Romney was asked about tax reductions. He said that he cared about the middle class because it had been crushed in the current administration. However, he would not reduce rates for the wealthiest Americans. and have small businesses keep capital.
Obama argued that this philosophy did not work. He cut taxes by $3,600 and created millions of new jobs. He said that cutting for the middle class will ensure a stronger economy.
This outlined a fundamental difference between the two ideologies: Romney’s philosophy believes that tax cuts will give smaller businesses ability to buy more capital. Obama’s plan wants to rely on the middle class and argued that Romney keeping his five-point plan, using $8 trillion and ensuring middle class success doesn’t make sense. Romney can’t do it all, Obama said.
“The math doesn’t add up,” Obama said.
Romney countered that he has balanced countless budgets and understands exactly how it adds up, and that perhaps the president should take a look at his own deficit for an example of a budget that does not add up.