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STAMFORD, Conn. President Barack Obama called out Mitt Romneys plan for a $5 trillion tax cut during a fundraiser in Stamford Monday, saying such a reduction would take from the middle class to help those who make more than $3 million a year, according to a transcript released from the White House.
Its like Robin Hood in reverse. Its Romney Hood, the president said in the transcript, using what he called an independent, non-partisan organizations study of Romneys plan as support for his statement.
Obama told a gathering at the Stamford Marriott that taxes on the middle class would go up about $2,000 a year to help people who make over $3 million a year would receive an additional $250,000 in cuts, the transcript said.
He said he is running for a second term to secure tax cuts for working-class families so they can provide for their children. He added that in his first term he has cut taxes on the middle class by about $3,600, and wants to keep taxes where they are on the first $250,000 made.
If your family makes under $250,000 ? like 98 percent of Americans do ? you will not see your income taxes increase by a single dime next year, Obama said.
Click here to read the entire transcript from the event.
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