Obama blasts Romney’s corporate tax proposals

Associated Press

CINCINNATI

President Barack Obama on Monday mocked Mitt Romney’s economic vision, saying the only jobs plan his Republican rival has would create plenty of work for people overseas.

Campaigning in battleground Ohio, Obama again tried to erode Romney’s credentials as a businessman equipped to fix the sluggish economy.

The president said Romney’s proposal to free companies from taxes on their foreign holdings would lead to job creation abroad, not at home. He cited a new tax analysis that concludes that such a tax policy could displace American workers.

“I want to give tax breaks to companies that are investing right here in Ohio, that are investing in Cincinnati,” Obama told a supportive crowd in the first official town-hall event of his re-election campaign. “I want to give incentives to companies that are investing in you, the American people, to create American jobs making American goods. ... That’s why I’m running for president of the United States.”