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  • 3
    Aug
    2012
    2:06pm, EDT

    Romney: 'I have paid taxes every year'

    By NBC's Alex Moe
    Follow @AlexNBCNews

     

    LAS VEGAS -- Mitt Romney said Friday that he has paid taxes "every year," vigorously disputing an assertion by Senate Majority Leader Harry Reid (D-NV) that the presumptive Republican presidential nominee paid no income taxes for a decade.

    “Harry Reid really has to put up or shut up,” Romney told reporters following a rally here.

    “Let me also say, categorically, I have paid taxes every year. And a lot of taxes. So Harry is simply wrong and that is why I am so anxious for him to give us the names of the people who put this forward. I wouldn’t be at all surprised to hear the names are people from the White House or the Obama campaign or who knows where they are coming from,” Romney added.

    Romney's heated words toward the Senate's top Democrat follows Reid's repeated assertion this week that an investor in Romney's former firm, Bain Capital, confided that Romney had paid no taxes for 10 years. Reid hasn't substantiated the claim, nor has he identified his source, but that hasn't stopped the claim from advancing.

    Reid wouldn't back down on Friday, either, issuing a statement calling for the release of more of the presumptive GOP nominee’s tax returns.

    Rick Wilking / REUTERS

    Republican presidential candidate Mitt Romney makes a point at a campaign event in Golden, Colorado August 2, 2012.

    "Romney's message to Nevadans is this: he won't release his taxes, but he wants to raise yours,” Reid’s statement said. "It's hard to say which is more insulting to Americans' intelligence, Mitt Romney's tax plan or his refusal to show the American people what's in his tax returns.”

    But asked why Romney won’t just release more of his tax returns to silence the attacks, the former Massachusetts governor said he is just following suit.

    “I’m following the precedent set by the last presidential candidate of our party, John McCain, putting out two years of income tax returns and putting out a financial disclosure statement, those as required by law, of course,” Romney said.

    Speaking to reporters during his first stateside press conference since last month's jobs report, Romney said these attacks by the Senate majority leader – in addition to those by President Barack Obama – are not what the country should be focusing on right now.

    “I had hoped it would be a debate on the direction of the country but what we are seeing instead is one attack after the other that are misleading, false attacks,” he said. “The president’s ads saying I am going to raise taxes on the middle class. That’s patently, simply false. The president has now raised taxes on the middle class as so determined by the Supreme Court.”

    2861 comments

    "The president has now raised taxes on the middle class as so determined by the Supreme Court."

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  • 3
    Aug
    2012
    12:32pm, EDT

    Obama says more to be done on jobs, as Romney decries 'suffering'

    By Michael O'Brien, NBC News
    Follow @mpoindc

     

    There are still too many Americans looking for work, President Barack Obama said Friday in reaction to July's jobs numbers, renewing his demand that Congress extend expiring tax cuts for most U.S. households.

    Presumptive Republican nominee Mitt Romney, speaking at the same time in the swing state of Nevada, highlighted a report showing the economy added 163,000 jobs in July as an indictment of the president's economic policies.

    "These numbers are not just statistics," Romney said. "These are real people, really suffering, having hard times."

    The monthly report by the Bureau of Labor Statistics has assumed a heightened level of political significance for an election in which the economy and jobs is the top issue. While job creation in July matched private forecasters' estimates, the unemployment rate ticked upward to 8.3 percent.

    Pablo Martinez Monsivais / AP

    President Barack Obama talks about taxes, Friday, Aug. 3, 2012, in the Old Executive Office building of the White House complex.

    Obama hailed the positive jobs figures in the report and argued his administration had presided over the creation of 4.5 million jobs since January of 2009.

    "But let's acknowledge: we've still got too many folks out there who are looking for work," he said at the White House. "We've got more work to do on their behalf."

    The president used the occasion to push again for lawmakers to renew the so-called "Bush tax cuts" for households with incomes under $250,000 per year, and individual income under $200,000. The Democratic-held Senate passed a bill to that effect last week, but House Republicans defeated it in a vote on Wednesday.

    Without referencing Romney specifically, Obama pointed to a report issued by the nonpartisan Tax Policy Center, which argued a plan like the presumptive GOP nominee's would effectively raise taxes on the middle class since a number of deductions favored by middle class households could be eliminated. (The Romney campaign called this report a "joke.")

    "The people standing behind me should not have to pay more so the wealthiest can pay less," Obama said in reference to a group standing behind him during his remarks. "That's not top-down economics, that's upside-down economics."

    The dueling presidential candidates' rhetoric served as a case study, though, of the alternative interpretations of July's new employment figures.

    Romney, in a statement earlier in the morning and in his Las Vegas-area remarks, called the jobs report "another hammer blow" for the middle class.

    Speaking at the Executive Office Building in Washington D.C., President Obama talks about the July jobs numbers, and urges the House to pass pending tax cut legislation.

