October 11th, 2012
10:27 AM ET
2 years ago

Axelrod hits Romney on $5 trillion tax cut–again

(CNN) - David Axelrod, Obama campaign senior adviser, continued to argue Mitt Romney's tax plan would cost $5 trillion, a claim that has been debunked by several fact-checking organizations, including CNN.

"What nobody disputes is that Governor Romney's proposed $5 trillion in tax cuts that would be skewed to the wealthy. What he says is, 'I'm going to offset it with $5 trillion in tax increases in the form of closed loopholes and deductions.' But he won't tell anybody what they are," Axelrod said on CNN's "Starting Point with Soledad O'Brien." "So what we know is he's got a tax cut that's going to favor the wealthy and he'll give us the details on how he's going to offset that later. And if I'm the middle class, I'm saying, 'Watch out' because we know how this ends."

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Filed under: 2012 • David Axelrod
soundoff (64 Responses)
  1. thetruthandnothingbutthetruth

    americans, please vote a straight democrat ticket in november!

    October 11, 2012 12:28 pm at 12:28 pm |
  2. Keith A. Sillsbury

    One more thing, If Rob Me were to cut taxes by 20% and since he only paid in 14% I guess he gets a refund of 6%...huh.

    October 11, 2012 12:28 pm at 12:28 pm |
  3. Marty, FL

    myviewis,
    Pres. Bush left office losing 750,000 American jobs a month with the same failed policies Romney wants to return to giving disproportionate tax cuts to the rich.

    Pres. Obama has overseen over 4.5 million jobs created and unemployment falling below 8%, which is positive news for our country.

    Obama/Biden 2012

    October 11, 2012 12:30 pm at 12:30 pm |
  4. Larry L

    @myviewis

    Bush??? the president that left unemployment at 7.8% when he left office
    -------------------------------------------------
    As you know Bush left office as the recession started – but by January we had already lost over 8 million jobs. Your comment is like somebody saying "Don't blame me... the building was still standing when I started the fire and ran away!"

    October 11, 2012 12:31 pm at 12:31 pm |
  5. Sniffit

    sorry, edit:

    "$2 trillion in defense spending"

    Yep. And don't forget that he promises to get rid of the $716B in Medicare SAVINGS in the ACA. That's another almost $3T. So really, what we're talking about is (a) 20% across the board tax cuts totalling $5T, (b) $2T in defense spending and (c) $716B in nixed Medicare SAVINGS, which really creates a $7.7T hole AND MITTENS REFUSES TO TELL US HOW HE'D FILL IT. Frankly, Axelrod is being nice by focusing solely on the $5T from the sweeping tax cuts Mittens promses.

    October 11, 2012 12:33 pm at 12:33 pm |
  6. Sniffit

    "Your comment is like somebody saying "Don't blame me... the building was still standing when I started the fire and ran away!""

    Indeed...and not only that, but then turning around and yelling and screaming and blaming the fireman for not putting the fire out fast enough while the arsonist stands on the hose to prevent the water from flowing.

    October 11, 2012 12:39 pm at 12:39 pm |
  7. ghostriter

    Heck, the only reason this was debunked was because Mitt has no details of how this will happen. Even with closing loopholes only on the wealthy, counting on increased job rate and the supposed "rich people will now stop hiding money and bring it back" nonsense, it still doesn't make the cut.

    So the question becomes if Mitt will not put forth a tax plan that is not revenue neutral and he can't come up with enough to pay for it, will he live by his word and just not put out a tax plan? Oh......that is what he is doing now.......Gotcha......

    October 11, 2012 12:43 pm at 12:43 pm |
  8. myviewis

    Marty, FL
    Pres. Obama has overseen over 4.5 million jobs created and unemployment falling below 8%, which is positive news for our country.
    ---------------------------

    Bush left unemployment at 7.8%, Obama took office and took unemployment as high as 10.0% and then brought it back down to how Bush left it at 7.8%. Please explain to me this was good of Obama to take us on a crazy unemployment trip just to bring it back to how Bush left it??????? Get real!!!!!!

    October 11, 2012 12:43 pm at 12:43 pm |
  9. myviewis

    Larry L

    @myviewis

    Bush??? the president that left unemployment at 7.8% when he left office
    -----------------
    As you know Bush left office as the recession started – but by January we had already lost over 8 million jobs. Your comment is like somebody saying "Don't blame me... the building was still standing when I started the fire and ran away!"
    ------------------------------

    Obama had no idea what he was doing and that is why our country has been going through this crazy, bad economic situation.

    Think about it, Bush was criticized when he left unemployment at 7.8% and now Democrats actually think it is a good unemployment number for Obama and they want Obama to brag about it, brag about putting unemployment back to how Bush left it.

    The good thing would have been for Obama to have lowered unemployment below 7.8% when he took office and have kept it below 7.8%. Obama did not create jobs he just got back the jobs that he lost because of his chaotic decisions.

    October 11, 2012 12:50 pm at 12:50 pm |
  10. Rudy NYC

    Paul Ryan has said that he "hasn't run the numbers" and suggested that it "would take too much time to explain." When speaking about the $5 trillion cost, Mitt Romney told Barack Obama, "I don't know what you're talking aobut." Apparently Mitt Romney hasn't troubled himself with running the numbers, either.

    Mitt Romney also defended his tax cut plan by fiat. During the debate he said, "It balances because I say so." Because he says so?

    October 11, 2012 12:50 pm at 12:50 pm |
  11. mcskadittle

    myviewis: really? you forgot about the great recession that bush left us in? now you want to elect GWB2? good luck with that

    October 11, 2012 12:52 pm at 12:52 pm |
  12. Marty, FL

    myviewis,
    Pres. Obama successfully stopped the rising unemployment leftover from the previous administration and kept our country out of a depression with steady, positive recovery.

    October 11, 2012 12:53 pm at 12:53 pm |
  13. ghostriter

    myviews, you guys have complained every step of the way. The unemployment rate was rising when Bush left office. It hit the high in Obama's 1st year. Analysis will show that the trend of losing jobs was simply a continuation of the Bush era recession.

    And with the way republicans have simply blocked even the most routine appointments for political gain, it's amazing that Obama was able to get the unemployment rate back to where Bush left it.

    October 11, 2012 12:55 pm at 12:55 pm |
  14. Fair is Fair

    Keith A. Sillsbury

    One more thing, If Rob Me were to cut taxes by 20% and since he only paid in 14% I guess he gets a refund of 6%...huh.
    ---------
    IF the 20% cut across the board, those who pay 14% would pay 11.2% (substract 20% of 14% and you reduce the effective rate by 2.8%).

    The reason democrats don't like tax cuts? Because they don't pay federal income tax to begin with.

    October 11, 2012 12:57 pm at 12:57 pm |
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