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Entries in Tax Increase (1)

Monday
Sep192011

GOP Presidential Contenders Critical Of Obama's Deficit Reduction Plan

President Obama is taking some harsh criticism from a group of individuals over his new proposal to hike taxes on the wealthiest Americans to help pay for his newly unveiled jobs bill.

That group? The GOP presidential field.

Rep. Michele Bachmann, who’s seen her status in the field dip in recent weeks, called Obama’s plans “gimmicks” and simply said “you don’t create jobs by increasing taxes on job creators.”

“If Warren Buffet believes he doesn’t pay enough taxes, then he should write a check today to the Treasury,” Bachmann said in a statement. “He and the President shouldn’t enact warfare on the millions of small businesses, charities and on middle class America with increased tax burdens.”

Rep. Ron Paul (R-Texas) recently emerged victorious in this weekend’s California Straw Poll and his national poll figures have followed suit. Paul now sits just behind former Massachusetts Governor Mitt Romney and Texas Governor Rick Perry.

In response to Obama’s new proposal, Paul said that by increasing taxes on the “so-called rich,” the president is actually targeting small businesses. Paul continued by saying the President’s policies are putting Americans in opposition with each other, stopping just short of using the words “class warfare,” a term that has grown in popularity among conservatives critical of Obama’s plan.

“The President’s class-baiting rhetoric categorizes Americans into opposing groups and pits them against one another, purely for his own political gain,” Paul said.

Romney, who prides himself as a guy who knows the mechanics of the economy and a job creating guru, argued that higher taxes will only be detrimental to economic growth.

“Higher taxes mean fewer jobs - it’s that simple,” Romney said. ” This is yet another indication that [Obama] has no clue how to bring our economy back.”

Perry shot right to the top after joining the GOP presidential field, using Texas’ job creation numbers as a staple in his new White House campaign. Perry tagged Obama’s proposal as a “bait and switch” plan that would only provide temporary tax relief as a trade off for higher taxes.

“The President penalizes investment when it is needed most,” Perry said. “Worst of all, the Obama plan fails to provide the certainty employers need to create jobs and the spending and deficit reduction our economy needs.”

The candidates will likely address and dissect the President’s American Jobs Act and his proposal to pay for it at their next debate this Thursday, Sept. 22 in Orlando, Fla.