Today President Obama will push for letting the Bush tax cuts for those making over $250,000/year expire. Before he even addressed his plan. Mitt Romney has already fired back with this:
President Obama’s response to even more bad economic news is a massive tax increase. It just proves again that the President doesn’t have a clue how to get America working again and help the middle class. The President’s latest bad idea is to raise taxes on families, job creators, and small businesses. Almost half a million fewer Americans are working today than the day Barack Obama took office, and we’ve just come through the worst job creation quarter in two years. Unlike President Obama, Governor Romney understands that the last thing we need to do in this economy is raise taxes on anyone. He has a plan to permanently lower marginal rates, help middle-class Americans save and invest, and jumpstart economic growth and job creation.”
Those families, job creators and businesses Romney is so concerned about accounts for less than 2% of the total tax base. Over 95% of small businesses make less than $250,000/year, but Romney isn’t worried about those. Instead Romney would rather see taxes go up for 98% of us, while cutting taxes for the other 2%.
It’s all part of the “tax and spend” Republican platform we have become so accustomed too. We saw it under Bush and we’ll see it again under Romney.