Obama, Romney wrangle over differing tax plans

Obama, Romney wrangle over differing tax plans

DENVER (AP) - President Barack Obama and Republican rival Mitt Romney are sparring in the first presidential debate over their differing approaches to growing the economy.
DENVER (AP) - President Barack Obama and Republican rival Mitt Romney are sparring in the first presidential debate over their differing approaches to growing the economy.

Obama says that Romney's tax agenda would not reduce the deficit. He says it would include a massive tax cut for the wealthy and more military spending.

The president is citing former President Bill Clinton, suggesting the nation should return to the Clinton-era tax rates he says would lead to economic growth.

Obama says simple "math" and "common sense" show Romney's approach is not a recipe for job growth.

Romney says virtually everything Obama says about his tax plan is inaccurate. Romney says his plan will cut taxes, reduce spending and grow the economy.

Romney says, quote, "I will lower taxes on middle income families."

President Barack Obama says the United States is making progress in repairing the struggling economy he inherited when he took office while his Republican rival, Mitt Romney, says the Democratic incumbent favors a "trickle-down government, if you will."

Obama and Romney opened their first of three presidential debates Wednesday with disagreements on how the government could help add jobs.

Obama pointed to progress made in saving Detroit's auto industry and rebuilding the housing market. Romney, meanwhile, says he would take a different path that gets government out of the way for American businesses.

Obama says Romney's plan would cut taxes for high-income workers. Romney says that is incorrect and that wealthy Americans will do just fine regardless whether he or Obama is in the White House.



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