Obama and Romney tussle over tax-cuts

President Barack Obama and Republican hopeful Mitt Romney are clashing over the economy and the debate has heated up with rhetoric over the Bush-era tax cuts. Obama has challenged Romney to join him in allowing tax hikes for rich Americans like themselves, needling his rival on Tuesday to compromise in order to help the middle class. Romney dismissed the idea by returning to the sensitive topic of outsourcing and called Obama “outsourcer-in-chief”.

Iowa and Colorado are the two areas drawing intense campaign attention with both Obama and Romney fighting for any advantage. While Obama directed his talk towards taxes, Romney focused on redirecting the charges that he has sent jobs overseas when he was working in private equity. Romney said, “He’s run some interesting attack ads on me on that topic, It is interesting that when it comes to outsourcing that this president has been outsourcing a good deal of American jobs himself, by putting money into energy companies that end up making their products outside the United States”. The former equity executive was under heat from within his own camp over his response to the relentless attacks that he shipped jobs overseas and his staff distributed a newspaper story critical of Obama’s outsourcing record. Romney said about the President, “If there’s an outsourcer-in-chief, it’s the president of the United States, not the guy who’s running to replace him”. And to back up the claim with proof Romney’s camp cited a Washington Post story which describes the ongoing trend of shifting American jobs to low-wage countries even during Obama’s tenure. However, all this rhetoric does little to change the fact that the economy has stalled and Washington is deadlocked and it’s a tight race in the election. President Obama who is facing the pressure of re-election with high –unemployment has shifted blame to the Republicans over looming tax increases.

 

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