President Barack Obama was adamant Monday that his calls for extending the Bush-era tax cuts only for Americans earning less than $250,000 do not amount to class warfare, while at the same time saying that he will veto any legislation that extends all of the tax cuts.
“I would veto it and here’s why: What I’m proposing is that we give a tax break, that we make sure that taxes don’t go up on 98 per cent of Americans — 98 per cent. But to extend tax breaks for that top 2 per cent of wealthiest Americans would cost us a trillion dollars over the next decade,” Obama said in an interview with New Orleans’ WWL-TV Monday afternoon, one of eight television hits the President did with local reporters (mostly from key battleground states) to promote his position on the tax cuts.
“Now at a time when we’re trying to bring down our deficit to give me a tax break or Warren Buffet a tax break that costs a trillion dollars and 80 per cent of that would go to people who make a million dollars or more, that would mean that we would have to cut something,” he added.
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In another interview Monday, with New Hampshire’s WMUR television station, Obama insisted that his tax position “really shouldn’t” renew criticisms that his campaign is engaging in class warfare to win the election.
He also defended his campaign’s recent attacks against Republican presidential candidate Mitt Romney, who is something of a native son in the Granite State.
Stressing the need for transparency in the presidential race, Obama called on Romney to be an “open book” about his financial holdings and income tax returns:
“Obviously there are unpleasant aspects of being poked and probed, and I understand that,” Obama told WMUR reporter Josh McElveen. “But it’s important for you to say here’s who I am, and here’s how I’ve done.”
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