Next big issue is taxes.
Obama and Romney spar over how to define Romney’s tax plan, where he says he wants to lower tax rates 20 percent.
Romney says Obama’s description of his tax plan is inaccurate: “I’m not looking for a five trillion tax cut.” He says says he’s used to fudging the truth and repeating it enough in the hope of it sticking by raising five boys. Romney says by lowering taxes, businesses will be able hire more people and bring in more revenue.
Obama responds: “For 18 months, he’s been running on this tax plan, and now he’s saying his big bold idea is ‘never mind.’” Obama says it’s not possible to lower tax rates the way Romney is describing without adding to the deficit or burdening the middle class. “It’s math.”