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Romney's tax plan strongly favors the rich- is anyone surprised ?

2012 Obama 2012/03/02 18:32:18
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Does it surprise anyone that Romey's proposed tax plan favors the rich like him that own corporations paying almost no taxes and a personal tax rate of 14% while hiding their money off-shore in dozens of nameless accounts ?

Come on Conservatives- are you really now the party of the rich that screws over the middle class ? What happened to that average Joe middle class working peoples candidate you said you were going to run ? Where are your principles!!!

"Mitt Romney's new tax plan strongly favors the wealthiest Americans, offering earners in the top 20 percent an average tax cut of more than $16,000 while raising taxes on the bottom 20 percent of earners, according to an analysis from a non-partisan Washington think tank.

The analysis out Thursday from the Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution think tanks, finds that the bottom 20 percent would see their average federal tax rate increase $149, or 1.3 percent.

The top 20 percent, meanwhile would see an average tax cut of $16,134 - a 5.4 percent reduction in their tax rate. The top one percent of earners would see their average tax rate fall by nearly $150,000 per year, and the top 0.1 percent would see a reduction of more than $725,000.

Romney's original plan called for making the Bush-era tax cuts permanent, getting rid of the estate tax (now paid only by those with estates worth $5 million or more), getting rid of taxes on investment income for those making less than $200,000, and lowering the corporate tax rate ten points to 25 percent. Last week he said he would also cut marginal, individual income tax rates by 20 percent for everyone who pays taxes.

According to the Tax Policy Center, Romney's plan would add $900 billion to the deficit in 2015, when the changes would go into full effect. The group has also found that the 20 percent tax cut, combined with Romney's proposal to repeal the Alternative Minimum Tax, would add $3 trillion to the deficit over ten years - even if the Bush-era tax cuts and more recent tax cuts are extended. (That part of the analysis looked only at the impact of those two proposals, not Romney's tax plan overall.)"

http://www.cbsnews.com/8301-503544_162-57389459-503544/analys...
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  • Kaleokualoha 2012/03/02 18:47:52
    I can't believe Conservatives would elect Romney...
    Kaleokualoha
    +1
    Barry Goldwater deja vu?
  • 2012 Obama 2012/03/02 18:37:43
    I can't believe Conservatives would elect Romney...
    2012 Obama
    My Dad and brothers and most of my family are Conservatives and they would never lower their standards to vote for Romney who is the antipathy of conservatism.

    I am a fiscal Conservative and Social moderate and can not believe the Conservatives are accepting Romney just because the GOP and corporations decided he is their man.

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2014/09/30 05:56:27

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