job very well. We will finish the shellacking in November and this time Obama gets tossed with the rest of the dead wood.

    July 9, 2012 12:42 pm at 12:42 pm |
  6. Pam from Iowa

    Mitt doesn't get it and never will!!!!
    His concern for his rich campaign donors shows too much!!!!

    July 9, 2012 12:43 pm at 12:43 pm |
  7. anagram_kid

    Four wrote – The federal government needs to be responsibly managed and this is not what we have seen in the last 3 1/2 years.
    ----------------------
    Huh? You do know that presidents Regan and Bush II greatly increased the size of government. Your inference that President Obama is solely responsible for the size of government makes you look very uniformed.

    July 9, 2012 12:43 pm at 12:43 pm |
  8. Tom

    Umm....Obama paid less taxes than his secretary??? Also, Romney is retired. For those of you who do not apparently understand finance, the 15 percent he is paying is capital gains on long term investments. Those investments were made with money that he EARNED that he ALREADY paid taxes on. Just like every other person with a retirement account or investment account. Double taxation is awesome isn't it!!

    July 9, 2012 12:44 pm at 12:44 pm |
  9. Dave

    Once again, what's YOUR plan, Mitt?

    July 9, 2012 12:44 pm at 12:44 pm |
  10. Logic N LA

    Please show me ONE job created by a wealthy American because of a income tax cut. Hiring personnel for a business is an autmatic business deduction. This bullshit by Romney and other Republicans has to stop.

    July 9, 2012 12:45 pm at 12:45 pm |
  11. charles

    Obama is doing something. Romney is criticising every move he makes even if Romney enacted it or advocated for it before without putting forth anything of his own. Really, is that all you've got? You will lose so bad I pity you, Mitt.

    July 9, 2012 12:45 pm at 12:45 pm |
  12. CanadaONE

    it is time for the PEOPLE to rise up an take action against the GOP "Government Opposing the People " VOTE OUT evry REPUBLICAN BEFORE THEY PUT YOU IN THE HOLE again

    love Canada

    July 9, 2012 12:45 pm at 12:45 pm |
  13. GOP = Greed Over People

    "Let the Bush tax cuts expire for EVERYONE"

    Works for me, I can afford to give up that $7 a week the shrub so generously gave me.

    July 9, 2012 12:45 pm at 12:45 pm |
  14. anagram_kid

    BEND, where did I use the terms ‘evil rich’ or ‘bad business’ ? I did not. I pointed out that the people YOU listed as ‘job creators’ do not make more than 250K and the tax break would benefit them.

    July 9, 2012 12:47 pm at 12:47 pm |
  15. The Job Creating Bush Tax Cuts?

    If these so-called Bush tax cuts were such job creators like we were told they would be by the GOP, wouldn't we all have jobs at this point? We were told by the Republicans under W. Bush that giving this surplus money created under the Clinton administration disproportionately back to weathier tax payers would create all these jobs. Obama has not added any new federal income taxes to anyone's income and has left the Bush tax cuts in place and even extended them beyond their original expiration date. So where are all these jobs?

    Fast forward 10 years later and I am supposed to believe that Romney is somehow going to come in and lower taxes yet again even further (somehow magically lowering the deficit at the same time), and then a whole bunch of these jobs are going to be created. Do they think we are insane? This is pure stupidity at its finest.

    After a decade of this crap, what kind of moron would actually think going in deeper would actually solve anything?

    July 9, 2012 12:47 pm at 12:47 pm |
  16. Tom

    On the quote about romney's rich campaign donors....Obama is having $40 K a plate fundraisers with nothing but RICH persons. He is so for the middle class!!

    July 9, 2012 12:48 pm at 12:48 pm |
  17. ralphgmiami

    Man cannot govern his way no matter what political system he sets up. No political party are going to solve mankind's problems. You get the same propaganda every four years. There is only one solution and it's coming. First of all false religion will fall on a global scale as in Revelation 14:8. Religion will be taxed in order to get out of municipalities,states and cities out of their economic woes. God will cause this to happen in order for false religion to end. Then Jesus Christ will come as a spirit not as a man. He's also not coming as a comet. He's not destroying the earth but ending wickedness in Armegeddon.

    July 9, 2012 12:48 pm at 12:48 pm |
  18. Rudy NYC

    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".
    ----------–
    Aggressive tax cuts for the wealthy have always had one result, an investment boom followed by an even longer economic bust as the investors take their profits. That is what always happens. Trickle Down Economics should be called "Boom Then Bust" economics.

    July 9, 2012 12:51 pm at 12:51 pm |
  19. ST

    Oh boy! this might be a bitter pill to swallow for the rich. They have been throwing money to (Super PACs), as if they were throwing sand into the ocean, now comes the sharp razor blade to be applied on their mega$ (in form of paying high taxes). How nice!

    July 9, 2012 12:52 pm at 12:52 pm |
  20. Ant

    I believe every body knows where Obama stand at this point.

    July 9, 2012 12:55 pm at 12:55 pm |
  21. Rudy NYC

    Tom

    On the quote about romney's rich campaign donors....Obama is having $40 K a plate fundraisers with nothing but RICH persons. He is so for the middle class!!
    ------------------–
    Most of the time a couple middle class [under $100] campaign donors are invited to those events. They are selected at random from the hundreads of thousands of small donors that contribute to the Obama campaign. It actually pays off in increased small donor contributions, which more than offset the lack of a $40,000 that the seat would have otherwise brought in.

    July 9, 2012 12:55 pm at 12:55 pm |
  22. ge

    why don,t the job shippers like romney,koch,s,waltons trumps just go to the countries where there investments and banking accounts are.the middle class will do what they have been doing for years building the country not kingdoms

    July 9, 2012 12:55 pm at 12:55 pm |
  23. BARACK HUSSEIN OBAMA has a FAILURE PROBLEM

    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.
    ======================================================================================
    Obama's answer is simple. Keep printing money and giving it to people to spend. It hasn't worked in 4 years. The dollar is losing its value and people are still unemployed. Obama has undermined the entire enviroment with his policies and class warfare. If he is re-elected, things will only get worse. He is not a leader. He does not know how to work with others. He doesn't understand our economy or economic system. He is slow poison to our country and economy.

    July 9, 2012 01:00 pm at 1:00 pm |
  24. GOP puts "chri$t" in "chri$tian" since 60% of the GOP believes they should not care for those less fortunate!

    Glad Team Robme only gets news from the official voice of the RNC formerly known as Fox News, otherwise, they would know that over 3/4's of Americans approve of this "tax increase".

    But, just keep championing those tax cuts for the rich, that is sure to put you and your "dressage" pony in touch with middle America!

    July 9, 2012 01:01 pm at 1:01 pm |
  25. Henry

    Let them expire for everyone and use it to pay down the debt.

    July 9, 2012 01:04 pm at 1:04 pm |
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