Thursday, January 05, 2012

Mitt Romney Plan Raises Taxes On Poor Families, Helps Millionaires

Why would anyone be surprised by this?
Republican Mitt Romney's tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich, according to an independent study released Thursday.

On average, households making less than $20,000 would see their taxes increase by more than 60 percent, said the Tax Policy Center, a Washington research group that studied the Romney plan.

Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, the study said. People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000.

"Virtually everybody with a big income is getting a tax cut," said Roberton Williams, a senior fellow at the Tax Policy Center.

Overall, Romney's plan would reduce tax revenues by $180 billion in 2015, adding to the federal budget deficit, the study said. Romney's campaign disputes the estimate, saying tax cuts in the plan would help improve the economy, leading to more revenue.
Why is it that the Republicans play the exact same play list each time and expect a different result? This trickle down nonsense doesn't work and we have the near death of the middle class to prove it. Mitt Romney earned his fortune destroying the middle class and pays a tax rate lower than most middle class Americans. He will not even release his tax returns because he knows that is what would be discovered.

This worthless empty suit can never be President of the United States.


Sharon said...

Would this plan do good among the citizens of America? If it does, then I would agree with it. However, increasing the taxes of low income families will surely add burdens even more. Thus, I don't think this is a good idea. form 2290

Ryan Donovan said...

I in no way believed how I could list my deductions, but alternatively I didn't realize the reasons for itemizing unless you made a lot of coinage (and therefore spent a lot of funds), nonetheless, folks like me can and should examine itemizing their deductions, because it can be seriously valuable! See if you have been missing out on big tax deductions by not itemizing like me here: