Your terms of service prohibit you from removing that content:
Attribution. Automattic reserves the right to display attribution links such as ‘Blog at WordPress.com,’ theme author, and font attribution in your blog footer or toolbar. Footer credits and the WordPress.com toolbar may not be removed regardless of upgrades purchased.
Here at wordpress.com you cannot edit your php files. If you have the custom design upgrade, you can edit your CSS files. Of course if you use the wordpress.org version of the software on a hosted site you may edit any of the files.
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