Obama for America Releases New Television Ad: Heavy Load

9/3/12 6:21 AM

Obama for America Releases New Television Ad: Heavy Load

response-bounces@barackobama.com on behalf of Obama for America Press [press@barackobama.com]
Sent:Monday, September 03, 2012 6:08 AM To: Obama for America Press [press@barackobama.com]

For Immediate Release: Monday, September 3, 2012 Contact: Obama for America Press (312) 985-1198

Obama for America Releases New Television Ad: Heavy Load CHICAGOObama for America released a new television advertisement today titled Heavy Load that underscores the key differences between President Obama and Mitt Romneys visions for Americas middleclass. The President recognizes the heavy burden that the middle-class is carrying. Unfortunately, Mitt Romney just doesnt get it. Under Romneys plan, middle-class families with kids would pay $2,000 more in taxes, to pay for tax cuts for multi-millionaires who would receive an average $250,000 tax cut. President Obama understands the importance of a strong middle-class. He knows that the only way to take this country forward is by investing in an economy built to last. Instead of adding to the burden of the middle-class, President Obama will continue to invest in Americas future, by growing our economy from the middle out. Heavy Load will air in Colorado, Iowa, New Hampshire, Nevada, Ohio, Virginia, and Florida. Please click HERE to watch the new ad. AD VO: The middle class is carrying a heavy load in America. Visual: A young mom carrying her child; A man in hard hat lifting his lunch cooler out of his truck VO: But Mitt Romney doesnt see it. Visual: Photo of Romney buttoning his suit slides to the left. VO:
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Obama for America Releases New Television Ad: Heavy Load

9/3/12 6:21 AM

Under the Romney plan, a middle class family will pay an average of up to $2,000 more a year in taxes. Visual: Photo of Romney buttoning his suit on left. On right in a small box, a photo of a woman smiling. On screen above the box: Romney Plan Middle Class Families Will Pay $2000 More In Taxes Source: Tax Policy Center, 8/1/12

ROMNEYS TAX PLAN WOULD RAISE TAXES ON THE MIDDLE CLASS, AND MIDDLE CLASS FAMILIES WITH KIDS WOULD SEE AN AVERAGE TAX INCREASE OF $2,000 If Romneys Tax Plan Was Paid For, Taxpayers Making Less Than $200,000 Would See Average Tax Increases. [Tax Policy Center, On The Distributional Effects Of Base-Broadening Income Tax Reform, p. 16, 8/1/12] Politifact: To Make Romneys Plan Revenue Neutral, Those Making Less Than $200,000 Would See Outright Tax Increases. But to make Romney's plan revenue neutral, deductions would also have to be removed for people with incomes below $200,000, and the effects of that would be significant, the study found. In fact, the elimination of the deductions would mean outright tax increases for everyone with incomes below $200,000. People with taxable income between $50,000 and $75,000, for example, would see an average net tax increase of $641. Theyd save $984 from Romney's rate cut, but lose $2,672 in write-offs. [Politifact, 8/3/12]

If Romneys Tax Plan Was Paid For, Families With Kids Who Make Less Than $200,000 Would See An Average Tax Increase Of $2,041. [Tax Policy Center, On The Distributional Effects Of Base-Broadening Income Tax Reform, p. 18, 8/1/12] VO: While at the same time giving multi-millionaires like himself a $250,000 tax cut Visual: On the left, a profile photo of Romney. On the right in a small box, a photo of a mansion. On screen above the box: Romney Plan MultiMillionaires Get A $250,000 Tax Cut Source: Tax Policy Center, 8/1/12 ROMNEYS TAX PLAN WOULD GIVE MULTI-MILLIONAIRES A $250,000 TAX CUT If Romneys Tax Plan Was Paid For, The Top 0.1% Would See An Average Tax Cut Of $246,652. [Tax Policy Center, On The Distributional Effects Of Base-Broadening Income Tax Reform, p. 19, 8/1/12] ROMNEY IS A MULTI-MILLIONAIRE 2011: Romney Estimated Income Of $20.9
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Obama for America Releases New Television Ad: Heavy Load

9/3/12 6:21 AM

Million And Federal Taxes Of $3.23 Million. In an estimate of his 2011 taxes, the Romney campaign said Mr. Romney would pay $3.23 million in federal tax on $20.9 million in total income. [Wall Street Journal, 1/24/12] 2010: Romney Reported $21.7 Million In Income, Paid $3 Million In Federal Income Tax, And Made $2.98 Million In Charitable Donations. Mr. Romney reported $21.7 million in income. He paid $3 million in federal taxes, slightly more than the $2.98 million he made in charitable donations. At least $1.5 million of his charitable donations went to the Mormon Church. [Wall Street Journal, 1/24/12] Romney Said His Net Worth Was Between 150 And 200-And-Some-Odd Million Dollars. Ramos also asked Romney flat out, How much money do you have? Romney responded: Actually I disclosed a financial disclosure statement all of my assets are known and I think the estimate in there was a pretty wide range its been widely reported and my net worth is within that number. Its between 150 and 200-and-some-odd million dollars. [ABC News, 1/25/12] VO: So, Romney hits the middle class harder Visual: On the left, same woman as above in a small box. On the right in a small box, a photo of a mansion. On screen: Romney Plan Hits The Middle Class Harder VO: And gives millionaires an even bigger break. Visual: On screen: Gives millionaires a big tax break VO: Is that the way forward for America? Visual:
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Obama for America Releases New Television Ad: Heavy Load

9/3/12 6:21 AM

Photo of Romney on right On screen: Is that the way forward for America? VO: Im Barack Obama and I approve this message. Visual: Approved by Barack Obama. Paid for by Obama for President. ###

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