President Obama recently mocked the GOP for their 33 votes to repeal the health law instead of cooperating with him in order to pass a tax extension that would benefit the middle class.
Obama also expressed his opinion about taking a new approach instead, in saying, “I have to tell you, I think they’re wrong. If you try something and it doesn’t work, why would you try it again? Why would you want to go back to that? I’ve got a different idea, I don’t think top down economics works. I believe we grow this economy from the middle out, from the bottom up. Folks like me, we don’t need a tax break.”
In an effort to make a point about how the Bush-era tax cuts for those making less than $ 250,000 a year would help the middle class, he also mentioned that the Republicans were holding these tax cuts hostage while not being serious about deficit reduction, in extending these cuts for the top two percent of tax payers.
Obama also went on to counter the Republican criticism that extending these cuts would be harmful to small business owners and the economy instead. It was very clear from his speech that Obama was suggesting that Romney was an “out-of-touch millionaire” and intended to implement top down economics, much like former President George W. Bush.
Although, he didn’t mention Bain Capital, that Romney was the founder of, it’s also pretty clear that both Presidential candidates have taken opposing stances when it comes to economic policy. Not to be outdone, Romney’s campaign has accused the President of failed policies in his first term.