EXCERPTS: President Obama’s Remarks at a Grassroots Event in Mansfield, Ohio
CHICAGO -- Today, at a grassroots event in Mansfield, Ohio, President Obama will highlight a new report from the Tax Policy Center – a nonpartisan policy think tank -- that concludes that Mitt Romney would have to raise taxes on millions of middle-class families with children by more than $2,000 to pay for his $5 trillion tax plan tilted to the wealthiest.
Below are excerpts of his remarks as prepared for delivery --
“And yet, the centerpiece of my opponent’s entire economic plan is a new, $5 trillion tax cut. A lot of this tax cut would go to the wealthiest 1% of all households. Folks making more than $3 million a year – the top one-tenth of one percent – would get a tax cut worth almost a quarter of a million dollars. A quarter of a million dollars.
“But it gets worse. Under my opponent’s plan, guess who gets the bill for these $250,000 tax cuts? You do. And you don’t have to take my word for it.
“Just today, an independent, non-partisan organization ran all the numbers. And they found that if Governor Romney wants to keep his word and pay for his plan, he’d have to cut tax breaks that middle-class families depend on to pay for your home, or your health care, or send your kids to college. That means the average middle-class family with children would be hit with a tax increase of more than $2,000.
“But here’s the thing – he’s not asking you to contribute more to pay down the deficit, or to invest in our kids’ education. He’s asking you to pay more so that people like him can get a tax cut.”