HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Hissyspit » Journal
Introducing Discussionist: A new forum by the creators of DU
Page: « Prev 1 2 3 4 5 6 7 8

Hissyspit

Profile Information

Member since: Fri Nov 12, 2004, 07:39 AM
Number of posts: 43,582

Journal Archives

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

Romney Tax Plan Helps Rich Most: Tax Group

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

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.

MORE AT LINK

Go to Page: « Prev 1 2 3 4 5 6 7 8