    The former Bain Capital executive stressed his private sector experience as a chief qualifier, and went so far as to promise the creation of 12 million jobs during his first term should he be elected.

    The setting in Nevada, which has been among the hardest-hit states in the recession and where the housing market has struggled to recover, was no accident for Romney. Nevada is set to be one of the handful of states that could determine the Electoral College winner in November.

    Romney's speech also allowed him to relitigate Obama's "you didn't build that" gaffe from last month, in which the president seemed to suggest that business owners owed some of their success to the government.

    "The president has said we’re taking him out of context, but then you go look at the rest of his speech -- it’s on YouTube -- the context is worse than the quote," Romney said, earning him some of the loudest applause from the crowd.

    2341 comments

    172,000 jobs were created in July. Say it. That was very good. Too bad that Republican Governors axed 9,000 Governoment jobs. Drip, drip, drip, they figure they will just keep whittling away at employment gains as much as possible before the election.

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  • 2
    Aug
    2012
    12:16pm, EDT

    Romney will 're-introduce' policy plans to voters this fall

    By Michael O'Brien, NBC News
    Follow @mpoindc

     

    Voters and reporters looking to Mitt Romney for new jobs proposals or additional details about his existing plans shouldn't expect many, the presumptive Republican nominee's aides said Thursday.

    Most of Romney's fall campaign will involve "re-introducing a lot of the policy that came out a year ago," Romney senior adviser Eric Fehrnstrom said on a conference call with reporters. The reason for that, he explained, was to remind them "of the governor's very detailed policy" now that voters are playing closer attention to the campaign.

    The conference call was organized to outline the jobs policies about which Romney will speak today in Colorado. But the five priorities mentioned on the conference call -- energy, trade, education, cutting the deficit, and freeing up businesses from regulation -- have generally been staples of the former Massachusetts governor's campaign for much of the past year.

    Kacper Pempel / REUTERS

    Republican Presidential candidate Mitt Romney delivers foreign policy remarks at the University of Warsaw Library in Warsaw July 31, 2012.

    The question of specifics, though, has been one that has plagued the Romney campaign -- and it's not only Democrats who have voiced this criticism.

    "The Romney campaign thinks it can play it safe and coast to the White House by saying the economy stinks and it's Mr. Obama's fault," the Wall Street Journal's right-leaning editorial board wrote in early July. "Thanks, guys, but Americans already know that. What they want to hear from the challenger is some understanding of why the President's policies aren't working and how Mr. Romney's policies will do better."

    But the Romney campaign has generally brushed off these complaints as imprudent politics. Boston has clearly broadcast that they are satisfied with the plans they have offered. ("He doesn’t need to lay out new policies," Wisconsin Rep. Paul Ryan, a surrogate of Romney's and potential running mate, told National Review Online earlier this week.)

    The Romney campaign has been generally opaque in its approach to several issues that could conceivably expose their candidate to scrutiny, which could distract from their central narrative about Obama and the economy. For instance, the campaign's refusal to detail which tax deductions Romney would favor eliminating – to show how he’d prefer to balance the budget – mirrors his refusal to release more than two years of tax returns, to detail his exit from Bain Capital, or to lay out how his administration would be more transparent than Obama’s.

    On each question, though, the Romney campaign has left open a void of detail, and the Obama campaign and Democrats have gladly stepped in to fill it.

    The president himself trumpeted a report from the nonpartisan, independent Tax Policy Center about Romney's tax plan.
    The study concluded that, based on the available details about Romney's plan, that it would threaten a higher tax burden on the middle class, because it disproportionately takes advantage of exemptions that would be eliminated to finance tax reform.

    But the enduring story of the Romney campaign is its conclusion early in the campaign that little else will matter on election day aside from voters' conclusion about Obama's handling of the economy. They've bet that the broad contours of Romney's policy contours will be enough to sway voters, and that they can weather criticism about the specifics without any of that becoming fatal.

    "That report you referenced is a joke," Fehrnstrom said of the center’s report on the call. "There are serious problems with the authorship of that study, and the methodology."

    One of the authors was an economic adviser member of Obama’s Council of Economic Advisers. But the other was the senior staff economist on President George H.W. Bush’s Council of Economic Advisers.

    "The governor's plan essentially lays out the parameters that he wants to achieve," Jonathan Burks, the Romney campaign's deputy policy director, said on the call. "And within that, he would write a tax bill that achieves those goals. And so it's not a question of today, you know, we've got a 2,000-page tax plan that could be scored and demonstrated ... The details of how that would be accomplished would have to be worked out with Congress."

    Republicans are quick to note that President Obama has offered few detailed proposals for his second term, and argue that the "American Jobs Act" first introduced by the White House last fall is only a re-hash of old policies.

