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Romney: Obama tax plan 'another kick in the gut to the middle class'

 

Mitt Romney rejected President Barack Obama's renewed proposal to let tax cuts for the wealthiest households expire at the end of the year, calling it "another kick in the gut to the middle class."

The presumptive Republican presidential nominee dismissed the president's call for Congress to act to preserve existing tax rates for most households through legislation to extend all the expiring Bush-era tax cuts for households earning less than $250,000 per year.

"what the president is purposing is a massive tax increase on job creators and small business. Small businesses are overwhelmingly being taxed not at a corporate rate, but at the individual tax rate. So successful small business will see their taxes go up dramatically and that will kill jobs," Romney said on the John Fredericks Show.

"That will be another kick in the gut to the middle class in America. We just saw a terrible jobs report just last week, and now to add a higher tax on job creators and on small businesses is about the worst thing you can do to create jobs," Romney added, echoing his rhetoric in response to that lackluster jobs report last month.

Republicans, including Romney, have largely rejected Obama's proposal out of hand as an election year tactic, and one that threatens a tax hike at that.

Obama himself noted that this fall's presidential election between himself and Romney is more likely to dictate the future of these tax cuts.

"In many ways, the fate of the tax cut for the wealthiest Americans will be decided by the outcome of the next election," the president said in his White House statement. "My opponent will fight to keep them in place. I will fight to end them."