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Wed Aug 1, 2012, 10:37 AM

Romney Tax Plan Helps Rich Most: Tax Group

Source: Reuters

Romney tax plan helps rich most: tax group

WASHINGTON | Wed Aug 1, 2012 9:05am EDT

By Kim Dixon

WASHINGTON (Reuters) - Republican U.S. presidential challenger Mitt Romney's proposal to slash individual income taxes by 20 percent across-the-board would primarily boost the income of the wealthiest taxpayers, according to a nonpartisan analysis released on Wednesday.

The report by the centrist Tax Policy Center found that Romney's tax cuts would boost after-tax income by an average of 4.1 percent for those earning more than $1 million a year, while reducing by an average of 1.2 percent the after-tax income of individuals earning less than $200,000.

Tax policy and how to tame the U.S. government's budget deficit, topping $1 trillion in recent years, is a major point of contrast in the presidential race, in which Romney will face President Barack Obama on November 6.

Romney, a multi-millionaire who made his fortune at private equity firm Bain Capital, has not spelled out how he would lower marginal tax rates. But he has said broadly he would cut some tax benefits for the wealthy.

Read more: http://www.reuters.com/article/idUSBRE8700PC20120801?irpc=932

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Arrow 6 replies Author Time Post
Reply Romney Tax Plan Helps Rich Most: Tax Group (Original post)
Hissyspit Aug 2012 OP
sarcasmo Aug 2012 #1
Turbineguy Aug 2012 #2
Berlum Aug 2012 #5
neeksgeek Aug 2012 #3
SoapBox Aug 2012 #4
DallasNE Aug 2012 #6

Response to Hissyspit (Original post)

Wed Aug 1, 2012, 10:48 AM

1. A wazzock helping out his rich buddies, no surprise.

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Response to Hissyspit (Original post)

Wed Aug 1, 2012, 11:04 AM

2. I don't think he'll do that on purpose

it's just that that's the only thing he can do.

He's like a cook who can only make one dish. If you want something to eat, that's what you get.

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Response to Turbineguy (Reply #2)

Wed Aug 1, 2012, 11:39 AM

5. Willard is a knee-jerk tax dodger

typical repub - does not support America

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Response to Hissyspit (Original post)


Response to Hissyspit (Original post)

Wed Aug 1, 2012, 11:31 AM

4. Uhhhhh......

DUH!

He could give a crap about the 99%.

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Response to Hissyspit (Original post)

Wed Aug 1, 2012, 11:46 AM

6. "Has Not Spelled Out"

That is the real story here. Because of this this report is mostly speculation based on assumptions. Romney has said he would dump this in the lap of Congress and sign the legislation as long as it meets the broad guidelines. Romney uses this lead from the rear approach as a way to avoid coming up with specifics that might be criticized in the campaign. But that approach comes across as asking Americans to buy a pig in a poke and I don't see how that sells, even with the Tea Party.

This report come from a group that considers itself a middle of the road group but Romney dismisses it because one of the people involved worked briefly for Obama. One presumes that there would be someone that once worked for Bush on the group given the stated mission of this group so that is just Romney deflection at work.

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