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