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. "If you've got a business, you didn't build that. Somebody else made that happen." --B. Obama

    And the collapse of the uhbama fiasco continues.

    October 11, 2012 11:39 am at 11:39 am |
  2. plain&simple

    To ria...our president has been dealing with the realities of the world and the worst obstruction in American history by a party which proports to put country first....our country is changing and that's what has the right so disturbed. Welcom to hope and change for the betterment of all.

    October 11, 2012 11:40 am at 11:40 am |
  3. Borderless

    Democrats: Once a proud haven for liberals, now a corrupt mafia of corporate and special interest puppets. Once open to new ideas. Now mired in the same tired pursuit of a failed social and economic agenda. Once a peaceful oasis in a world of hate. Now home to the most vile hate mongers. If you can't vote liberal, vote sensible. Romney/Ryan 2012.

    October 11, 2012 11:43 am at 11:43 am |
  4. sonny chapman

    Sounds like "Fuzzy Math". Hell, everything that Romney says sounds fuzzy. He's make a great Used Car Salesman.

    October 11, 2012 11:45 am at 11:45 am |
  5. Gurgyl

    "we don't have people that become ill who die in their apartment because they don't have insurance, no you go to hospital, get treated, paid by CHARITY, OR GOVERNMENT, OR BY HOSPITAL". Mitt ROMNEY., CNN please follow and blow up this idiot concept–nation is in jeardy now with this idiot.

    October 11, 2012 11:47 am at 11:47 am |
  6. linda jean

    Re: HIS tax cut-This may end with: Having lest food on poor and middle class tables. Closing small businesses or just ignoring the needs of the 47%! Linda jean

    October 11, 2012 11:49 am at 11:49 am |
  7. Khaleeshi

    Mitt the Twit and Lyin Ryan – how could anyone trust a word that comes out of their mouths at this point.

    Obama/Biden 2012

    October 11, 2012 11:52 am at 11:52 am |
  8. Logic N LA

    Interesting that CNN would say this has been debunked by every fact checking organization since everyone, including CNN has said it was a true figure given an across the board 20% tax cut would equal 5 trillion dollars. As Axelrod pointed out, until we see or hear what the loopholes being closed are, this balance sheet shows one figure- 5 trillion dollars.And that is what every fack checking organization has said- including CNN the night of the debate.

    October 11, 2012 11:53 am at 11:53 am |
  9. Roger Lemire

    The only loopholes the Mitt cuts will be to prevent any trickle down money to the middle and poor. He doesn't give the details because the koch brothers and Karl Rove have yet to tell him what they are. Even his (former Bush) Advisors are scratching their heads. Mitt will be WORSE than Bush.

    October 11, 2012 11:57 am at 11:57 am |
  10. ghostriter

    Mitt's problem is that his plan depends on an increase in employment. He will need to add more than double the jobs he projects over the next four years at $40,000/ year or the salaries for those jobs will have to be at least triple that or about $120,000/year.

    Like they said, the numbers just don't add up.

    October 11, 2012 11:58 am at 11:58 am |
  11. Sniffit

    "continued to argue Mitt Romney's tax plan would cost $5 trillion"

    That is NOT what Axelrod argued. You are blatantly mischaracterizing his argumetn to give yourselves a strawman to "debunk." The argument is that it is a mathematical truth that a20% across-the-baord cuts would create a $5T "hole" that has to be filled in if the cuts are to be net "deficit neutral" as Mittens promises, but MITTENS WON'T SAY HOW HE'D FILL IN THAT HOLE HE PLANS TO CREATE. THAT is the argument. Yo're only focusing on the first part as if people are saying that Mittens plans to create a $5T deficit. NOBODY IS ARGUING THAT. What we're pointing out is that his evasiveness...nay...UTTER REFUSAL to talk about specifics, details, name loopholes or deductions he is willing to cut, name programs he is willing to cut, etc., is indicative of his lack of clarity, his lack of a real coherent plan and the complete absence of any willingness to be forthright with the American people. STOP MISCHARCTERIZING THE ARGUMENT JUST TO CREATE A FALSE EQUIVALENCE.

    October 11, 2012 11:59 am at 11:59 am |
  12. Rich Park

    Willard says the tax loop hole closures will work out such that they do not effect the top 3%ers net payment? Well that just leaves the base broadening which will have to effect somebody? You need to go beyond the base Regan tax plan because that was just intended to balance the budget, when we need to reduce EXISTING debt. Now as for Ryan’s wonki un-specified math (Willard now jumping on in this aspect also) Both want to debate the loop hole closures in the congress where they have a majority and don't have to listen to the other side at all, WHO wouldn't want to determine their own partisan loop hole closures in that fashion? Willard’s waffling figurehead positions can move to the middle all he wants now because the rest of his party is so far right he can't lead them anyway when it comes to actual legislation

    October 11, 2012 12:00 pm at 12:00 pm |
  13. myviewis

    plain&simple

    To ria...our president has been dealing with the realities of the world and the worst obstruction in American history by a party which proports to put country first....our country is changing and that's what has the right so disturbed. Welcom to hope and change for the betterment of all.
    ------------------------------

    Wrong. The problem is Obama says he can't change from the INSIDE, yet Obama wants to continue in the INSIDE. Obama said it has to be changed from the OUTSIDE, which is why Obama needs to come back to the outside with the rest of us and let someone else be on the INSIDE=Romney/Ryan 2012.

