NORTON META TAG

03 August 2012

Study: Romney Plan Increases Taxes On 95% Of Americans 1AUG12 & Study Says Romney's Tax Plan Would Most Benefit Wealthy Americans 2AUG12

HERE is an analysis of mitt romney's tax plan for America, which will grant tax relief to the suffering rich and corporations by increasing taxes on 95% of all Americans. See more on the tax trials and tribulations of the rich in my earlier post Charts: America Has the World's Luckiest Billionaires 30JUL12
From Mother Jones and PBS News Hour...
Mitt Romney has been on the defensive today over a new study that found his tax plan would most likely increase taxes on the middle class in order to pay for a hefty tax cut for the wealthiest Americans. The study (pdf) by the nonpartisan Tax Policy Center scrutinizes Romney's plan to pay for a variety of tax cuts by closing tax loopholes. It concludes that under the most progressive approach possible, Romney's plan would give an $87,000 tax cut to people making more than $1 million a year but require 95 percent of Americans to pay more taxes—on average, $500 more per year.
"He's asking you to pay more so that people like him can get a big tax cut," Obama said from the campaign trail in Ohio today.
Romney has pushed back against the study, claiming that the Tax Policy Center (a wing of the Brookings Institution) is a "liberal" group. But as ThinkProgress points out, Romney praised the Tax Policy Center's analysis of Gov. Rick Perry's tax plan during the GOP primaries, calling it an "objective, third-party analysis."
Here's TPC's chart illustrating who will win and lose from Romney's tax plan:
Tax Policy Center and Brookings InstitutionTax Policy Center and Brookings Institution

No comments:

Post a Comment