"When you add up all the loopholes and deductions that upper income individuals can - are currently taking advantage of - if you take those all away - you don't come close to paying for $5 trillion in tax cuts and $2 trillion in additional military spending.
And that's why independent studies looking at this said the only way to meet Governor Romney's pledge of not reducing the deficit - or - or - or not adding to the deficit, is by burdening middle-class families.
The average middle-class family with children would pay about $2,000 more. Now, that's not my analysis; that's the analysis of economists who have looked at this.
And - and that kind of top - top-down economics, where folks at the top are doing well so the average person making 3 million bucks is getting a $250,000 tax break while middle- class families are burdened further, that's not what I believe is a recipe for economic growth. ”~Barack Obama, September 3, 2012
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