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Romney, Obama joust over tax plans and debt

Tuesday - 10/16/2012, 10:01pm  ET

HEMPSTEAD, N.Y. (AP) - Mitt Romney and Barack Obama both say their tax plans would benefit the middle class and spur job creation, and both are suggesting their opponent's plan would do the opposite.

Romney says cutting tax rates across the board would spur job growth. He says bringing rates down makes it easy for small businesses to keep more of their capital and hire more workers.

But Obama, who supports raising tax rates on upper incomes, says Romney's proposed tax cuts and his calls for increased military spending would add trillions to the federal debt.

Obama said to Romney, a former businessman, quote, "You wouldn't have taken such a sketchy deal."

He says the American people shouldn't accept that deal either.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)