1. International

  2. Market

  3. Market

Presidential debate: I dont have a $5 trillion tax cut, claims Romney

India Infoline News Service | Mumbai | October 04, 2012 08:14 IST

"America does best when the middle class does best," President Obama says.

Mitt Romney says he doesnt have a $5 trillion tax cut in mind even as President Obama claims otherwise as the first presidential debate got underway.

Arguing that the Republican nominee Mitt Romney was likely to skew tax cuts toward the wealthy, Obama said either it would add to the deficit or the middle class would be taxed further.

Romney defended that the 20% across-the-board rate cut wouldnt hurt the middle class.

Therell be no tax cut that adds to the deficit. I want to underline that no tax cut that adds to the deficit, Romney said adding I will not under any circumstance raise taxes on middle-income families.

Stating that the issues is to consider not where weve been but where were going, the US President said Romneys big bold idea is 'nevermind. Its math, its arithmetic.

The other issue both the candidates debated or rather disagreed on was over the jobs issue.

Weve begun to fight our way back, Obama said and called for "economic patriotism."

"America does best when the middle class does best," Obama said

"It's going to take a different path," Romney said, repeating his five-point plan for growth.

The next debate takes place on Oct. 16 and the final debate would be on Oct. 22.









 

 
 
 
Recent Reports
News