New Obama ad takes on Romney tax policies
July 31st, 2012
06:20 PM ET
10 years ago

New Obama ad takes on Romney tax policies

(CNN) - President Barack Obama's re-election campaign knocks Republican challenger Mitt Romney's vision for tax cuts and military spending in a new ad released Tuesday.

The 30-second spot, "Worried," begins with references to what could be interpreted as George W. Bush-era policies.

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"You watched, and worried," the narrator says. "Two wars. Tax cuts for millionaires. Debt piled up."

Transitioning to present-day, the narrator then says, "And now we face a choice."

With a photo of Romney on screen, the narrator adds the presumptive GOP nominee's tax plan would support a $250,000 tax cut for millionaires, citing a report by the Tax Policy Center.

The ad also argues Romney would increase military spending, while the campaign backs up their claim by pointing to a CNNMoney analysis showing Romney's plan would boost military spending by $2 trillion over the next 10 years.

The commercial also argues Romney's tax cut proposals would add "trillions to the deficit,” highlighting a study by the Center on Budget and Policy Priorities that finds the Romney plan would increase the deficit by approximately $5 trillion between 2014 and 2022.

Meanwhile, the ad says the president's proposed budget would reduce the deficit by $4 trillion through measures that include spending cuts and raising taxes on millionaires.

"I'm Barack Obama and I approve this message because to cut the deficit we need everyone to pay their fair share," the president says in the ad.

Obama's team is rotating a series of spots in an ad buy worth $5.3 million, running from July 21 to August 3.

The commercial released Tuesday will air in the battleground states of Colorado, Iowa, New Hampshire, Nevada, Ohio and Florida. Absent from the list are North Carolina and Virginia, two battleground states in which the Obama campaign has heavily advertised in the last six weeks-although the campaign has bought time in both of those states through Friday.

A campaign aide told CNN “we’ve been going heavier/lighter in various markets with our buys for the past couple months and we will continue to do so.”

A spokesman for Romney's campaign called the spot "ridiculous."

"This is a ridiculous ad coming from a president who shattered his pledge to cut the deficit in half by the end of his first term. Under Barack Obama, our nation has suffered from one trillion-dollar deficit after another, contributing to America's first-ever credit rating downgrade," spokesman Ryan Williams said. "President Obama's plans to raise taxes and cut the military won't create jobs or make us safer.

"As president, Mitt Romney will revive our economy, strengthen our military, and repair the damage done to the middle class by President Obama's failed policies," he continued.

- CNN Senior Producer Kevin Bohn contributed to this report.

Filed under: 2012 • Ads • Deficit • Military • Mitt Romney • President Obama • Taxes
soundoff (38 Responses)
  1. Wire Palladin, S. F.

    Mittens took a bigger tax deduction for his dancing horse than most Americans make in a year.

    July 31, 2012 06:22 pm at 6:22 pm |
  2. Wire Palladin, S. F.

    Mittens and the GOP can KMA if they think I will ever vote for liars, tax evaders, corporate raiders, jobs outsourcers, or rich plutocrats.

    July 31, 2012 06:26 pm at 6:26 pm |
  3. Wire Palladin, S. F.

    Mittens' plan is to give bigger tax breaks to the wealthy which will cost $5 trillion. He will then expect the seniors, poor and middle class to pay for it, so that only $3 trillion goes to the national debt.

    July 31, 2012 06:28 pm at 6:28 pm |
  4. Squigman

    Romney, is too robotic. He's been programmed, yet the hardware has glitches. Too many awkward speeches given, and too many facial expressions that are tell's about true feelings. Ask any poker player. He's too mechanical.

    July 31, 2012 06:43 pm at 6:43 pm |
  5. Thomas

    Romney dosn't need to do or show anything .

    Welcome to the new America corporate dictatorship.

    You people don't need to know !

    July 31, 2012 06:59 pm at 6:59 pm |
  6. LBAM

    Hit that potential tax evadeor hard Mr President. Hit him hard... By the way, ask him again for his Taxes. I demand to see his record on Bain, His Tax returns for the past 12 years and His documents from his time as Mass, governor. Uhmm! Those seem to be lost too..