    But the Romney campaign's bet that it doesn't need to offer more detail opens the door to the Obama campaign and Democrats' efforts to turn the election into a choice between the president and Romney, even if it involves mischaracterizing elements of Romney's background – or inserting policy details that don’t exist -- that the GOP candidate won't define for himself.

    Senate Majority Leader Harry Reid (D-NV) made an especially specious claim in that vein when he told the Huffington Post this week that a Bain investor -- who he did not name -- told him that Romney had paid no effective tax rate for a decade.

    Fehrnstrom angrily condemned that suggestion during an appearance Thursday on Fox News, but there are no indications that the evidence Romney could offer to rebuff those charges will be publicly available anytime soon.

    NBC's Jay Rankin and Garrett Haake contributed.

    562 comments

    Mittens, we ALREADY know your policy, rob the poor for the benefit of the rich, treat the treasury like it is your own personal piggy bank for you and your wealthy friends, and explode the deficit. If you can work in a war or two or three, so much the better!

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  • 1
    Aug
    2012
    6:20pm, EDT

    House votes to extend current tax rates after shooting down Obama plan

    By Michael O'Brien, NBC News
    Follow @mpoindc

     

    The House on Wednesday evening rejected a proposal to allow tax cuts on the wealthy to expire, instead passing an alternative bill to preserve existing tax rates for a year, an act of political theater setting up a contentious post-election fight.

    The Republican-controlled House voted 256 to 171 to preserve current tax rates, which were first enacted by President George W. Bush in 2001 and later extended in 2010 for another two years with President Barack Obama's support.

    In a separate vote, the House shot down, 170 to 257, a Democratic bill to extend current tax rates past the end of this year only for households earning less than $250,000 per year and individuals earning less than $200,000 per year. This plan has the current backing of the president, and was approved last week by the Senate. Nineteen Democrats joined a unanimous GOP conference on the vote.

    The vote virtually ensures that the fate of the expiring tax cuts won't be decided until after the election. Though House GOP leaders wrote Senate Democratic Majority Leader Harry Reid on Wednesday to say they "stand ready to bring the House back into session for the purpose of enacting solutions" as it relates to taxes or the automatic defense cuts set for Jan. 1, leaders in both parties have conceded that a truce unlikely.

    The House is set to break for recess after Thursday's votes, leaving few legislative days left on the calendar before the election.

    Rather, leaders in both parties have generally acknowledged that the fate of the tax cuts are likely to be determined as an outgrowth of the election. That factor has only heightened the political positioning of these votes, which were orchestrated more as a messaging instrument than as a legislative solution.

    To that end, the result in the House was the reverse of what happened last week in the Senate, which approved a version of the Democratic bill and rejected the Republican alternative to extend all the expiring tax cuts for a year and require Congress to work on tax reform in the meanwhile.

    Senate Republicans dropped procedural objections to the Democratic bill -- which would extend current tax rates past the end of this year only for households earning less than $250,000 per year and individuals earning less than $200,00 per year -- as a way of putting rival lawmakers on record in support of a tax hike heading into an election season.

    The Senate voted 51-48 in favor of that proposal, though two retiring senators -- Virginia's Jim Webb, a Democrat, and Connecticut's Joe Lieberman, an independent who caucuses with Democrats -- sided with Republicans.

    President Obama spent much of the day on the campaign trail railing against his Republican opponent's tax plan.

    "He's asking you to pay more so that people like him can get a big tax cut," the president said of presumptive Republican presidential nominee Mitt Romney's tax plan during a stop today in Ohio. "In order to afford just one $250,000 tax cut for somebody like Mr. Romney, 125 families like yours would have to pay another $2,000 in taxes each and every year."

    Romney has said he supports extending the Bush tax cuts, so as to enable broader tax reforms in the next Congress.

    "Keep the taxes in place that we have," he told CNBC's Larry Kudlow last month. "And then I would like to reform our tax code by bringing the rates down across the board for everybody."

    1858 comments

    Romney wants to reform the tax code? How about Romney show voters how he does his taxes. Before we give him control of ours taxes.

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  • 31
    Jul
    2012
    1:32pm, EDT

    From Bain record to tax returns, Romney eager to put summer behind him

    By Michael O'Brien, NBC News
    Follow @mpoindc

     

    Mitt Romney is betting on having already survived the worst personal scrutiny the Obama campaign has had to offer, leaving him with enough leftover political clout to wage an offensive this fall that would manage to unseat the president.

    After offending Britons with comments about the Olympics, Mitt Romney continues to face criticism over remarks he made about Israelis and Palestinians. Meanwhile, he wraps up his  trip abroad with a visit to Poland. NBC's Peter Alexander reports.

    With 98 days until the election, the Romney campaign believes the dog days of summer are essentially behind them. The campaign views controversies involving his tax returns and work at Bain Capital as having a short shelf life, and the presumptive Republican nominee’s work to capitalize on the president’s “you didn’t build that” gaffe have effectively changed the subject. Romney’s foreign trip had also been built up as an opportunity to pivot away from July’s struggles, though momentum from the trip was more mixed due to stumbles on each of its three legs.

