Lindsey Graham: 'Stupid' to let tax cuts for wealthy expire

South Carolina Republican Sen. Lindsey Graham on Sunday said President Barack Obama's plan to let tax cuts for the wealthiest Americans expire was "stupid."

During an interview on CNN, host Candy Crowley asked Graham if he would be willing to raise taxes on the middle class if Democrats refused to extend tax cuts for people making over $250,000.

"I'm not going to do a short-term thing that's stupid," the South Carolina Republican remarked. "It would be stupid in an economy this weak to raise tax rates on a million small businesses at a time they can't hire people now."

"If you're looking for a job, this election is not about Romney's tax returns, it's about your tax returns," he continued. "Both candidates should pledge, 'If I get to be president of the United States, we're going to do Bowles-Simpson [debt-cutting plan].'"

"And neither one of them has," Crowley noted.

"I think Romney has said he would embrace Bowles-Simpson," Graham insisted. "The fact that he rejects raising taxes at a time our economy is so weak is a good sign of leadership."

Earlier this year, the Republican-controlled House of Representatives rejected a plan similar to the bipartisan Bowles-Simpson proposal.

Watch this video CNN's State of the Union, broadcast Aug. 5, 2012.