Presidential debate: “I don’t have a $5 trillion tax cut,” claims Romney
"America does best when the middle class does best," President Obama says.
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 ‘wouldn’t hurt the middle class’.
“There’ll 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 we’ve been” but “where we’re going,” the US President said – “Romney’s big bold idea is 'nevermind. It’s math, it’s arithmetic.”
The other issue both the candidates debated or rather disagreed on was over the jobs issue.
“We’ve 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.
India Infoline Research Team / 08:44, Jun 26, 2015
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today. The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower.