Wednesday, August 01, 2012

Romney Tax Plan

* You've got to see this to believe it---

The Atlantic:

Mitt Romney's tax plan could force 95 percent of the country to pay more, while cutting taxes for the "1%" by tens of thousands of dollars, according to a new analysis from the Tax Policy Center and the Brookings Institution.

The Romney plan begins by cutting marginal rates by 20 percent and eliminating the estate tax and Alternative Minimum Tax, which would decrease federal tax revenue by $360 billion by 2015. This report considered what would happen if Romney eliminated tax expenditures to make his plan revenue-neutral, so that it wouldn't blow an enormous hole in our budget. Here's what they found: The revenue-neutral Romney plan would raise taxes on a typical family by more than $600. A household making between half-a-million and $1 million would get a tax cut equal to almost twice the disposable income of the poorest 20 percent....

 Here is the conservative Wall Street Journal's take on the Romney tax plan:

A new study released Wednesday suggests that Mitt Romney‘s tax plan would benefit the rich and hurt the poor and middle class, no matter how current blanks in the plan are filled in....

Mitt Romney just doesn't get it.  Having never been a member of the middle class, he doesn't understand how people live from paycheck to paycheck. Romney doesn't understand that college students can't borrow money from their parents.  Most importantly, a majority of Americans feel that Mitt Romney's wealth makes him aloof, and out of touch with average Americans. Romney thinks that he should be elected President because he thinks it is his turn and he is just sleep-walking through a campaign, unwilling to engage with the press.