Newsmax TV & Webwww.newsmax.comFREE - In Google Play
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
Skip to main content
Tags: obama | romney fight | economy

Obama Team Targets Romney over Taxes, Republicans Cry Foul

By    |   Sunday, 08 July 2012 06:23 PM EDT

Republicans on Sunday morning news programs attacked President Barack Obama’s handling of the U.S. economy, saying recent reports suggest it’s weakening, while Democratic defenders urged patience.

“There are almost a half a million more people unemployed today than four years ago,” Republican National Committee Chairman Reince Priebus said in a television interview on “Fox News Sunday,” two days after the Labor Department reported the worst quarter for corporate hiring in more than two years. “Fire Obama and hire Romney. That’s the best stimulus program for the country.”

As the November presidential election approaches and voters’ views of Democrat Obama’s performance solidify, the economy is lacking the job growth needed to bring down the unemployment rate. Joblessness, which held at 8.2 percent in June, has exceeded 8 percent since February 2009, the longest such stretch since monthly records began in 1948.

The Labor Department’s figures showed employers added 80,000 jobs last month, less than the median forecast in a Bloomberg News survey, after a 77,000 increase in May. Payrolls excluding government agencies rose 84,000 after a 105,000 gain in May.

Obama, speaking July 6 at a campaign stop in Poland, Ohio, said the new jobs were “a step in the right direction” though the economy has to grow “even faster.” Republican presidential candidate Mitt Romney called the jobs report “another kick in the gut.”

Not Working

Senate Minority Leader Mitch McConnell, a Kentucky Republican, said the economy needs to be the focus of the campaign. What Obama is doing “is not working” and discouraging private businesses from boosting payrolls, he said. Democratic defenders of the White House said today the severity of the financial crisis that sent unemployment to 10 percent in 2009 will require more time for a full recovery.

“It takes a while to dig out of that hole,” said former White House spokesman and Obama campaign aide Robert Gibbs on CNN’s “State of the Union” program. Gibbs also attacked Romney, accusing him of outsourcing U.S. jobs when he was at Boston-based Bain Capital LLC, which he co-founded.

Romney’s experience “has been in owning companies that were called ‘pioneers of outsourcing,’” Obama said July 5 while campaigning in Maumee, Ohio. “My experience has been in saving the American auto industry, and as long as I’m president, that’s what I’m going to be doing.”

Polls show that linking Romney to the outsourcing of U.S. jobs is an effective approach with voters in the swing states of Ohio and Pennsylvania, where Obama will end the trip.

Meanwhile, Barack Obama's campaign and top Democrats called on Mitt Romney to release more personal tax records and raised questions about his offshore assets that the Republican challenger's campaign condemned as an "unseemly and disgusting" character assault.

Democrats and Republicans tussled over the economy, but it was Romney's offshore assets that Democrats seized on during the Sunday talk shows in their quest to portray him as a wealthy man out of touch with ordinary Americans. Romney faces Obama in the Nov. 6 election and polls indicate a close race.

Democratic National Committee Chairwoman Debbie Wasserman Schultz raised the issue on "Fox News Sunday" as her interview time ran out.

"I'd really like to see Mitt Romney release more than one year of tax records, because there's been disturbing reports recently that he's got a Bermuda corporation, a secretive Bermuda corporation that no one knows anything about, investments in the Caymans, kind of Swiss bank account."

"Americans need to ask themselves why does an American businessman need a Swiss bank account and secretive investments like that?" Schultz said.

Obama campaign adviser Gibbs, on CNN's "State of the Union," called on Romney to release years of back tax records to allow scrutiny of his adherence to tax law. Asked whether Romney had broken the law, Gibbs said, "Well, we don't know."

"The one thing he could do ... to clear up whether or not he's done anything illegal - whether he's shielding his income from taxes in Bermuda or Switzerland - is to do what every other presidential candidate's done, and that's to release a series of years of their own tax returns," Gibbs said.

"This is a guy whose slogan is: 'Believe in America' - and it should be 'Business in Bermuda.' That's what Mitt Romney's all about," Gibbs said.

Romney's campaign fought back.

"The Obama campaign's latest unfounded character assault on Mitt Romney is unseemly and disgusting," said Andrea Saul, a Romney campaign spokeswoman.

The Associated Press has reported that an offshore company based in Bermuda has helped bolster Romney's wealth even though it did not appear on his state or federal financial reports for 15 years.

The Obama campaign released an online video on Sunday raising questions about Romney's offshore accounts. "Mitt Romney could be the first president in history to stash millions offshore so the American people deserve an explanation as to why he chose to invest in other countries known as tax havens rather than the United States," the campaign said in a statement.



Saul defended the Republican presidential challenger, saying, "Mitt Romney had a successful career in the private sector, pays every dime of taxes he owes, has given generously to charitable organizations, and served numerous causes greater than himself."

"Barack Obama has become what he once ran against - a typical politician willing to use false and dishonest attacks to save his job after failing to do his job," Saul said.

Romney, a multi-millionaire former private equity executive, is one of the richest men ever to run for U.S. president. He has an estimated net worth of up to $250 million.

Romney has released his 2010 returns and estimates for 2011 but has been reluctant to release more. In April, he requested an extension to file his 2011 tax forms while estimating his tax liability at $3.2 million for last year.

Four months before the presidential election, Democrats are seeking to portray Romney as out of touch with the plight of Americans in a struggling economy, while Republicans point to Obama's policies as inadequate for strong economic growth.

The latest data point in the political battle over which candidate is better for the U.S. economy was the June U.S. employment report on Friday that showed non-farm payrolls grew by 80,000 jobs and the unemployment rate stayed at 8.2 percent.

Republicans said it showed Obama's policies were not invigorating the economy, while Democrats said it pointed to movement in the right direction.

"Clearly what they're doing is not working," McConnell told CNN's "State of the Union" program. He called Obama's job creation record "terrible."

"People are unhappy with the economy. They know that Mitt Romney is a job creator," McConnell said.

Gibbs said the employment report showed that the economy was growing. "We've made progress, but we've got a long way to go."

Asked about the Obama campaign trying to define Romney as an outsourcer of jobs in a new ad, Republican National Committee Chairman Reince Priebus responded: "The only job that we need to make sure we outsource in this country is Barack Obama's job."

He said on "Fox News Sunday" that "Barack Obama hasn't done anything in regard to what he promised he would do and making sure that we have a level playing field with China. He's in the sand box with China every day. He hasn't stood up to China."

© 2023 Newsmax. All rights reserved.

Sunday, 08 July 2012 06:23 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
America's News Page
© Newsmax Media, Inc.
All Rights Reserved