The Truth-o-Meter says: True | Barack Obama says Mitt Romney's tax plan gives millionaires an average tax cut of $250,000

President Barack Obama has repeatedly argued that his Republican rival Mitt Romney is pursuing policies that favor the rich. Recently, Obama offered a specific claim about how wealthier Americans would benefit from Romney’s tax plan. In a May 5, 2012, campaign speech in Columbus, Ohio, Obama said, "My opponent won’t tell us how he’d pay for his new, $5 trillion tax cut -- a tax cut that gives an average of $250,000 to every millionaire in this country." We wondered whether Romney’s tax proposal really would be so generous to millionaires. ...

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