Arab Today, arab today obama slams romney\s fairy dust tax cut
Last Updated : GMT 08:20:11
Arab Today, arab today
Arab Today, arab today

Obama slams Romney\'s fairy dust tax cut

Arab Today, arab today

Arab Today, arab today Obama slams Romney\'s fairy dust tax cut

Leesburg - AFP

President Barack Obama slammed Mitt Romney's "fairy dust" tax cuts, claiming his millionaire Republican foe would swell his own wealth while sticking the middle class with the bill. Romney hit back as he roared onto the campaign trail after a rocky overseas tour, as his camp decried the "sclerotic" Obama economy, hours before the release of crucial new data on job creation in the stalled recovery. In a punchy new personal attack ad running in battleground states, Obama said Romney would hike taxes on families with children by $2,000 to pay for his $5 trillion tax plan that would mostly benefit the wealthy. "You work hard, stretch every penny," the ad said, showing a picture of a man working at a desk and a woman comparing cans of tuna at a supermarket. "But chances are you pay a higher tax rate than him," the sonorous voice of the narrator said, as a picture of a smiling Romney, a former venture capitalist, flashed on screen. "Mitt Romney made $20 million in 2010 but paid only 14 percent in taxes -- probably less than you," the ad said, branding the former venture capitalist's approach as "He pays less. You pay more." The Obama camp is using Romney's bank balance, as well as his refusal to release more than two years of tax returns and complicated offshore accounting arrangements, to paint him as out of touch with the hard-pressed middle classes. Obama based his assaults on a survey released by The Brookings Institution that said plans like Romney's to lower rates and maintain tax breaks would spell "large tax cuts to high-income households, and increase the tax burdens on middle- and/or lower-income taxpayers." And the president linked Romney's plans to the policies of the former Bush administration, which he blamed for setting off the economic crisis in the first place. "They have tried to sell us this trickle-down tax cut fairy dust before," Obama said during a campaign trip to the battleground state of Virginia. "Guess what? We've seen this before. It didn't work then. It will not work now. It's not a plan to create jobs. It is not a plan to lower our deficit." Romney was in another swing state, Colorado, unveiling a report card which said Obama had failed, by several of his own economic measures, and bemoaned eight percent unemployment, shrinking home prices and shriveling wages. "All measures he laid out are measures that have gone in the wrong direction," Romney told some 2,000 people in Golden, just outside Denver, decrying Obama's record on job creation as "a tragedy" and "a moral failing." "His policies have not worked," said the former Massachusetts governor. "My policies will work, and I know that because they have worked in the past."Later, in an interview with conservative talk show host Sean Hannity, Romney declared "Help is coming" after laying out a plan for the middle class, stressing skills, energy production, trade, help for small business and deficit cuts. Romney has proposed cutting income tax rates by 20 percent, eliminating tax on investment income, getting rid of the estate tax and cutting the corporate tax rate. The Republican's campaign dismissed the Brookings tax study, describing its authors as partisan and saying it considered only half of Romney's tax platform. But the survey was prime ammunition for the Obama campaign's contention that if elected, Romney would further tilt the economy toward wealthy Americans at the expense of middle class voters still suffering from the recession. As Obama headed to Florida on Thursday, Democrats gleefully circulated a picture of the front page of the Tampa Bay Times newspaper bearing the headline: "Romney's plan will hit middle class." Romney paid an effective tax rate of 13.9 percent in 2010, according to returns he has released, because his income from investments was taxed as a capital gain rather than under high rates due for salaried income.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama slams romney\s fairy dust tax cut Arab Today, arab today obama slams romney\s fairy dust tax cut

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday