2012 Democratic National Convention speeches: on Tax Reform

Barack Obama: No tax breaks for millionaires; GOP always wants tax cuts

They want your vote, but they don't want you to know their plan. And that's because all they had to offer is the same prescription they've had for the last 30 years:

"Have a surplus? Try a tax cut."

"Deficit too high? Try another."

"Feel a cold coming on? Take two tax cuts, roll back some regulations, and call us in the morning."

Now, I've cut taxes for those who need it, middle-class families, small businesses. But I don't believe that another round of tax breaks for millionaires will bring good jobs to our shores, or pay down our deficit. I don't believe that rolling back regulations on Wall Street will help the small businesswoman expand, or the laid-off construction worker keep his home. We have been there, we've tried that, and we're not going back. We are moving forward.

Tom Vilsack: GOP tax cuts & deregulation hurt middle-class families

Julian Castro: Stop taking from middle class & favoring the rich

Tim Kaine: No budget-busting tax cuts; we can't afford to try it again!

To pay for their plan, they'd slash middle-class tax breaks, raising taxes on the middle class. They'd turn Medicare into a voucher system. And rather than raise taxes on the wealthy by a single penny, they'd put thousands of defense jobs at risk. Let's be clear: That's not fiscally responsible. That's fiscally reckless.

We can't afford to try it again! We need to move forward, because while we've made progress, we still have a long way to go. We'll only get there if we elect leaders who put results ahead of ideology.