Obama in Boone: Bring Back Clinton Era Tax Rates
President Barack Obama spoke at the Herman Park Pavilion on Monday. It was his second planned public stop in a three-day bus tour of Iowa.
President Barack Obama said on Monday he wants anyone making more than $250,000 a year to go back to the tax rates of the Bill Clinton era.
During that time, 23 million jobs were created, Obama told the crowd at the Herman Park Pavilion in Boone on Monday.
"And, we had the biggest budget surplus in history and the millionaires did pretty good, too," he said to a crowd of about 2,200 people.
His Boone visit was the second planned stop on a three-day tour of the state in which the President planned to discuss his plan to bolster economic security of the middle class. His words were often drowned out by cheers and applause from the crowd. People shouted "We can do it," "We got your back," and "Four More Years!"
After Obama's 30 minute speech he and his entourage planned to swing through the Iowa State Fair, following a raucous visit by GOP vice presidential candidate, Paul Ryan, earlier today.
Obama said he plans to build the economy from the middle class up, not from the top down, and has already cut taxes for an average family by $3,600, which he promised when running in 2007. He said Monday that he wouldn't raise taxes on anyone earning less than $250,000 a year, about 98 percent of the population.
Since Mitt Romney announced Rep. Paul Ryan as his running mate, Obama has called their economic plan “trickle-down fairy dust."
He said the same in Boone Monday. Romney wants to cut regulations and taxes for the wealthy Obama said.
"They tried to sell us that trickle-down fairy dust before. It didn't work then and it will not work now," he said.
Obama said more tax cuts for the wealthy isn't what the country needs.
"We need tax relief for middle class families," Obama said to loud cheers.
Mitt Romney's tax plan would increase taxes on middle-class Americans by as much as $2,000 annually, according to independent analysis of his proposal.
Obama said Romney's $5 trillion tax cut is equal to eliminating the $500 billion annual defense budget for 10 years.
Obama will take his middle-class economics message to Oskaloosa, Marshalltown and Waterloo on Tuesday and finally to Dubuque and Davenport on Wednesday. First Lady Michelle Obama plans to join him on the final day.
University of Northern Iowa professor Christopher Larimer said Obama has the advantage when it comes to voter perception of his relatability and personal appeal, but Romney has the advantage in voter perception when it comes to the economy.
However, Story County Democrat Chair Jan Bauer, of Ames, said she feels that Obama saved the country from a second Great Depression.
“I don't think anyone knows how close we were to financial collapse,” Bauer said.
Disabled veteran Billy Langham and said neither party is to blame for today's economic distress.
“Technology has taken some companies to a different place,” Langham said. “That's not a Republican or a Democrat thing. It's just a business thing."
But Story County Republican Chair Cory Adams seems to side with Larimer, saying last week that Romney is what the economy needs.
“Romney has been a CEO of a company. He knows how taxes and regulations affect business' ability to hire and grow,” Adams said.
Obama told the crowd Monday that Romney's campaign would spend more money than they had ever seen and basically repeat the same commercial. They would say that the economy is not where it should be and that it's all Obama's fault he told the crowd.
"They are not right," an audience member screamed.
Obama stopped to agree before saying that Romney and Ryan will repeat that message because they don't have a plan to create jobs or grow the economy.
"I got that plan and we can make it work. ... If you guys get involved we can't lose," Obama said.
After the speech, Bauer who watched from the front row said she believes that voters are just as energized as in 2008.
“People were waiting out in the hot sun for 90 minutes for a bus, a couple people collapsed, but look at this room it is rocking.”