    “Our whole goal was to just hold our own over the summer,” said Bay Buchanan, an outside adviser to the Romney campaign. “We've done the warm-up, and we're coming into the convention with a much better position than anticipated.”

    But Democrats assert that the Republican shouldn’t be so quick to assume that the attacks based on Romney’s career and personal wealth will disappear.

    Recommended: First Thoughts: Judging Romney's overseas trip

    The first few weeks of July saw an unrelenting and coordinated offensive against Romney, led by the Obama campaign and a variety of Democratic groups. The former Massachusetts governor weathered weeks of ads accusing his private equity firm of having moved jobs overseas during Romney’s time in charge. To make matters worse, Romney had been somewhat opaque about the exact time of his departure from Bain Capital, and had also refused to release additional years of tax returns – leaving him vulnerable to speculation about what those hidden records contained.

    The Romney campaign’s steadfastness in the face of scrutiny prompted semi-public handwringing among GOP poobahs, who wondered whether the GOP candidate was essentially allowing the president to define him.

    Obama’s comments at a campaign stop in Roanoke, in which he seemed to suggest that business owners don’t deserve all the credit for their successes, handed the Romney campaign a chance to reverse momentum. Republicans have been hitting it hard since then, and the president even released an ad personally responding to the attack.

    “You don't always want your candidate out there responding to everything they're saying,” said Buchanan. “We want him, Barack Obama, responding to us.”

    Combined with anemic jobs numbers at the beginning of the month and a somewhat lackluster GDP report last week, Republicans believe their narrative on the economy is hardening and Romney remains strong enough to subsume Obama this fall.

    NBC's Brian Williams interviews Republican presidential candidate Mitt Romney on a wide range of topics including the Olympics, gun control, education, taxes and religion.

    This all sets the stage for a pivotal month of August, in which Romney must introduce himself to voters and begin turning the tide against Obama.

    It just might be the case that July’s squabbles, though, will set the parameters for the fall debate.

    “It’s wishful thinking on the part of the Romney to think it's behind them. They might survive it, but it's not behind them,” said former Rep. Martin Frost of Texas, a Democrat known for his strategic acumen.

    Frost said that if he were Romney, he wouldn’t release additional tax returns beyond what’s already been pledged – for fear that there were years in which the former Bain leader paid little to no taxes.

    “The Romney people are whistling in the dark if they think the Bain thing will go away,” Frost added.

    Related: Romney says he wasn't talking about Palestinian culture

    Former Democratic National Committee Chairman Howard Dean was starker.

    “This is going to be the issue that brings him down,” he said, arguing that the attacks on Bain and Romney’s taxes cut to the core of questions about Romney’s character and trustworthiness.

    Dean argued that even Romney’s best message on the economy won’t sink in with voters unless they’re willing to put faith in the former Massachusetts governor as Obama’s alternative.

    “He could have turned this into something really good. But as long as he’s got his tax returns hidden, it’s going to be fatal,” Dean said, referencing in particular the Republican assault on Obama’s “You didn’t build that” comments. “What Romney is doing is negating his advantage on the economy by not seeming trustworthy.”

    But Romney’s team is almost zenlike in its singular focus on the economy. Though much of the past week was dominated by the Republican’s foreign policy tour – for both its embarrassing moments and triumphs – attention will soon turn back to the economy. This Friday’s report on job creation during July could give Romney a cudgel to use against Obama, and the impending selection of a Republican vice presidential candidate and next month’s Republican convention would allow the GOP to drive the campaign narrative into September.

    “Once we turn that corner where we can get past the explanations about Bain – and I think we have – then it's a winning campaign,” said Buchanan, who said that the drumbeat for Romney to offer more specific policy alternatives to Obama were “secondary” to convincing voters that his vision on the economy is superior to Obama’s.

    Presumptive Republican presidential nominee Mitt Romney had another diplomatic misstep – this time in Israel. The Romney campaign pushed back, disputing the reporting of Romney's comments. NBC's Peter Alexander reports.

    “We're going to hit the economy, stay on message the full extent we can. But we're not running in a vacuum. The other guy's going to be going after us personally,” she said. “You get your surrogates to respond to the personal stuff. They've hit us pretty hard, I don't know where else they're going to come.”

    That might be music to the ears of the president’s team and most Democrats if their strategy on making the election into a choice – and disqualifying Romney in the process – is to be believed.

    “I’ll say one thing about Obama, whatever my differences with him. He’s run the best campaign I’ve ever seen a Democrat run in my lifetime,” Dean said.

    “Romney’s tried to keep this thing on the economy since March and he hasn’t succeeded. What makes you think he’s going to succeed the next three months?” he added.

