Gov. Mitt Romney On The "Pocket" Ad Distortions

"Well, that's really sad. I didn't know that Barack Obama had stooped to dishonesty." -- Gov. Mitt Romney

Gov. Mitt Romney
CNN's "American Morning"
August 4, 2008

CNN's Kiran Chetry: "Your response?"

Gov. Mitt Romney: "Well, that's really sad. I didn't know that Barack Obama had stooped to dishonesty. You know, pointing out weaknesses in other people's campaigns or positions is also fair game, but that's dishonest, as you know. First of all, corporations are not allowed to give contributions to candidates, and employees of oil companies give to Barack Obama as well as to John McCain. So, that's part number one that's dishonest. And, number two, John McCain doesn't ask for any tax reduction for oil companies. There's no special deal going to oil companies. He's asking to reduce taxes on all corporations to help build our economy and strengthen jobs as well as reducing taxes on individuals. So, it's simply dishonest as well as below the belt."

Chetry: "Just to clarify. According to The Washington Post, oil and gas industry executives and employees donated $1.1 million to John McCain's campaign last month. So, I think that is what he's referring to in that ad."

Gov. Romney: "But what you don't point out is the employees and executives of the oil companies also gave money to Barack Obama and to suggest that they only gave to John McCain is dishonest. There's no indication that that's the case. In fact, individuals can give to candidates of both parties and they regularly do."

Chetry: "Right. Well, let me just ask you about this, because if John McCain became president, he wants to lower the corporate tax rate by 10%, so 35% down to 25% and that would include companies like big oil and Exxon Mobil who took in $12 billion last quarter alone. How do you explain that to the everyday Joe who's seeing a larger chunk of their paycheck taken up by high gases prices and these oil companies are going to see more money in their pockets while the average guy is seeing less?"

Gov. Romney: "Well, first of all, he's lowering taxes for all corporations in America to help make us more competitive with other nations of the world where corporations are going, because we have the highest corporate tax rate in the world next to Japan. So, he's trying to build our economy and create more jobs and he's not singling out any one company or another."

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