Federal Politics

Published — July 12, 2012 Updated — May 19, 2014 at 12:19 pm ET

AdWatch: Obama ad hits Romney’s tax plan

FILE - In this July 10, 2012 file photo, President Barack Obama speaks in Cedar Rapids, Iowa. (AP Photo/Nati Harnik, File)

Introduction

WASHINGTON (AP) — TITLE: “Two Plans.”

LENGTH: 30 seconds.

AIRING: In Colorado, Florida, Iowa, North Carolina, New Hampshire, Nevada, Ohio, Pennsylvania, and Virginia.

KEY IMAGES: The ad, from President Barack Obama’s re-election campaign, opens with images of people at voting booths.

“The choice on taxes,” says a male narrator. “Mitt Romney’s plan: a 25 percent tax cut for millionaires, tax breaks for oil companies and corporations that ship jobs overseas, but a tax hike for working families.”

Images of an oceanfront mansion and an Exxon logo buttress the message, followed by scenes of Obama greeting a crowd of supporters and plant workers.

“President Obama’s plan: Ask the wealthy to pay a little more so the middle class pays less, eliminate oil subsidies and tax breaks for companies that outsource,” the narrator says. “Two plans. Your choice.”

ANALYSIS: With economic issues dominating the presidential race, Obama’s ad employs a fresh line of attack against Romney by accusing him of backing higher taxes for working families — the kind of charge Republicans often lob at Democrats.

Obama hopes to sharpen his differences on taxes with Romney. The ad airing in nine states expected to be highly competitive this fall comes days after Obama renewed his call for Congress to extend Bush-era tax cuts — set to expire at the end of the year — for households earning under $250,000.

Obama’s key charge that Romney supports a tax hike for millions of working families lacks important context. Romney’s tax plan actually calls for a 20 percent reduction in all personal income tax rates.

The tax-hike claim rests on an analysis by the nonpartisan Tax Policy Center, which assumes Romney wants to let the tax cuts in Obama’s 2009 economic stimulus package expire. Romney has been a harsh critic of the stimulus.

The Tax Policy Center said that for about 11 percent of tax filers, Romney’s proposed 20 percent across-the-board tax cut would not be enough to offset the loss of tax benefits in the stimulus package. Those benefits include an expanded child credit, earned income credit and education credit. For those people, taxes would go up an average of nearly $900 for 2015, the center said.

The tax center also said 70 percent of tax filers would get tax cuts averaging almost $4,300 under Romney’s plan, something Obama’s ad ignores.

The claim that Romney supports a tax cut for millionaires is true. Romney’s plan would drop the top tax rate from 35 percent to 28 percent. But other tax rates would drop, too.

Corporations, as the ad says, also would gain under Romney’s plan, which calls for cutting corporate taxes from 35 percent to 25 percent.

The claims about Obama’s plan are generally on the mark. Obama wants to raise taxes on the wealthy to ensure they pay a minimum of 30 percent of their income.

The president also wants to let the top tax rates go back up 3 to 4 points to 39.6 percent and 36 percent, respectively, and raise tax rates on capital gains and dividends for the wealthy.

Obama also backs extending Bush-era tax cuts for everyone making under $200,000, or $250,000 for couples.

As the ad says, Obama supports tax penalties for U.S. companies that outsource jobs. He wants to end subsidies to the oil industry, but has failed to persuade Congress to do so.

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SOUTH JERSEYTed SiroisMark SullivanTom LarkinAnonymous Recent comment authors
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Mark Sullivan
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Mark Sullivan

Trump needs to conduct these activities because the entire MSM media, excluding Fox, is campaigning against him 24/7/365.

Didn’t Monica’s boyfriend’s wife and various criminal enterprises outspend Trump by almost 2-1?

CapitalistRoader
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CapitalistRoader

Why wouldn’t he get an early start on fund raising? Hillary outspent him two-to-one in 2016. The Dem’s are the party of big money. The President knows this and is attempting to get a jump on it. Of course the Dem candidate will outspend him in 2020 so it’s only rational that he starts fund raising now.

George Young
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George Young

Oh brother. We just 8 years of the Campaigner – in – Chief. Where was this journalistic rectal thermometer then. Just another article about 2000 words too long that merely takes another slap at Trump for something he far from initiated.

j stevenson
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j stevenson

The big difference between Trump and all the rest is his refusing to accept funds from lobbyists, so they don’t have the White House access they are used to. These are the donors who buy the presidency and are as pixxed off that he won the election as are the media and the Dems. Lobbyists have never been shut out of the WH and Trump has told them he is not for sale.

Anonymous
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Anonymous

Trump needs to be impeached and tossed in prison. Then have the key thrown away so he will never be free. Then he can see how it feels not to have freedom.

Mark Sullivan
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Mark Sullivan

Thank you for the usual insightful leftist low IQ Snowflake response.

barney
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hes not imprisoning them hes sending them back to their country chill tf out

SOUTH JERSEY
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SOUTH JERSEY

WHY DONT YOU HAVE FREEDOM?

Tom Larkin
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Tom Larkin

First, something positive. I was happy to learn of empirical information in article. BUT, the article was so slanted against President Trump as to be deemed fake news (“Perhaps Trump just lied.” (Two different issues)). The article mentions that President Trump raised over $67 million, but ended 2018 with $19 million. President Trump spent over $40 million 2016 and 2017. President Trump conducted 57 political rallies. The article notes the hats and T-shirts sold, but NEVER MENTIONS THE INCREASE IN THE NUMBER OF REPUBLICAN SENATORS during a mid-term election that lost the House and the number of political rallies in… Read more »

Ted Sirois
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Ted Sirois

At least Trump is getting donations from willing donors. Fresh from his first election, Obama used billions of our children’s tax dollars to save thousands of union jobs in the car industry and bailed out the banks and many Wall Street businesses. This secured his source of reelection funds for his reelection four years later.

South Jersey
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South Jersey

TRUMP 2020; IS AN AMAZINGLY SMART MAN! VERY ORIGINAL & CREATIVE. I AM HAPPY TO HAVE HIS AS POTUS.

SOUTH JERSEY
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SOUTH JERSEY

THIS ARTICLE WAS OBVIOUSLY WRITTEN BY, A TRUMP-HATE-GROUP. THAT FEELS; IT IS NOT NORMAL TO BE SUCCESSFUL WITH YOUR OWN BRAND NAME. WHEN, IF FACT, IT IS NORMAL! >>>>> THIS IS >>> FAKE NEWS!!! <<<< ie: A PACK-OF-LIES; SPUN INTO; DEFAMATION OF CHARACTER. FOR A SINISTER-AGENDA OF; FASCIST DEMOCRATIC SOCIALIST, COUP D'ETAT

David
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David

Are you on some kind of drugs? Writing in caps makes me think that you are grumpy old fart or a uneducated hillbilly.