    3669 comments

    "Why doesn't the public know Willard Romney better?" Willard Romney Olympics documents aren't being released for the public to view. Why? Willard Romney is not being honest about his time at Bain Capital. Why?

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  • 26
    Jul
    2012
    4:34pm, EDT

    House GOP will allow show vote on Obama's tax proposal

    By NBC's Frank Thorp
    Follow @FrankThorpNBC

     

    House Republicans will allow a vote next week on the Democrats' bill to extend the expiring Bush tax cuts for households earning less than $250,000, House Speaker John Boehner (R-OH) announced Thursday.

    Boehner said that Republicans were "more than happy" to bring to a vote the Democratic bill, which passed through the Senate on Wednesday in a narrow 51-48 vote.

    The Democratic legislation extends the tax rates established by the President George W. Bush in 2001 and 2003 (referred to by many as the  “Bush tax cuts”) for only those households making $250,000 or less; tax rates for the highest income group would be allowed to spring back to their rate at the beginning of 2001.

    Republicans will couple a vote on their own tax bill, which would extend the rates across the board for another calendar year, with the Democratic bill. These tax cuts were first set to expire at the end of 2009, but President Obama agreed with Republicans on legislation to extend the rates for another two years.

    "If our Democrat colleagues want to offer the president's plan or the Senate Democrats' plan, we're more than happy to give them a vote," Boehner said.

    Republicans are eager to allow a vote because the Democratic legislation is expected to fail in the GOP-led House. The Republican bill will likely pass, though neither bill will likely advance to the president's desk. Rather, both votes are largely for show and intended to put the other side's lawmakers on the record on taxes.

    The battle over extending current tax rates equals nothing more than a common messaging war that both sides are happy to fight leading up to November's elections. Republicans want to be able to paint Democrats as trying to raise taxes on small business owners, while Democrats argue that Republicans want to give tax breaks to the richest Americans.

    “The only thing standing in the way of a middle income tax cut is the House Republicans,” House Minority Leader Nancy Pelosi (D-CA) told reporters today, “The Republicans want to spend hundreds of billions on an extra tax cut for people making over $250,000 a year.”

    Obama echoed that call today, telling reporters that “the only thing that is going to prevent the vast majority of Americans from not seeing a tax increase next year is if the House doesn't act.”  Obama said that he and his cabinet members will continue to make that point in the coming days.

    Both sides have conceded privately that this is a fight that will likely go down to the wire, when the Bush tax cuts are scheduled to expire on January 1, 2013. In the weeks before that deadline, Congress will need to address a number of issues that, taken together, have been deemed the “fiscal cliff” because of the potentially devastating consequences they could have on the economy if Congress does not act. 

    In addition to addressing the scheduled expiration of the Bush tax cuts, Congress needs to reallocate automatic cuts scheduled to take effect as a result of the deficit Supercommittee’s failure last year. Because of their failure, automatic cuts to defense and non-defense agencies could result in an estimated 2 million jobs lost in 2013, a potentially massive blow to an already struggling economy.

    In a speech at the Brookings Institution last week, Sen. Patty Murray (D-WA) threatened to use the extension of the tax rates as a bargaining chip going into year-end negotiations, which will also include the expiration of the payroll tax cut, as well as a fight over funding the government and raising the debt ceiling.

    Murray says she could see a scenario in which Democrats allow all the tax cuts to expire, in an effort to put Republicans' feet to the fire so that they raise revenue to address the nation’s deficit. 

    “If middle-class families start seeing more money coming out of their paychecks next year — are Republicans really going to stand up and fight for new tax cuts for the rich?,” Murray said in the speech, “Are they going to continue opposing the Democrats’ middle-class tax cut once the slate has been wiped clean?”

    143 comments

    House GOP will allow show vote on Obama's tax proposal

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  • 25
    Jul
    2012
    5:23pm, EDT

    Senate passes middle class tax-cut extension

    By Libby Leist, NBC News

    In a purely political exercise this afternoon in the Senate, Senate Democrats narrowly passed a bill 51 to 48 to extend Bush-era tax cuts for middle class Americans for another year. With Vice President Biden presiding over the Senate, Democrats lost only two votes: Sen. Jim Webb (D-Va.) and Sen. Joe Lieberman (I-Conn.), who regularly votes with Democrats.

    Under the plan, income tax rates for individuals making up to $200,000 and families making up to $250,000 would remain the same in 2013. Rates on upper income Americans would expire on Dec. 31st.

    "This is a big victory for the American people today," Vice President Biden said in a show of support for Senate Democrats. Biden's presence in the Senate chamber was a symbolic move, his vote was not needed to put Democrats over the top.


    The bill follows through on an election-year call from President Obama to protect the middle class from an income tax hike next year. He has campaigned on the message that wealthier Americans should pay more in taxes to help reduce the national deficit.

