President Obama ridiculed the Republican focus on tax-cut proposals, while telling a rally in Portsmouth, New Hampshire, about his own administration’s tax-cuts and other efforts to recover from the financial crisis.
“And we are fighting to recover from that — it’s a long, tough journey. But our friends at the Republican convention, they talked a lot about what they thought was wrong with America. They didn’t tell you what was right. They didn’t tell you what they’d do to make it right. They want your vote, but they do not want to show you their plan. And that’s because they know their plan will not sell. That’s s because all they have to offer is the same prescriptions they have had for the last 30 years.
“Tax cuts, tax cuts, gut some regulations — oh, and more tax cuts. Tax cuts when times are good, tax cuts when times are bad. Tax cuts to help you lose a few extra pounds. Tax cuts to improve your love life. It will cure anything, according to them.”
Obama then went on to tout his own tax cuts for families and businesses: “We have cut taxes for small businesses 18 times. But I do not believe that another round of tax breaks for millionaires is what is going to bring good jobs back to our shores or pay down our deficit. I do not believe firing teachers or taking students off financial aid will grow our economy — not when China is producing more engineers and science, and we have to compete with them.”