Mitt Romney will lower tax rates across the board, make our businesses more competitive, and bring a real recovery to the American people." of the Virginia Code, as amended, are not subject to this tax and 5. President Obama wants to raise taxes on small businesses and job creators, which will make our recovery even more difficult. In tonight's debate, the choice on taxes will be clear. At a recent presidential debate, one of the rare points of agreement between Mr Trump and Mrs Clinton was on the elimination of the carried interest tax. "They are trying to hide the fact that President Obama is the only candidate running on a plan to increase taxes. After adjustments, deductions and exemptions, taxable income for the family in 1990 was 179,020, on which the Clintons paid taxes of 50,932, the return shows. Responding to the Clinton video, Romney spokeswoman Amanda Henneberg said: Read More: Hillary Clinton is the big winner after powerful Bill Clinton speech In a statement accompanying the video, the Obama campaign says: "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 multimillionaires."ĭuring the Democratic National Convention, the former president delivered a similar message, where he criticized the former Massachusetts governor's tax reform agenda. "In the first debate," Clinton says in the video, "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. 12, 2016, the 2015 tax return of Bill and Hillary Clinton shows they paid an effective federal tax rate of 34 percent on income. Ahead of the second presidential debate, former President Bill Clinton hit out at Mitt Romney’s proposed tax overhaul in the latest Obama campaign video which was released on Tuesday.Ĭlinton says that the GOP candidate’s tax cut proposal only adds up to $5 trillion, which will only add to the national debt unless accompanied by massive budget cuts or the elimination of tax deductions.
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