    "Democrats believe this country can't afford more budget-busting giveaways for the top 2 percent of earners," Majority Leader Harry Reid told his fellow senators on the floor.

    But Republicans argue the Democrats’ bill would mean almost a million small business owners in those upper tax brackets would see a tax increase. Minority Leader Mitch McConnell said Democrats are not serious about the nation's fiscal problems. 

    "We know this is not about the economy. We know this is about the election," he shot back at Reid on the floor.

    "Thank goodness it’s not going anywhere because it would be bad for the economy. The single worst thing we could do to the country," he said of the Democrats’ bill.

    House Republicans have no plans to take up the Senate-passed bill; they will move ahead next week on their own legislation that would extend the Bush-era tax rates for all Americans for one year. A similar version failed today in the Senate.

    The legislative maneuvering has set the stage for two competing messages heading into November.

    As the Senate Democrat's political messaging leader Chuck Schumer (D-NY) told reporters,

    "The House can either pass these middle-class tax cuts, like we did, or it will be clear they're putting millionaires first."

    Or the Republican view as articulated by Mitch McConnell: "Here's the Democratic plan for the economy: ‘We'll get this thing going again. We'll get it going again by raising taxes ... give us your money, and we'll handle it for you.’ That's their tax plan. That's their plan for the economy and jobs."

    755 comments

    Yay! For Senate, the house can go fly a kite. I hope BO doesn't bend over and make compromises. I am middle class and am willing to pay more taxes as long as the bush cuts are not fully extended. I am in favor of extending them for middle class, but no one else. We need to go back to Clinton era tax …

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  • 24
    Jul
    2012
    8:40pm, EDT

    Obama, Biden accuse GOP of holding hostage middle class tax cuts

    By NBC's Ali Weinberg
    Follow @AliNBCNews

     

    PORTLAND, Ore. – From both the campaign trail and the White House, the Obama administration deployed a strategy to push the president’s middle class tax cut plan while accusing Republicans of holding it “hostage” to cuts for the nation’s highest earners.

    Speaking at a campaign event here, Obama previewed a Senate vote Wednesday on whether to move forward his plan to expire the Bush-era tax cuts for those earning more than $250,000 a year.

    “Tomorrow the Senate is going to vote on a bill that says if you earn less than $250,000 a year, your taxes will not go up next year by a single dime. Now, members of both parties say that they agree this should happen,” Obama said.


    “But of course we are dealing in Washington – the only place we agree on something but still can’t get it done,” he continued.

    Obama accused Republicans, who want to preserve the tax rates for all earners, of holding the middle class cuts “hostage until we also agree to spend another $1 trillion on tax breaks for millionaires and billionaires.” 

    His words echoed Vice President Joe Biden, who had spoken earlier with reporters about a study by the president’s National Economic Council that highlighted what it concluded were the economic benefits of extending middle class tax cuts. The study also noted the benefits of three temporary tax credits for college costs, low-income workers and children, which Republican plans do not extend.

    In the conference call with reporters, Biden accused Republicans of not wanting to take Wednesday’s vote because, he said, public opinion is against them in terms of extending the tax cuts for wealthier individuals and families.

    “There’s this overwhelming concern about what Republicans call decoupling, and they know that if there’s a separate vote and the middle class tax cut is in, they don’t have the popular support for extending the tax cuts beyond that,” Biden said.

    Wednesday’s vote on whether to allow the middle-class tax cuts bill to proceed is unlikely to cross the 60-vote threshold. Its largest impact will likely be Democrats getting Republicans on the record voting against middle-class tax cuts.

    852 comments

    “Tomorrow the Senate is going to vote on a bill that says if you earn less than $250,000 a year, your taxes will not go up next year by a single dime. Now, members of both parties say that they agree this should happen,” Obama said. What happened to raising taxes on only the millionaires …

    Show more
    Explore related topics: barack-obama, economy, decision-2012, mitt-romney, taxes, middle-class, ali-weinberg
  • 19
    Jul
    2012
    1:12pm, EDT

    Most say Romney should make more tax records public

    By Michael O'Brien
    Follow @mpoindc

     

    Updated 2:41 p.m. - Most Americans say Mitt Romney should release more of his tax returns, according to a new poll released Thursday.

    Fifty-four percent of Americans said in a USA Today/Gallup poll that the presumptive Republican presidential nominee should release additional years of tax records beyond the 2010 returns he's already released and the 2011 filing Romney has pledged to make public before the election. Thirty-seven percent of adults said Romney should not have to release more tax records.

    The Obama campaign has sought to make Romney's taxes an issue in the campaign, going so far as to suggest that, in the absence of evidence, it's possible that the former Bain Capital executive might not have had to pay any taxes in a given year.

    Evan Vucci / AP

    Republican presidential candidate, former Massachusetts Gov. Mitt Romney gestures during a campaign stop on Wednesday, July 18, 2012 in Bowling Green, Ohio. (AP Photo/Evan Vucci)

    The Romney campaign has rejected that charge, and has refused to budge in its stance against releasing more tax returns. Doing that, Romney has said, would provide Democrats with more opposition research fodder.