    July 31, 2012 07:01 pm at 7:01 pm |
  7. Darryl

    Ya know, People can say the President is useing class war-fare and thats fine. This is America and when we have a catastrophic even as we did and it sucked financial system to the gutter along with the houseing market. The working class ( middle class ) and the poor went into the toilet. The wealthyest people made catastrophic profits financially. And when it's time to help put this country back on it's feet and pitch in, they feel they do NOT need to do so ? I say , if thats so, then mabe they should remove themselfs from this country in every aspect and live somewhere that fits their mind set. Mabe Iran, Pakistan somewhere like that. They control people there with money & power and supress everyone else.By the way this comment also includes Mr. & Mrs. Romney. The American Tax evaders not to mention avoiding to go fight for this country. Him and his sons !

    July 31, 2012 07:10 pm at 7:10 pm |
  8. California

    And this coming from the party that doesn't even pay it's taxes.

    July 31, 2012 07:12 pm at 7:12 pm |
  9. 1crusader

    Romney wants to let the wealthy off, while making the poor and middle class foot the bill.He wants to add money to defense spending, while cutting education, Medicare, Medicaid.All of this adds to the deficit-not reduces it.

    July 31, 2012 07:13 pm at 7:13 pm |
  10. Four and The Door

    "I'm Barack Obama and I approve this message because to cut the deficit we need everyone to pay their fair share," the president says in the ad.
    It has been proven that the wealthy Americans pay more taxes than everyone else. By far. But yes, you can find some wealthy who have the majority of their income by capital gains rather than paychecks and so in comparison it looks less. But these are special cases. In general, the wealthy are carrying the load for American taxpayers.

    My point? When Obama say's everyone needs to pay their fair share, the lower incomes need to know he is planning on coming after you with the same message next year. His Chief Economic Adviser has already said that. And you can see with his spending plans he needs to raise taxes across the board to keep spending so high. That's just what you get with Obama. Big, expensive government and the kind of economic growth we have seen in the last 3 1/2 years. Very low. So that 8% unemployment becomes the new normal. But we can do better. Romney 2012.

    July 31, 2012 07:13 pm at 7:13 pm |
  11. Gizmo

    There you have it. Ask me again why i should vote for Mittens?

    July 31, 2012 07:29 pm at 7:29 pm |
  12. They ought to change from the elephant to the hippo...

    Make sure to consider the costs of the wars Mitt will be happy to start...

    July 31, 2012 07:30 pm at 7:30 pm |
  13. California Gary

    Romney's plan will work like this: he will reduce taxes bigtime for the wealthy, but after they fill their Cayman Island bank accounts, he'll restore the original tax rates that he can pay for his expansion of the military, which he will then reduce retro-actively so that he can sustain it all for years to come. It will work......and if it doesn't, then he'll just retire retro-actively while continuing to draw his salary and that should square it with the American people. It's really a perfect plan......

    July 31, 2012 07:31 pm at 7:31 pm |
  14. charles

    That's right! Cite credible sources and show clearly what Mitt is all about. Either Mitt is doing a rope-a-dope or he's going to fall hard. I am willing to bet the latter.

    July 31, 2012 07:39 pm at 7:39 pm |
  15. Logic n LA

    Anyone that knows math can see R-money will put us deeper in debt while cutting more programs. The only sector that benefit by his Presidency are the very wealthy.
    Debt minus revenue = higher debt. Liars can figure but figures can't lie.

    July 31, 2012 07:42 pm at 7:42 pm |
  16. RKN

    Romney does not tell us HOW he will do this magic of cutting taxes, increasing military spending, reducing the deficit, and balancing the budget. But, he is willing to take credit for saving GM and blame Obama for Bush's wars and mistakes.
    Has Romney been paying attention?

    July 31, 2012 07:51 pm at 7:51 pm |
  17. Mike in Texas

    Romney is a beneficiary of a tax system that skews deductions for the uber rich. The deductions and loopholes Romney uses can only be used by select few. I have no doubt he didn't cheat on his taxes. What Romney is afraid of, is that his returns will show that he legally paid a very low tax rate and yet he wants to lower taxes even more and cut spending.

    It will show that even though he enjoys endless deductions he wants more at the expense of the rest of us.....middle and working classes and the poor and elderly so he and his buddies can enjoy more tax breaks.

    Why do you think the Koch Brothers and Sheldon Adelson are pumping millions of dollars into this election? They want a President who will give them more and more and more.

    These guys are not "job creators". Job creators are the small business owners who aren't uber wealthy. Corporations don't hire people unless demand dictates it. Taxes are at an all time low, so why aren't companies hiring?

