Romney Campaign Press Release - Why The "Zombie Economy"? Massive Obama Tax Hikes

"Americans are struggling in a 'zombie economy' and President Obama's only answer is to pass one of the largest tax hikes in history. President Obama's tax increases on families and job creators will create more economic uncertainty and fewer opportunities for struggling middle-class families. From Day One, Mitt Romney will take action to lower marginal rates, help middle-class Americans save and invest, and jumpstart economic growth and job creation." —Amanda Henneberg, Romney Campaign Spokesperson

President Obama's Economy Is Stuck In Neutral, Causing Many Experts To Worry About A "Zombie Economy":

CNBC Headline: "Signs We Are Approaching A Zombie Economy" (Patti Domm, "Signs We Are Approaching A Zombie Economy," CNBC, 7/6/12)

"The American Job Machine Has Jammed" And Has Settled Into A "Summer Slump For The Third Year In A Row." "The American job machine has jammed. Again. The economy added only 80,000 jobs in June, the government said Friday, erasing any doubt that the United States is in a summer slump for the third year in a row." (Paul Wiseman, "US Economy Adds 80,000 Jobs In Another Weak Month," The Associated Press, 7/7/12)

Last Month, U.S. Employers "Hired At A Dismal Pace." "U.S. employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy and further imperiling President Barack Obama's chances of reelection in November." (Jason Lange, "U.S. Hiring Stuck In Low Gear In June," Reuters, 7/6/12)

"The Weakest Job-Adding Quarter In Two Years..." HARWOOD: "Just 80,000 jobs added in the month of June, Michelle. 8.2% unemployment rate, unchanged, 12.7 million unemployed people, also unchanged. That makes the second quarter the weakest job-adding quarter in two years, an average of 75,000 jobs added in the second quarter of this year." (CNBC's "Squawk Box," 7/6/12)

What's Helping Create The Zombie Economy? President Obama's Plan For One Of The Largest Tax Increase In History:

"[President Obama] Is Setting Up The U.S. Economy For One Of The Biggest Tax Increases In History In 2013." "President Obama unveiled part two of his American Jobs Act on Monday, and it turns out to be another permanent increase in taxes to pay for more spending and another temporary tax cut. No surprise there. What might surprise Americans, however, is how the President is setting up the U.S. economy for one of the biggest tax increases in history in 2013." (Editorial, "The 2013 Tax Cliff," The Wall Street Journal, 9/14/11)

• "The Only Thing That You Can Be Certain Will Become Law" In A Second Obama Term Is A "Monumental Tax Increase." "The only thing that you can be certain will become law in this budget if Mr. Obama is re-elected is the monumental tax increase. His plan would raise tax rates across the board on anyone or any business owners making more than $200,000 for individuals and $250,000 for couples." (Editorial, "The Amazing Obama Budget," The Wall Street Journal, 2/14/12)

President Obama's Tax Plans Would Come "At The Expense Of Smaller Businesses That File As Individuals" By Hiking Their Marginal Rates To "41% Or More." "By contrast, President Obama's proposal yesterday (see below) to cut the corporate rate to 28% from 35% wouldn't apply to this 'pass-through' business income. It would thus favor big corporations at the expense of smaller businesses that file as individuals and would see their marginal rate rise to 41% or more under Mr. Obama's plan to raise individual tax rates." (Editorial, "Romney's Tax Reboot," The Wall Street Journal, 2/23/12)

• President Obama's Massive Tax Hikes "Would Mean Higher Taxes On 53 Percent Of Business Income Reported On Individual Returns." "President Barack Obama's plan to raise tax rates for the top 2 percent of U.S. households would mean higher taxes on 53 percent of business income reported on individual returns, according to the Joint Committee on Taxation. The nonpartisan analysts prepared the data at the request of Republicans on the Senate Finance Committee." (Richard Rubin, "Obama Plan Means Higher Taxes On 53% Of Business Income: Study," Bloomberg, 6/19/12)

And President Obama's Latest Tax Hike Plan Is On Top Of The Billions In Job-Destroying Tax Hikes In Obamacare:

The Nonpartisan Congressional Budget Office Estimated That Obamacare Will Raise Taxes By More Than $500 Billion Over Its First 10 Years. (CBO Director Douglas W. Elmendorf, Testimony, U.S. House Of Representatives, 3/30/11)

• Obamacare Contains "The Largest Tax Increase Since 1993." "Keep in mind that Mr. Obama has already signed the largest tax increase since 1993. While everyone focuses on the Bush tax rates that expire after 2012, other tax increases are already set to hit the economy thanks to the 2010 Affordable Care Act." (Editorial, "Taxes Upon Taxes Upon...," The Wall Street Journal, 7/11/11)

Obamacare Contained A New Tax On Medical Devices That Could Force Businesses To Shift More Than 40,000 Jobs Overseas. "The medical device industry says it could lose 10 percent of its U.S. workforce because of a tax created by healthcare reform. The Advanced Medical Technology Association (AdvaMed) released a report Wednesday that says device-makers might ship 43,000 jobs overseas once the tax takes effect in 2013." (Sam Baker, "Device-Makers Say Tax Will Cost 43,000 US Jobs," The Hill, 9/7/11)

• "Diana Furchtgott-Roth, A Senior Fellow At The Hudson Institute, Said Device Firms Are Already Moving Their Operations To Other Countries And That The Trend Will Accelerate If The Device Tax Is Left In Place." (Sam Baker, "Device-Makers Say Tax Will Cost 43,000 US Jobs," The Hill, 9/7/11)