Tax Battle Heats Up

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Wednesday, August 1, 2012 - 3:05pm

House votes on extension of Bush-era tax cuts.

Ohio is a key electoral state, and, as President Obama arrived there Wednesday a new poll showed him six points ahead of Mitt Romney, who the president hammered on taxes.

"He's asking you to pay more so that people like him can get a big tax cut!" the president told a cheering crowd. "In order to afford just one $250,000 tax cut for people like Mr. Romney, 125 families like yours would have to pay another $2,000 in taxes each and every year."

It's the number one Obama theme: Keep tax rates the same on 98% of Americans, but hike taxes
on families making more than a quarter million and on the most profitable four percent of small businesses.

Meanwhile, Republicans who run the house pushed a vote to keep all rates unchanged.

House Speaker John Boehner complained that two years ago President Obama wanted all rates kept the same.

"Well, economic growth is worse now, but he's out campaigning for a tax hike on small businesses that Ernst & Young says will cost 700,000 jobs," Boehner argued.

President Obama will take his message to two more swing states this week, Virginia and Florida.

After the election Congress has just seven weeks to cut a deal on taxes before they go up in every income bracket.

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