    July 31, 2012 07:56 pm at 7:56 pm |
  18. GonzoinHouston

    This isn't real complicated. W slashed taxes with the idea that it would grow the economy. It didn't. All it grew was the debt. Romney wants to slash taxes even more with the idea that this time it really would grow the economy. Anybody want to guess what might be the actual result?

    July 31, 2012 08:03 pm at 8:03 pm |
  19. Mike in Texas

    Mitt Romney has only announced he wants to cut taxes by an additional 20% on top of the Bush tax cuts. In addition he wants to increase military spending and balance the budget.

    Frankly put, the math is impossible. But Mitt is good at this. Long on criticism, long on rhetoric, long on vague talking points and short on details.

    He won't tell us what he will cut until after he is elected.
    He won't tell us what specific plans he has to create jobs.
    He won't divulge more tax returns.
    He won't run on his record at Bain.
    He won't run on his record as Governor.
    He runs away from his Health Care Act.
    He is a coward who won't stick up the lunatic right of his party for fear of losing their support even though they hate him but not as much as they hate Obama.
    He buys up the state computers so to not leave a trace of anything.
    He increased fees in Massachusetts hitting the middle and working class.

    The only reason he wants to be President is because he wants to be President. Plain and simple. And he will do or say anything to achieve that goal.

    July 31, 2012 08:03 pm at 8:03 pm |
  20. Internet Child

    $2 trillion increase? Did they count the cuts to defense under Obama? Pretty sure it's a net decrease.

    July 31, 2012 08:06 pm at 8:06 pm |
  21. skarphace

    "repair the damage done to the middle class by President Obama's failed policies."

    Wrong. The damage was already done. The economy was in a tailspin and headed for a depression. It has since stabalized. The market was tanking. It has since recovered. You cannot blame Obama for the great recession. You can only blame him for the sluggish recovery.

    However, even Republicans agree that we are in a period of recovery, even if they blame Obama for the fact that the recovery is not happening fast enough. If Romney is elected, you can be sure the middle class will suffer once again. His policies favor the wealthy at the expense of the working class. If you cannot see that, then you do not want to see it.

    Romney: Obama's polcies were "contributing to America's first-ever credit rating downgrade."

    I am sorry, but most Americans have been paying attention and know that our credit rating was downgraded because of the fiasco that almost caused the debt ceiling not to be raised, which would have caused us to default on our debts. The politicians responsible for the debt ceiling hostage crisis were the Norquist Republicans (they who call themselves the Tea Party).

    July 31, 2012 08:08 pm at 8:08 pm |
  22. ThinkAgain

    A former Bain Capital associate of Mittens has claimed that the reason Mittens won't release his tax returns prior to 2010 is because HE DIDN'T PAY ANY TAXES FOR 10 YEARS.

    This is Mittens' idea of "believing in America" ....

    July 31, 2012 08:17 pm at 8:17 pm |
  23. Larry L

    Romney fails to give any specifics for healthcare, defense increases, or tax cuts. He won't say where he'll get the money. He did say he supports the Ryan budget plan – including "vouchers" for Medicare and "investment options" for Social Security – all headed into the pockets of Romney's Wall Street buddies. He's a draft-dodging chicken-hawk and a war with somebody would be a certainty – a Republican tradition.

    July 31, 2012 08:31 pm at 8:31 pm |
  24. Charlotte

    Romney seems to be laboring under the delusion that just because he is filthy rich, he somehow has the skills to be POTUS. Unfortunately there are a lot of non-thinking people who are buying into this myth, simply because they don't like the color of Obama's skin. And this racial hatred is fueled very carefully and nonstop by the likes of Fox News and Rush Limbaugh, who are the only sources of political "information" these people ingest. Ironic that they are the very ones who will be hurt the most in a Romney presidency. How can they support this guy??? It's as terrifying as the specter of a Sarah Palin as VP. Really sad that the corporate interests are feeding so many lies to these ignorant voters, who don't even have the mental resources to consider other perspectives. Most of the corporations are multinational, too – which means other countries are now influencing our elections. This ought to be forbidden. This last point – no matter what you think of Romney or of Obama – should be deeply, deeply disturbing to every single American.

    July 31, 2012 08:38 pm at 8:38 pm |
  25. Myviewis

    Unfortunately we cannot trust the study by the Center on Budget and Policy Priorities since they accepted funding from George Soros in the amount of 3.7 million and as we all know George Soros funds leftist organization therefore their study is not indepedent but is influenced by Democrat policies.

    July 31, 2012 08:57 pm at 8:57 pm |
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