Obama: POTUS doesn't have to be rich, like Romney

Politics,Beltway Confidential,Joel Gehrke

President Obama today suggested that Mitt Romney doesn't believe he is rich enough to be president, as he emphasized Romney's wealth at different times throughout the speech.

"[Romney ads will say] I didn't make a lot of money in the private sector and I don't understand it," Obama said in Ohio, or that "I'm in over my head  . . . that's what the scary voice in the ads will say. That's what Mr. Romney will say."

Obama didn't let his blue-collar audience forget that Romney is wealthy. "I don't believe that giving someone like Mr. Romney another huge tax cut is worth ending the basic security we've always guaranteed [to the poor]," he said. The president argued that Romney's tax cuts for the wealthy will require spending cuts and tax increases on the middle class due to pressure to reduce the deficit.

Romney explained yesterday that Obama's millionaire tax increases will kill jobs for small businesses. "I don't want to raise the individual marginal tax rate from 35 to 40 percent; I know there are some who think that thats a great way to go after rich people," Romney said at the Business Roundtable yesterday. "Fifty-four percent of America's workers work in businesses taxed at the individual tax rate -- you raise that marginal tax rate from 35 to 40, and you kill jobs," he said.




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