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July 09, 2012 AT 10:45 AM
President Obama wants to keep pressure on Republicans and Mitt Romney by extending the Bush tax cuts but only for those making under $250,000 a year -- leaving his opponents to defend tax breaks for millionaires. It comes after a holiday week featuring Romney vacationing at his New Hampshire lake house riding a jet ski and driving a power boat while Obama rode around the Rust Belt on a bus tour.