Posted: Aug 1, 2012 3:22 PM
Source: Associated Press
MANSFIELD, Ohio - President Barack Obama says Republican Mitt Romney's economic plan would give tax cuts to the richest people in America at the expense of popular tax breaks for most everyone else.
On a campaign trip in Ohio, Obama said Wednesday that Romney's tax proposal would force many people to give up popular tax deductions that allow them to buy a house, afford health care and send their kids to college. Obama pointed to a new report that concluded Romney's economic plan would shift the tax burden from wealthy taxpayers to low- and middle-class taxpayers.
Said Obama to supporters: "He's asking you to pay more so that people like him can get a big tax cut."
A Romney spokesman said the Republican candidate believes lower tax rates would jump-start the economy.