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Obama isn't for killing medicare. You've been lied to. The 716 billion isn't cutting money from benefits. The cuts are being made on the provider/hospital side to curb waste, fraud and abuse in the program.

So, I guess to answer your question, Romney's 20% income tax cut is worse, because that is something that he actually proposed, rather then something that's been made up and blown out of proportion.

I would also like to add that the medicare reform proposed by Romney running mate Paul Ryan contained those same cuts to medicare providers, for the same reasons.