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Obama Moves for Middle Class Tax Cuts

by / July 9, 2012 World News one Comments

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In an effort to show how Republican candidate Mitt Romney focuses on the interests of the rich, Obama is working to create tax cuts for the middle class. Obama will be fighting for a tax cut extension of one year for households that make less than a quarter of a million dollars. Obama is not interested on creating more tax cuts for the rich, much unlike Romney who would like to keep tax cuts for everyone that earns an income. So where does he expect the money to come from?

Economists fear that across-the-board tax increases will blow the economy. Obama campaign advisor Robert Gibbs says, “We have to continue to grow our economy. We have to grow it from the middle class out, but for millionaires and billionaires, they don’t need a tax cut. We’re going to have to make some tough choices in this country. We can’t continue to spend the kind of money that was spent in the last decade.”

Obama’s efforts to show how different Romney (who sits on a net worth of a quarter-billion dollars) cannot relate to the middle class constituents. Romney’s spokeswoman, Andrea Saul, contests Obama’s actions, claiming that Obama soes not know how to get the economy back on track. Romney’s  fundraising initiatives raised 106 million dollars in June, where Obama’s totals are still unknown.

 

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monique

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  1. Tax increases across the board may blow the economy. By providing more money for the country as a whole? I am not enitrely in tune with these economists.

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