ROMNEY: So if the tax plan he described were a tax plan I was asked to support, I'd say absolutely not. I'm not looking for a $5 trillion tax cut. What I've said is I won't put in place a tax cut that adds to the deficit. That's part one. So there's no economist that can say Mitt Romney's tax plan adds $5 trillion if I say I will not add to the deficit with my tax plan. Number two, I will not reduce the share paid by high-income individuals.

I know that you and your running mate keep saying that and I know it's a popular thing to say with a lot of people, but it's just not the case. Look, I've got five boys. I'm used to people saying something that's not always true, but just keep on repeating it and ultimately hoping I'll believe it. But that -- that is not the case. All right? I will not reduce the taxes paid by high-income Americans.

About 35 minutes into the debate, during a conversation about how to reform the tax code in a way that increases economic growth and does not increase the deficit, Obama began to hit Romney as a champion for tax breaks for oil and gas companies.

"I’ve identified areas where we can, right away, make a change that I believe would actually help the economy," Obama said. "The oil industry gets $4 billion a year in corporate welfare. Basically, they get deductions that those small businesses that Governor Romney refers to, they don’t get. Now, does anybody think that ExxonMobil needs some extra money when they’re making money every time you go to the pump? Why wouldn’t we want to eliminate that?"

Romney pounced.

"First of all, the Department of Energy has said the tax break for oil companies is $2.8 billion a year. And it’s actually an accounting treatment, as you know, that’s been in place for a hundred years."

"It’s time to end it," Obama said, cutting in.

"And in one year, you provided $90 billion in breaks to the green energy world. Now, I like green energy as well, but that’s about 50 years’ worth of what oil and gas receives," Romney said. He added: "And you say Exxon and Mobil. Actually, this $2.8 billion goes largely to small companies, to drilling operators and so forth."

Romney then added that under his tax reform plan, if he is successful in getting the corporate tax rate lowered, the $2.8 billion oil subsidy is "probably not going to survive."

"But don’t forget, you put $90 billion -- like 50 years worth of breaks -- into solar and wind," Romney said, continuing that some of those investments were total failures, like Solyndra.

I know this gets said every debate, but I hate hate HATE how politicians don't answer the specific question being asked. Both sides do this, and it drives me nuts. I don't care if it takes all night-- I would love a tough moderator that refused to go on until a direct answer is made, no matter how long it takes to get it. Lock them in and make them do it.

To bad not all americans are full educated on the facts and must depend on television to get their answers.

I love how the Republicans like to throw out the gas prices quip. Yeah, gas was 1.89 when he took office. It was also 4.11 six months before that.