Mitt’s plan to roll back our progressive tax system
Source: http://jaundicejames.com
The Romney plan to reduce tax rates across the board by 20% is widely known and reported.
I fear that people don’t know what this means, exactly. I think the immediate assumption is that he’s going to be reducing everyone’s taxes by 20%, evenly, across the board. That’s not what it means. The devilish, sneaky little detail in Mitt’s plan is just how he parses his words. He’s reducing the tax RATES by 20%. This means that the percent upper class taxes will be discounted will be greater than the percent for lower class incomes.
More importantly, it pushes both ends of the tax spectrum closer together by 20%, making our progressive tax system, well, less progressive.
Read more: http://jaundicejames.com/2012/10/14/mitts-plan-to-roll-back-our-progressive-tax-system/
The fact that Romney's tax plan reduces the "progressiveness" of our tax system is something that is not widely reported. Please help me spread this fact.
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