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• Romney is in favor of the Bush support cuts as he says that
these cuts really helped to bring the economy back on track when
the country was going through a bad phase. He stated that "I have
never opposed the Bush 2002 tax cuts. I supported them." during
the 2008 Republican Primary Debate.
• He suggests that the best way to avoid an oncoming recession
is to get a cut on the taxes of the middle class groups. This
means that there will not be any taxes on interest, dividends or
capital gains and will result in more money in the hands of the
middle class. They will in turn put in more capital into the
market which will be available for new ventures and homes.
• He is in favor of reducing the tax burden on middle income
families. The Des Moines Register reported that he said that "I
don't stay awake at night about the taxes that rich people are
paying. I am concerned about the taxes that the middle class
families are paying." during a Republican Debate.
• Romney strongly votes for the removal of death tax as he
feels that it makes absolutely no sense in it.
• Romney addressing it as "my pledge" has promised not to
support or reverse the plan to roll income taxes back to 5% by
the next year even if a situation of a budget deficit of $3
billion.
•Mitt Romney said at a debate in Boca Raton on 24th January
2008, "I support the Bush tax cuts. The Bush tax cuts helped get
our economy going again when we faced the last tough times."
• When asked what his first step would be on the fears of a
recession, he replied that he would try to get a reduction of
taxes on the middle income people of America. He intended that
people earning less that $200,000 per annum would be able to save
money without the burden of taxes.
• "Lowering taxes helps build jobs & helps working families,
and so I strongly have been of the view that one of the great
lessons for Ronald Reagan was that lowering taxes helped built
our economy." Fox News NH Republican primary debate on 6th
January 2008.
• On the Death Tax: "It doesn't make sense to me that people
get taxed when they can earn their money, get taxed when they
save their money, and get taxed when they die. We should get rid
of the death tax." Quoted from Romney's book 'The Man, His Values
& His Vision, p115.'
• In a debate in South Carolina he said he wanted to make it
very clear that he would not raise taxes.
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• Obama's plan is to introduce tax cuts for most small
businesses and ninety five percent of the people. During the 2008
Presidential Debate against John Mc Cain, Obama stated that "I
want to provide a tax cut for 95% of the Americans the vast
majority of small businesses would get a tax cut under my
plan."
• Obama feels that there is no need of $300 billion on tax cuts
for people who do not need them. In his first Presidential debate
he proclaimed that "If we are spending $300 billion on tax cuts
for people who do not need them and are leaving out health care,
which is crushing on people all across the country, then we have
made a bad decision and I want to make sure that we're not
changing our long term priorities."
• He stands for a cut in the taxes for the middle class to
provide some respite for struggling house owners.
• Obama believes in expanding the earned income tax credit. He
once stated that "We have to break the cycle of poverty and
violence that's gripping too many neighborhoods in this country.
That's why I'll expand the Earned Income Tax Credit- because its
one of the most successful anti-poverty measures we have."
• Obama wants to retain an inheritance tax on the wealthiest
citizens that others have fought to repeal.
• Obama opposed the suspension of the federal gas tax during
the 2008 summer.
• Obama advocates for the elimination of income taxes for
seniors making less than $50,000 and wants simplify their tax
filing process.
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