Obama ad on Romney’s tax plan: he pays less, you pay more

August 2, 2012

President Barack Obama’s campaign on Thursday released a new television advertisement hitting Republican presidential hopeful Mitt Romney for paying what it considers to be a low tax rate in 2010 and for pushing a tax plan that could most benefit Americans earning more than $1 million per year.

The 30-second spot features a montage of ostensibly “average” Americans — one comparing prices at the grocery store, another scrutinizing a work report, another sifting through bills at the kitchen table — and then flashes to a grinning Romney.

“You work hard, stretch every penny, but chances are you pay a higher tax rate than him,” the narrator says, referring to Romney’s 2010 tax rate of 13.9 percent and 2011 estimated tax rate of 15.4 percent.

Romney, who made his fortune founding and growing Bain Capital, released tax information from 2010 and a draft of his 2011 returns after being chided by Republican rivals during the contentious Republican primary. The Obama campaign has since taken up the issue in television ads and messaging.

In response, Romney has said that Obama demonizes capitalist success and wants to divert attention away from the sluggish American economy and roughly 8 percent unemployment — seen as the Democrat’s chief weaknesses as he runs for re-election in November. Releasing more returns would just provide more fodder for distorted attacks, Romney has said.

In that vein, Romney’s campaign again attacked Obama on Thursday in an online video for comments he made about government’s role in the private sector that Romney says is anti-business.

“We need a president who understands business, who understands what it means to make payroll …. to grow a business and to be successful,” the owner of an office products company in Virginia says in the ad, adding that she was “insulted” by Obama’s comments.

Obama’s advertisement, which will run in battleground states such as Virginia, Florida, Ohio, and Iowa, came after the non-partisan Tax Policy Center made a splash with a report it released on Wednesday showing that Romney’s tax plan would most benefit America’s wealthiest taxpayers. The Romney campaign dismissed the analysis as inaccurate and biased.

Although Romney’s plan would cut the tax rate for all Americans, to pay for those cuts Romney would also have to cut popular tax breaks — such as a mortgage interest deduction and a deduction for health insurance plans provided by employers — which would disproportionately hurt middle-class Americans, the TPC said.

Photo credit: President Obama waves as he walks past the Marine One helicopter on the South Lawn of the White House upon his return to Washington after a one-day trip to Ohio, August 1, 2012. REUTERS/Yuri Gripas


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Mr. Romney–

When you vet your vice presidential candidates, is it going to matter if they refuse to disclose their back income tax for more than a year? How ’bout if the people you’re interviewing refuse to tell you whether or not they owned a gigantic, multinational company? Would you brush that off and find it “amusing”? What if more than a hundred contradictory legal documents emerged concerning their past lives? Would that be all “you people” needed to know?

Posted by Siara | Report as abusive

Obama’s jobs plan … erra 4 years later 14 million people unemployed – only Obama’s math = 20% reduction makes the middle class pay more – dont forget Obama’s math gave Solyndra half a billion for free, GM hundreds of billions at 50% payback (which billions still have not been paid back) and Chrysler paid 1/3 of the value of the hundreds of billions they were given by the Obama administration of our money – Romney’s tax plan states 20% reduction for everyone which will include 20% reduction if not more in government meddling in our lives

Posted by justinolcb | Report as abusive

Obama genuinely dislikes successful people. He does not like the American values of work hard and be successful. His rhetoric is pure class warfare of look at that other guy, he has more than you, let’s go take that away from him because he doesn’t deserve it. He didn’t earn it. Even if you taxed “the rich” at 100% it would not put a dent in the out of control spending of the government so how is this his battle cry? Tax the rich, feed the poor, till there are rich no more. Then what? As Greece has found out, you soon run out of “Other People’s Money”. The size of the government and spending is the problem not the envy of your neighbor’s success. We are $16 Trillion in debt because of spending, not because your neighbor worked hard and became successful.

Posted by Levendi | Report as abusive

If you make 100,000 or 1,000,000 or 10,000,000 a year, you are poor to the Mitt Romneys of the world.

If you’re not interested in the 0 to 4% taxes they pay a year, the off shore accounts and the plan to cut their taxes even more, you are just a fool.

I make a great living and I want to see those returns.

Posted by contrariannut | Report as abusive