Mitt Romney Talks Taxes on Tax Day

(Image Credit: Emmanuel Dunand/AFP/Getty Images)

PITTSBURGH - Sitting down with four families today at a picnic table filled with pitchers of lemonade and bowls of potato chips, Mitt Romney vowed to overhaul the tax system but not raise taxes on the wealthy. And he urged Americans to file their taxes, or like he did, get an extension.

"So my view is that the right course for America is to keep our tax burdens down to encourage small businesses to grow and hire and to make it easier for middle-income families, but the president's orientation is to raise taxes and I happen to think that will slow economic growth which is already slow and make it more difficult for us to create the jobs that people need," said Romney.

"I would actually like to reshape the entire tax system, alright, that is what I'd like to do, and to simplify the system as opposed to all these little baby steps," explained Romney. "I'd like to bring the rates down across the board by 20 percent and then limit deductions and exemptions, and particularly for those at a higher income level because I'm not looking to find a reduction in the burden paid by the top income earners."

"I want the top income earners to continue to pay the share they're paying now. But I do want to help middle income families find a way to make it easier to make ends meet," said Romney. "So I hope I can get the rates down in a such a way that you'll find the tax burden less," he said. "By the way if you don't have to pay any money, any taxes on your interest or dividends or capital gains, that simplifies all the records of when you bought this mutual fund and did you sell this - I just want to make it a heck of a lot easier."

Romney's campaign revealed last week that he had filed an extension on his 2011 income tax return and would release the documents when they are ready, sometime in the next six months.

"I just wanted on this tax day, actually, to start by reminding you to file your taxes or your extension, one or the other, and note that there are some differences in the campaign coming forward, which is the president, our current president, is intent on raising tax rates, particularly for small business," said Romney, who sat at the head of the table in dress pants and a tie.

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