Mitt Romney Tax and Spending Cuts Revealed to Rich Only

President Obama  wants Mitt Romney to come clean on everything from his tax returns to his plans for the U.S. economy.

They say - or at least want to create the impression - that Romney is hiding something, and Team Obama got a big gift last night when a few intrepid reporters overheard Romney's remarks to a well-heeled crowd of south Floridians at a private fundraiser in Palm Beach.

There, as the Wall Street Journal's Sara Murray reports, the presumptive Republican nominee, "offered the first details of deductions he would eliminate or limit in order to offset the income tax cut he has proposed for all taxpayers." http://on.wsj.com/JmBs8B

Those details included cutting the budget of the Department of Education and the Department of Housing and Urban Development as well as eliminating or lowering tax deductions for Americans who own second homes.

A spokesman for the Obama re-election effort, Ben LaBolt, sent news clips of the fundraiser around with the message:  "Apparently Gov. Romney believes only high dollar donors have a right to know what programs he will cut."

And, as many Americans spent the weekend putting the finishing touches on their tax returns, two Democratic-allied super PACS, American Bridge 21st Century, and Priorities USA Action, have jointly released a new website: http://releaseyourreturns.com/

The site, with a headline that reads, "What's Mitt Hiding?" invites users to sign a petition demanding that Romney release his returns. Last week his campaign announced the Romneys had filed an extension on their taxes, allowing them to file anytime over the next six months.

So far, the Romney campaign's response has been to announce a conference call on what they are calling "President Obama's tax and spend culture" with former senator Jim Talent, a senior economic adviser to Romney.