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Bill Clinton Explains What’s Missing in Mitt Romney’s Tax Math

Last updated on February 8th, 2013 at 01:08 pm

President Clinton explains Mitt Romney’s $5 trillion tax cut and how middle class families with children will get an average tax increase of $2,000 to pay for $250,000 in tax cuts for multi-millionaires.

President Clinton tells the American people, “In the first debate, Governor Romney said that he wasn’t really going to cut taxes on upper income people—he only wanted to cut taxes for middle class people. That’s not true.”

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Chicago is coming on strong, saying, “As Americans learned in the first presidential debate, Mitt Romney will say anything to close the deal, even if it’s not true, just like he did in the corporate boardroom. So in advance of tonight’s debate, President Clinton is taking a couple of minutes to explain how Romney’s $5 trillion tax cut – which Romney claimed didn’t exist in the last debate — gives multimillionaires like him a new $250,000 tax cut, even with closing upper-end loopholes and deductions. He also details how it is mathematically impossible to pay for the $5 trillion tax cut without cutting deductions for the middle class, like the home mortgage, charitable, and state and local taxes deductions. In this new video, President Clinton notes that Romney is now cynically hiding the existence of the tax cut because he knows the only way to pay for it is to raise taxes on the middle class. While Romney continues to deceive Americans about his tax plan, President Clinton reminds them to rely on “arithmetic over illusion.” In other words, facts matter.”

Obama for America has a plan in store for Romney’s debate myths: “To fight back against Romney’s dishonest practices during the debate, OFA will continue to fact check and respond to Mitt Romney’s statements in real time using the @OFAdebates Twitter handle. Followers of the campaign’s existing @TruthTeam2012 account will automatically receive tweets from @OFAdebates. Go to www.barackobama.com/OFAdebates to follow.”

Mitt Romney better be on his A-game tonight. Big Dog and the guy who got Osama are after his tax lies.

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