said that Romney would increase taxes on middle class Americans so that he could give the top 2 percent of earners a tax cut.

"It’s like Robin Hood in reverse," Obama charged. "It’s Romney Hood.”

During an interview with Fox News on Tuesday, the GOP candidate fired back.

"We've been watching the president say a lot of things about me and about my policies, and they're just not right," Romney told Fox News' Carl Cameron.

"And if I were to coin a term it would be 'Obamaloney.' He's serving up a dish which is simply in contradiction of the truth, and it relates to everything from how I'm going to help the middle class to tax policy. He's just simply saying things that are not accurate."

An independent analysis released last week by the nonpartisan Tax Policy Center determined that Romney's plan to slash tax rates by 20 percent would actually mean that 95 percent of Americans would pay an average of $500 more per year, while millionaires would see a $87,000 cut in their taxes.

The Romney campaign has called the study "biased" and "a joke."