Political Checklist: Tax Talk and Name Calling

POLITICAL CHECKLIST -- July 9, 2012 at 4:20 PM EDT

Political Checklist: Tax Talk and Name Calling

Judy Woodruff, Gwen Ifill and I talked Monday about the other thing heating up Washington this week: tax cuts.

It might sound wonkish but it's actually all about politics, noted Woodruff in our chat.

In his announcement Monday, President Obama defended his plan to extend tax cuts for those earning less than $250,000 a year by saying bolstering the middle class would help rebuild the economy.

The speech was intended to define his November rival Mitt Romney to voters as elitist and out of touch with regular Americans.

In our discussion, Gwen noted that Romney's campaign is fighting back. He wants to define Mr. Obama as a "failed president," she said.

Watch the NewsHour at 6 p.m. ET Monday for more on the tax cut debates.

While it's a race to the middle on the tax issue, both candidates continue to fill their coffers. The Romney campaign broke the $100 million fundraising mark in June.

Katelyn Polantz shot and edited this video, and creative director Travis Daub assisted with production.

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