"In the debate Gov. Romney said that he wasn't really going to cut taxes on upper-income people, he only wanted to cut taxes on middle-class people. That's not true," says Clinton in the video.
In the Web video, Clinton accuses the GOP nominee of misleading the public about the impact of the tax plan. He blasts Romney's proposal for not "being close" to plugging the debt hole, and says it would provide a tax break to the wealthy.
"We simply cannot afford to give another round of tax cuts to people who got the benefit of the tax cuts and the economic growth over the last decade. It hasn't worked before and it won't work this time," Clinton said.
The former president delivered a similar message during his speech last month at the Democratic National Convention, where he talked through Romney's tax proposals and aimed to punch holes in the former Massachusetts governor's agenda.
The Romney campaign on Tuesday countered by slamming Obama for ushering in an "era of big-government policies" that has exploded the debt.
“Four years ago at Hofstra University, President Obama promised to deliver a ‘new direction’ on debt. This is one promise the president unfortunately kept, amassing more debt than any other president in history. And a second Obama term is threatening to drive the debt even higher, to a record $20 trillion," said Romney campaign spokeswoman Andrea Saul in a statement. "Americans simply can’t afford four more years like the last four years."
"Mitt Romney will take immediate action to slash spending, cut the deficit and end President Obama’s era of big-government policies,” she added.
Obama and Romney will go head to head Tuesday night at Hofstra University in New York in the second of three presidential debates.