Obama mocks Romney's "trickle-down, tax cut fairy dust" plan

Source: CBS

(CBS News) President Obama on Thursday once again slammed Mitt Romney for his budget proposal, telling supporters at an Orlando, Fla., campaign event that Republicans "have tried to sell us this trickle-down, tax cut fairy dust before."

"Guess what," the president said, "it didn't work then; it will not work now."

The president has seized on a new report from the Tax Policy Center, which concludes that in order to enact his proposed tax cuts without adding to the deficit, middle- and lower-income households would end up paying more in taxes while the rich would benefit. On the campaign trail, Mr. Obama has charged that Romney is running for president so "people like him" can pay less in taxes.

The Romney campaign has blasted the report, taking issue with its methodology as well as its authorship, pointing out that one of the authors once worked for the Obama administration.

Read more: http://www.cbsnews.com/8301-503544_162-57485680-503544/obama-mocks-romneys-trickle-down-tax-cut-fairy-dust-plan/