Complementing a campaign fact sheet on the presidential nominees’ competing tax plans, the Obama camp hosted a call today between U.S. Rep. Bob Brady (D-Phila) and two middle-class voters who said Romney’s tax plan would roll back tax cuts for them while implementing millions of dollars of tax breaks for the rich.
State party Chair Jim Burn was unable to make the call due to technical difficulties.
But the voters were there and solidly in Obama’s corner.
Karen Wilson-Lynch of West Chester and Mike Galovich of Pittsburgh, each told their side of the story as to how the middle class tax cuts help their families. Wilson-Lynch said that the cuts help her family with mortgage payments. Galovich echoed Wilson-Lynch,saying that as the sole provider for his family, the extra money helps him with bill payments.
U.S. Rep Bob Brady (D-Phila) also discussed the contrasting tax plans for President Obama and Republican Presidential hopeful Mitt Romney.
His message was a familiar one: if Mitt Romney wins, the middle class loses.
Brady ripped into Republican congressmen as well as Romney for policies that he said threatens to place a financial burden on the middle class.
“Our nation is finally starting to recover from one of the worst economic recessions in a generation,” Brady said.
“This recovery did not happen in a vacuum and it has not occurred by chance. President Obama has taken decisive steps to strengthen the middle-class and create an economy built to last. Romney’s backward and unbalanced policies are a threat to the progress we have seen.”
Brady made it clear that he believes the middle class faces a serious financial threat if Romney were to win in November. According to a new study released by the Tax Policy Center – a nonpartisan venture of the Brookings Institution that analyzes current and long-term tax issues – some of those fears for a middle class tax burden may be justified.
According to the Washington Post, Romney’s plan would reduce tax rates by 20 percent, and repeals provisions such as the estate tax and taxes on investment income for middle-class taxpayers.
In addition, his rate-cutting plan for individuals would reduce tax collections by about $360 billion in 2015, the study says.
“To avoid increasing deficits — as Romney has pledged — the plan would have to generate an equivalent amount of revenue by slashing tax breaks for mortgage interest, employer-provided health care, education, medical expenses, state and local taxes and child care — all breaks that benefit the middle class,” reported the Washington Post.
This study falls on the same day a poll was released showing strong numbers for Obama in PA, with a high favorability for the President’s tax plans.
By a margin of 62 percent to 34, respondents said they support raising taxes on those making more than $250,000 per year. This issue has been central to the campaign, and a key line of attack against the GOP – who Dems say want to help the rich at the expense of everyone else.
But Romney for President Policy Director Lanhee Chen said the study leaves out key parts – about half – of the Governor’s plan to help the middle class and promote faster economic growth.
“The study…ignores reforms that would make America’s corporations more competitive by moving from the highest corporate tax rate in the industrialized world to one that is comparable to our trading partners,” Chen said in a press release.
“And the study ignores the positive benefits to economic growth from both the corporate tax plan and the deficit reduction called for in the Romney plan. These glaring gaps invalidate the report’s conclusions.”
State Romney spokesperson Kate Meriwether agreed, saying that under Obama, the country will continue its downturn.
“Under Barack Obama, our nation has suffered from one trillion-dollar deficit after another, contributing to America’s first-ever credit rating downgrade,” Meriwether said.
“President Obama’s plans to raise taxes and cut the military won’t create jobs or make us safer. As president, Mitt Romney will revive our economy, strengthen our military and repair the damage done to the middle class by President Obama’s failed policies.”