    "We've given all you people need to know and understand about our financial situation and about how we live our life. And so, the election, again, will not be decided on that," Ann Romney said of the tax returns on "Good Morning America."

    Still, Republicans and conservative media outlets, fearing the collateral damage from the candidate's refusal, have joined the chorus calling for Romney to release his returns.

    To that end, 30 percent of Republicans in the USA Today/Gallup survey said Romney should release his returns; 53 percent of independents want to see more of Romney's records.

    The poll was conducted July 18 and has a 5 percent margin of error.

    217 comments

    Romney hasn't hid his tax returns from the IRS. They tend to be a pretty rough group of people. Pretty sure if he was "Hiding" anything, they would have found it. WCA - Who's being naive now. Its not whats declared, its how they are connected with his offshore activities that will probably nail him. …

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    Explore related topics: barack-obama, economy, decision-2012, mitt-romney, taxes, first-read, appfeatured
  • 18
    Jul
    2012
    9:01am, EDT

    Romney: Let's talk about something else, OK?

    Trying to change the subject from talking about Romney’s business record or whether he should release more years of tax returns, the campaign this morning released a new ad this morning asking where all the stimulus money went and charges cronyism. The campaign didn’t say where the ad will be running. The script: “Where Did All The Obama Stimulus Money Go? “Friends, Donors, Campaign Supporters, Special Interest Groups. Where did the Obama stimulus money go? Solyndra. 500 million taxpayer dollars. Bankrupt. So where did the Obama stimulus money go? Windmills from China. Electric cars from Finland. Democrat Senator Charles Schumer: ‘79 percent of the 2.1 Billion in stimulus grants awarded through it went to overseas companies.’”

    FactCheck.org wrote in 2010: “[T]he nonpartisan Congressional Budget Office released a report in August that said the stimulus bill has ‘[l]owered the unemployment rate by between 0.7 percentage points and 1.8 percentage points" and "[i]ncreased the number of people employed by between 1.4 million and 3.3 million.’ Simply put, more people would be unemployed if not for the stimulus bill. The exact number of jobs created and saved is difficult to estimate, but nonpartisan economists say there’s no doubt that the number is positive.”

    It also sent out an email highlighting all the stories written yesterday about Romney hitting Obama as being anti-business.

    But, of course, Former New Hampshire Gov. John Sununu stepped all over the message. Here’s First Read’s report.

    AP: “The Republican presidential candidate is trying to move past questions about his own business career and personal finances.”

    NBCNews.com’s Tom Curry: “Although the presidential campaign rhetoric in recent days has been dominated by “sending jobs overseas,” more than 5 million Americans do live and work overseas and some of them vote and contribute to candidates. Highlighting their importance, Mitt Romney will be appearing at fundraising events when he visits London and Jerusalem at the end of July.”

    The Romney campaign is also out with an ad featuring Romney son Craig speaking Spanish. He says, notes that the U.S. is a immigrants and that his grandfather, George, was born in Mexico.

    10 comments

    that his grandfather, George, was born in Mexico. I dare the Romneys to run this ad in English. In the swing states.

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    Explore related topics: economy, decision-2012, mitt-romney, taxes, first-read
  • 17
    Jul
    2012
    5:38pm, EDT

    Romney faces growing conservative drumbeat to release tax returns

    By Michael O'Brien
    Follow @mpoindc

     

    The drumbeat for Mitt Romney to release additional years of tax returns is growing louder -- not just from President Obama's campaign, but also from conservatives who seem to worry about the political toll of the presumptive GOP nominee's refusal to do so.

    The Associated Press reported that Texas Gov. Rick Perry (R) called on Romney on Tuesday to release more of his tax returns beyond the 2010 forms he has already made public, and the 2011 returns Romney has pledged to release.

    Perry had been among the conservatives to attack Romney over his personal finances and record at Bain Capital during the Republican presidential primary earlier this year. Another of Romney's former primary opponents, Texas Rep. Ron Paul, also told Politico on Tuesday that Romney should release additional returns.

    The former Massachusetts governor has resisted releasing additional years of tax data, arguing that it would provide the Obama campaign with fodder to mine for political attacks.

    "In the political environment that exists today, the opposition research of the Obama campaign is looking for anything they can use to distract from the failure of the president to reignite our economy. And I’m simply not enthusiastic about giving them hundreds or thousands of more pages to pick through, distort, and lie about," Romneytold National Review Online in an interview today.

    But the editors of the conservative magazine joined the chorus demanding Romney release more returns.

    "Romney argues that whatever he releases will not be enough to satisfy the Obama campaign and its factota in the media, who are, once again, proving their bias and double standards. Romney is right, but he should release the returns anyway. Let them go fish," the magazine said in an unsigned editorial.

