Obama ad: Romney tax plan hurts middle class

(CBS News) A new TV ad out Wednesday from President Obama's campaign challenges Mitt Romney for not revealing details of his tax plan and takes the liberty of filling in the blanks.

"Mitt Romney, he won't reveal what's in his taxes and he won't tell you what he'd do to yours," a narrator says in the ad.

"To pay for huge new tax breaks for millionaires like him, Romney would have to raise taxes on the middle class," the ad continues, adding that taxes could increase by $2,000 per middle class family and that the tax increases could come from the loss of home mortgage reduction, health care credits and college tuition breaks.

"How much would you pay? Romney just won't say," the ad concludes.

The spot, which will air in the battleground states of Iowa, Nevada, Virginia and Ohio, comes as Mitt Romney has come under pressure, including from conservatives in his own party, to reveal more details of his policy proposals.

Romney and his running mate Paul Ryan have repeatedly said that to make up for the loss of revenue from lowering taxes, he would eliminate loopholes and deductions for high-income earners, but he has not specified which deductions he would get rid of. In the absence of those details, Democrats have jumped on several independent studies, including one by the Tax Policy Center, that suggest middle-class Americans would be negatively impacted from the elimination of all deductions, including charitable and mortgage deductions.

[TimeToEvoIve]

As opposed to the Obama plan, which is to spend like there's no tomorrow. Has anyone noticed there raises (if you're lucky enough to be working and lucky enough to get a raise) are not keeping up with increases in the cost of goods and services.

[fiberglass3]

spend like there's no tomorrow ??????

You must be living in the past - like 4 to 8 years ago.

[AListens]

Mistake- YOUR MONEY ISN'T LONG ENOUGH TO FIT UNDER HIS UMBRELLA! They only need your vote-They don't need you. Can't you tell by the Koch brother and Carl Rove interest that it's more to this than what meets the eye? They need a puppet and who do you think that will be...Nothing and I mean Nothing is Free In America...

[chris87654]

Everyone seems to know this except middle class GOP supporters. They're either blinded by color, or so dumb that they can't do the math - the numbers simply don't add up. Mitt will look like an idiot if he doesn't come up with some details of which cuts he'll target for high-enders (many would be obscure and unknown - I'm still not sure how anyone can deduct vet bills for a horse... I have vet bills for my dogs which I'd like to deduct) and for the middle class (which are better known).

[URNSO2]

Truely this is more complicated than arithmetic. Hopefully we will learn more at the debates.

[jbfrizzle]

Yes, this is more complicated than arithmetic but i think it is valid to say that we should start with arithmetic and work our way up to the more abstract points. If it doesnt pass step 1, is there any need to go on to step 2?

[ReduceGHGs]

We don't need mitt's agenda. It's the same old failed trickle down that got us into this economic mess; amazing that so many Republicans just don't get it. And their position on climate change is equally unrealistic. Reality check!

[URNSO2]

Seems to have worked for Reagan and W. Bush when they lead us out of recessions.

[tmsanders78]

"life220" is a perfect example of the sick liberal mind run amok with cliches and hate-Bush rhetoric. His rambling, almost incomprehensible posts indicate an irrational outlook fed by the left-wing media and their often-fabricated and selectively-edited presentations of conservatives (remember "that black cloud" speech with intentional muting of audio?).

[URNSO2]

I am pretty sure the Life220 is charading as a liberal. Hopefully no one is truely that stupid.

[justamaz]

Why lie Obama? The only sure tax/penalty that will hurt middle class is the Obamacare mandate.

[URNSO2]

Doesn't Congress write the Tax policy?

[AListens]

@tsigili, you are ready to call people brainwashed, What are you besides Brainwashed? You are willing to vote against your own best interest for a man with a hidden Plan. You are willing to stand with a man that will not tell you his plan...you are willing to allow billionaires to run our country because you hate so deep...Wake Up and smell the coffee...Your candidate 1. will not release his taxes, 2. lies and will not subject his camp to fact check, 3. has not or will not tell you what his plan is, oh until he's elected. 4. One minutes he's for (parts of Obamacare) and the next he's not. 5. The other part of the ticket wouldn't care if our mother's were raped by the neighbor next door and if by chance she got pregnant she would still have to have the child..6. Do you really care about the country you live in? You know and every Republican knows...Mit Romney isn't the one you wanted in the first place...Do You Even Know What He's Running On???I sure in the heck don't have a clue...AListens-what do you have to say?

[URNSO2]

1. Don't care about other taxes as long is no one is breaking the law.
2. Fact checks show both parties are chroninc liers (media subjects fact Check)
3. Actually he has had a 52 point plan and has laid down some guidelines. Ultimately Congress must write the laws.
4. Actually he hac never been for Obamacare, he only acknowledged that the entire plan is not all bad.
5. The Supreme would have to change the abortion policy
6. Most people care they just have differant visions

[AListens]

@URNSO2 how would you know if he's breaking the law or not if you can't see his taxes? Do your own Fact check and don't rely on the media-(any channel or newspaper) As Far as Obamacare, He was the originator of Obamacare-where have you been? Yes I simply agree to disagree about most people caring and have different visions! My vision is to remember the past and not allowing this time to take me back to the era that my grandmother and her mother fought for...We need to be focusing on raising our school levels Nationally! Science and Math! Charting New Courses and not this same old hate garbage...URNSO2-I wish you well and your family...because if Romney gets in you are going to need it...I can tell from your writing...Your money is long enough to fit under his umbrella...

[Mreed12]

More fabrications, aka Lies, from the lying liars of campaign Obama I see. Don't have any facts? Just make some stuff up and throw-in some threatening sounds to frighten people with your fabricated "facts". Oh, and press on with your class-warfare, war on women and race-baiting (dog whistle) propaganda. That's the Hope and Change we had been waiting for!

[rksharma-2009]

This is the best ad that I have seen. Everything in this ad is true. Is there anyone who can contradict this ad?