New Romney ad disputes Obama claim on $5 trillion tax cut

New Romney ad disputes Obama claim on $ 5 trillion tax cut
News from CBS News:

ORLANDO, Fla. In an effort to combat the Obama campaign’s recent attacks on his tax plan, Mitt Romney’s campaign is releasing a new TV advertisement on Sunday that accuses the president of distorting the Republican nominee’s economic plan – a charge that the Obama campaign says is wrong.

The ad, “5 Trillion,” says Obama is “not telling the truth about Mitt Romney’s tax plan” and focuses on fact checks from both the Associated Press and ABC News that dispute the claim.

During the first presidential debate, President Obama referred to Romney’s “$ 5 trillion tax cut” four times.

The number comes from a study by the nonpartisan Tax Policy Center that examined Romney’s tax proposals – including his plan to reduce federal income tax rates by 20 percent, in addition to eliminating the estate tax and other tax reductions. The center estimated that the lost revenues would total $ 480 billion by 2015.

The Obama campaign used this number to project the cost over a decade and came up with approximately $ 5 trillion.

But as PolitiFact and other fact-checking organizations have pointed out, Romney’s tax plan also includes offsetting lost revenue by getting rid of deductions and closing loopholes. Romney himself has said that his tax cuts will be revenue-neutral, though he hasn’t specified which deductions or loopholes he’ll c…………… continues on CBS News

… Read the full article

Related News:

Stewart vs. O’Reilly: America from two perspectives
News from Christian Science Monitor:

Jon Stewart, the left-leaning Comedy Central ‘news’ anchor and Bill O’Reilly of Fox’s ‘O’Reilly Factor,’ tangled in their own debate on Saturday night.

This high-stakes debate had some props that even the presidential candidates might want at their own events.

Skip to next paragraph

Jon Stewart came prepared with a mechanical pedestal he used to eleva…………… continues on Christian Science Monitor

… Read the full article

Related posts:

  1. GOP victory in Wisconsin a good sign for Romney
  2. Romney: Claim That He Hasn’t Paid Taxes…
  3. Five weeks out: Clock ticks on Romney and Obama
  4. Obama campaign seeking to box Romney in with healthcare ruling
  5. Rough days for both Obama, Romney