    Romney has given no indication that he would reverse his decision and provide additional tax data. In the meanwhile, the Obama campaign released a new television ad on Tuesday speculating that there might have been a year in which Romney paid no taxes at all.

    144 comments

    The drip...drip...drip is rapidly becoming a torrent... Come on Willard - show us what you got... Daddy Warbucks! That is... if you truly have nothing to hide... I'm beginning to think there is some pretty damning stuff in them or he wouldn't allow Team Obama to continue beating him like a drum!

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    Explore related topics: barack-obama, economy, decision-2012, mitt-romney, taxes, first-read
  • 17
    Jul
    2012
    12:23pm, EDT

    Romney surrogate Sununu: 'I wish this president would learn how to be an American'

    By NBC's Garrett Haake and Michael O'Brien
    Follow @GarrettNBCNews Follow @mpoindc

     

    Updated at 9:51 p.m. ET: The Romney campaign ratcheted up its language on Tuesday in a conference call on which former New Hampshire governor and White House chief of staff John Sununu said he wished President Obama "would learn how to be an American."

    Sununu led a series of Romney surrogates in questioning the president's commitment to economic freedom, dredging up the president's ties to Tony Rezko; another speaker on the conference call said Obama's policies were akin to "socialism."

    /

    Mitt Romney listens as former New Hampshire Governor John Sununu endorses him for president outside the Statehouse October 24, 2011 in Concord, New Hampshire.

    But it was Sununu's questioning of whether the president understood how to be an American, even after a subsequent walk-back, that made the call feel like part of a late-October attack, and not a story out of what Sununu called the "summer doldrums."


    "The president clearly demonstrated that he has absolutely no idea how the American economy functions. The men and women all over America who have worked hard to build these businesses, their businesses from the ground up is how our economy became the envy of the world -- it is the American way," Sununu said in his opening remarks of the conference call.

    Democratic strategist Jimmy Williams and Republican strategist Danny Vargas talk about Mitt Romney surrogate John Sununu taking heat for saying, "I wish this president would learn to be an American,"

    He added: "I wish this president would learn how to be an American."

    The first question to Sununu later in the call was about that comment, which exploded quickly on Twitter for its stark claim about Obama.

    "What I thought I said, but I guess I didn't say, is that the president has to learn the American formula for creating business," he said. "If I didn't give all that detail I apologize."

    The Obama campaign's Lis Smith said that Sununu's rhetoric represented that the Romney campaign had grown desperate.

    “The Romney campaign has officially gone off the deep end," she said. "The question is what else they’ll pull to avoid answering serious questions about Romney’s tenure at Bain Capital and investments in foreign tax havens and offshore accounts. This meltdown and over-the-top rhetoric won’t make things better -- it only calls attention to how desperate they are to change the conversation."

    Speaking Tuesday with Wolf Blitzer on CNN, Sununu said, “Frankly, I made a mistake. I shouldn't have used those words.” But he said he did not apologize for the idea that “this president has demonstrated that he does not understand how jobs are created in America.”

    “He thinks that jobs are created by giving grants to your cronies, to your bundlers and your contributors, like he did with Solyndra,” Sununu said.  

    When asked whether he was apologizing directly to the president, Sununu said, “Yes, I'm apologizing for using those words. I shouldn’t have used them.”

    Despite the walk-back, the tone of the call was consistently negative -- and harshly so -- with Sununu and the four small businesspeople on the call ripping the president's policies, background and campaign tactics.

    "He comes out of that murky political world in Chicago where 'politician' and 'felon' have become synonymous," Sununu said at the top of the call.

    "As an African American woman, people think I need to vote for Obama because he is black. Well I have been black for a long time and he won't get my vote," said Rene Amoore, a small businesswoman from here in Pennsylvania, adding. "He doesn't know what hard work means."

    In defending the campaign's decision to not release more than two years of tax returns, Sununu also provided the kind of aggressive counterpunch that conservatives have been calling on the Romney campaign to throw for weeks, comparing the Democratic and media calls for more returns to be released to the movie "The Neverending Story." 

    Asked to respond to a new Obama campaign's ad which suggests Romney might not have paid taxes late in his Bain career, Sununu responded bluntly.

    "It just shows how stupid the Obama campaign is," Sununu said, opining that if Romney had not paid taxes the IRS would be "knocking at his door." 

    "The Obama campaign has once again demonstrated that they are clearly and unequivocally a bunch of liars," Sununu said, just before the call's operator broke in to say there would be no further questions.

    3526 comments

    Somebody named "Sununu" is questioning someone else's Americanism? "Sununu"?!! SHOW ME YOUR PAPERS!!!!!!!!!

    Show more
    Explore related topics: barack-obama, economy, decision-2012, mitt-romney, taxes, first-read, nh, john-sununu
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