Obama and Romney: Where they stand on the issues

By Calvin Woodward

Associated Press

Published: Wednesday, Oct. 10 2012 1:18 p.m. MDT

Romney: Promises to work for repeal of the law modeled largely after his universal health care achievement in Massachusetts because he says states, not Washington, should drive policy on the uninsured. Says he would protect people with pre-existing conditions, though his plan only does so for those who maintain continuous coverage, not a major change from federal protections in effect before Obama's health care overhaul. Would expand individual tax-advantaged medical savings accounts and let savings be used for insurance premiums as well as personal medical costs.

IMMIGRATION:

Obama: Issued directive in June that immigrants brought illegally to the United States as children be exempted from deportation and granted work permits if they apply. Took the temporary step after failing to deliver on promised immigration overhaul, with the defeat of legislation that would have created a path to citizenship for young illegal immigrants enrolled in college or enlisted in the armed forces. Says he is still committed to it. Government has deported a record number of illegal immigrants under Obama.

Romney: Favors U.S.-Mexico border fence, opposes education benefits to illegal immigrants. Opposes offering legal status to illegal immigrants who attend college, but would do so for those who serve in the armed forces. Would establish a national immigration-status verification system for employers and punish them if they hire noncitizens who do not prove their authorized status. Would end visa caps for spouses and minor children of legal immigrants. Would honor work permits for immigrants who benefit from Obama's new policy and promises to put a comprehensive immigration plan into place before those permits expire.

MEDICARE:

Obama: His health care law improves coverage for beneficiaries with high prescription costs and removes co-pays for a set of preventive benefits. It also cuts Medicare spending for hospitals and other providers by more than $700 billion over a decade. Those cuts are being used to provide health insurance to more working-age Americans, and the government also counts them as extending the life of the program's giant trust fund. But he hasn't ruled out increasing costs for middle-class and upper-income Medicare recipients or raising the eligibility age to 67 from 65.

Romney: Introduce "generous" but undetermined subsidies to help future retirees buy private insurance or join a government plan modeled on traditional Medicare. Gradually increase eligibility age to 67. Repealing Obama's health care law would roll back improved benefits for seniors unless Congress acts to protect them. It also would reverse Obama's Medicare cuts to hospitals and other providers, which could hasten insolvency of Medicare's trust fund.

SOCIAL SECURITY:

Obama: Has not proposed a comprehensive plan to address Social Security's long-term financial problems. In 2011, proposed a new measure of inflation that would reduce annual increases in Social Security benefits. The proposal would reduce the long-term financing shortfall by about 25 percent, according to the Social Security actuaries.

Romney: Protect the status quo for people 55 and over but, for the next generation of retirees, raise the retirement age for full benefits by one or two years and reduce inflation increases in benefits for wealthier recipients.

TAXES:

Obama: Wants to raise taxes on the wealthy and ensure they pay 30 percent of their income at minimum. Supports extending Bush-era tax cuts for everyone making under $200,000, or $250,000 for couples. But in 2010, agreed to a two-year extension of the lower rates for all. Wants to let the top two tax rates go back up 3 to 4 percentage points to 39.6 percent and 36 percent, and raise rates on capital gains and dividends for the wealthy. Health care law provides for tax on highest-value health insurance plans. Together with Congress, built a first-term record of significant tax cuts, some temporary.

Romney: Keep Bush-era tax cuts for all incomes and drop all tax rates further, by 20 percent, bringing the top rate, for example, down to 28 percent from 35 percent and the lowest rate to 8 percent instead of 10 percent. Curtail deductions, credits and exemptions for the wealthiest. End Alternative Minimum Tax for individuals, eliminate capital gains tax for families making below $200,000 and cut corporate tax to 25 percent from 35 percent. Does not specify which tax breaks or programs he would curtail to help cover costs.

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