    October 11, 2012 12:00 pm at 12:00 pm |
  14. Terri

    @Roger Lemire
    I agree! Mitt will BE worse than Bush – at least Bush could be likeable at times!!

    October 11, 2012 12:02 pm at 12:02 pm |
  15. Bill from GA

    To 4-door:

    Romney has been talking for over a year about cutting taxes by 20%. Now he says he will not cut taxes for the wealthy, and his plan will be revenue neutral.

    If romney has a plan where the there is no loss of revenue, he must have already worked out the details, else he could not honestly make that claim. If he wants the voters trust, he could explain that math, not say it is up to Congress.

    We the voters need to know what deductions will be lost to pay for mitts tax cuts, which will definitely benefit the most of the wealthy if their top rate goes from 35% to 27%.

    October 11, 2012 12:03 pm at 12:03 pm |
  16. rogerbarton

    Romney is quick to say that Obama isnt doing his job, but the last year when Romney was Governor he was out of State 202 days out of 260 work days. If you do not believe me go to Wiki and look him up. He did however take one of the elevators in the Capital Building in Mass, and earmark it for his exclusive use. He rarely spoke to any members of the Mass Congress, and could not remember any of their names. He treated people just like a typical CEO of a large company treats their employees, indifferently. His 47% comments proved he is not the President for all people, just the 1%.

    October 11, 2012 12:03 pm at 12:03 pm |
  17. Borderless

    The Obamakin Method:
    Create a lie. Argue the lie until it is proven false. Try to skew information to prove the lie is true. Fail. Perpetuate the lie anyway.
    Obamakins: Bringing shame to liberal causes since 2008.

    October 11, 2012 12:06 pm at 12:06 pm |
  18. myviewis

    Terri

    @Roger Lemire
    I agree! Mitt will BE worse than Bush – at least Bush could be likeable at times!!
    --------------------------–

    Bush??? the president that left unemployment at 7.8% when he left office and Democrats are actually praising Obama for bring unemployment back down to the way he founded when he took office which was 7.8% and Democrats think 7.8% is actually really good. No, Bush was not bad, Democrats made Bush out to be bad.

    October 11, 2012 12:08 pm at 12:08 pm |
  19. Rick McDaniel

    That's totally dishonest.

    Romney's plan is a revision of the tax CODE, and the Dems just plan to keep on running up the debt.

    October 11, 2012 12:11 pm at 12:11 pm |
  20. Sniffit

    There's no lie here.

    Fact – 20% across-the-board cuts create a $5T hole That's math. It's not arguable nor deniable.

    Fact – Mittens promises that his "plan" is revenue and deficit neutral.

    Fact – Mittens completely and utterly refuses to state how he would fill in the $5T hole he promises to create.

    None of that is false. All facts. The reality is, Axelrod told the truth, and CNN and the MSM are desperately mischaracterizing the argument in an attempt to manipulate the polling going into the election.

    October 11, 2012 12:19 pm at 12:19 pm |
  21. plain&simple

    To my views....when a president says the change isn't happening on the inside he is calling for the voice of America to tell the entrenched insiders to join in to the job of governing. Hope and change versus despair and stagnation!!! Yearning for the past is nothing but fear....

    October 11, 2012 12:21 pm at 12:21 pm |
  22. Sniffit

    Wow CNN. Strawmen galore eh? I think we now have our answer to the question of how badly the MSM's upper management and stockholders want a 20% tax cut and 0% capital gains rates.

    October 11, 2012 12:21 pm at 12:21 pm |
  23. Mainer

    Tax breaks for the wealthy means the total destruction of the middle class. Do NOT be fooled by these snake oil salesmen. RobMe is a tax cheating LIAR.

    WHERE ARE YOUR TAX RETURNS ROBME !

    October 11, 2012 12:22 pm at 12:22 pm |
  24. Larry L

    @Rick McDaniel

    That's totally dishonest.

    Romney's plan is a revision of the tax CODE, and the Dems just plan to keep on running up the debt.
    -----------------------------------------------–
    What evidence do you have of Romney's "plan"? He promises tax breaks for all, great healthcare, reduced deficit, cheap gas, 12 million new jobs, subsidies for big oil, $2 trillion in defense spending, and a new embassy for Israel! Cool! He simply tells us to "trust him" with the details. Really? Why won't he trust us with a look at his tax returns?

    October 11, 2012 12:27 pm at 12:27 pm |
  25. S.B. Stein E.B. NJ

    The problem is that there is a rate reduction (does it really matter that it is across the board). The bigger problem is that there is no way that the reduction in loopholes and deductions can cover that all. One thing with this that I have the most arguement with is that there can't be an assumption of growth to cover that difference.

    I don't mind taxes going up for everyone a little bit as long as that amount goes to pay the debt. The issue is that previousl administrations have run up the debt, and we need to start to fix it now. Cutting taxes doesn't do it. We need to look at both sides of the ledger to get things moving. Personally, deductions need to reviewed as well as regulations and what agencies can be combined for more effective government.

    October 11, 2012 12:27 pm at 12:27 pm |
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