Obama: Romney tax plan is "Robin Hood in reverse"

President Obama speaks at a campaign fundraiser in Stamford, Conn., Monday, Aug., 6, 2012. AP Photo/Pablo Martinez Monsivais

President Obama speaks at a campaign fundraiser in Stamford, Conn., Monday, Aug., 6, 2012.
AP Photo/Pablo Martinez Monsivais
(CBS/AP) STAMFORD, Conn. -- President Barack Obama is labeling opponent Mitt Romney's tax plan as "Romney Hood," saying it takes from the middle class and gives to the rich.

Speaking Monday night at a campaign event in Connecticut, Obama said the GOP plan "is like Robin Hood in reverse."

Obama says Romney's tax plan would give tax breaks to the wealthiest Americans while forcing middle-class families to pay up to $2,000 a year in additional taxes.

The president cites a study by the nonpartisan Tax Policy Center that says millionaires would receive a tax cut of approximately $250,000 a year if the former Massachusetts governor gets his way.

"He'd ask the middle class to pay more in taxes so that he could give another $250,000 tax cut to people making more than three million dollars a year," Mr. Obama said.

"They have tried to sell us this trickle-down, tax-cut fairy dust before. And guess what? It does not work. It didn't work then, it won't work now," he added. "It's not a plan to create jobs, it's not a plan to reduce our deficit, and it is not a plan to move our economy forward."

Romney spokesman Ryan Williams responded in a written statement, "President Obama recently said the biggest regret of his first term was not telling better stories. He's trying to make up for it now, but his stories just aren't true. There's only one candidate in this race who's going to raise taxes on the American people - and that's Barack Obama."

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