The Romney tax plan is ripped to shreds by the nonpartisan Tax Policy Center.
“It is not mathematically possible to design a revenue-neutral plan that preserves current incentives for savings and investment and that does not result in a net tax cut for high-income taxpayers and a net tax increase for lower- and/or middle-income taxpayers,” the study concludes.
Even if tax breaks “are eliminated in a way designed to make the resulting tax system as progressive as possible, there would still be a shift in the tax burden of roughly $86 billion [a year] from those making over $200,000 to those making less” than that.
What would that mean for the average tax bill? Millionaires would get an $87,000 tax cut, the study says. But for 95 percent of the population, taxes would go up by about 1.2 percent, an average of $500 a year.
If the Dems can get the word out, this one is going to hurt Romney big time. His campaign’s response so far has been to claim that the Tax Policy Center’s research was conducted by liberals. Well…
a) One of the authors of the report is a veteran economist from the Bush administration.
b) Last November, when the Tax Policy Center was critical of Rick Perry’s tax plan, Romney’s campaign defended the TPC and said they were “objective” and “non-partisan.”
c) And this:
the researchers “bent over backwards to literally give Romney every possible benefit of the doubt” and worked under the dubious assumption that more Republican tax cuts will stimulate the economy. Brookings/TPC ran the numbers while playing by Republican rules and the results were still a disaster.
The man whose sales pitch on his way to the White House centered on a single premise – that he and he alone had the business experience to lead the country out of its economic morass – has been shown again to be a fraud. Romney’s tax havens, hidden tax returns and now a tax plan that literally puts millions into his pocket and those of millionaires and billionaires while increasing taxes on the middle class exposes Romney in as clear a light as could be hoped for…and none of it is good.
The Romney campaign is going to spin this thing to hell and back. Let’s hope the Obama team can keep the pressure on until November with a barrage of ads along these lines.
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Romney is going to sail along on bs and lies all the way to the debates. Fox and talk radio can give him cover until then but once the debates get going, he’ll have no place to hide. Can’t wait.
You know Mario, I am just so sick and tired of the Romney-babble that goes on, and on in the media – all the time! When, like Reagan he is an idiotic figurehead and front man for a more insidious and treacherous Republican political operation against our democracy, our President, and our nation. I wish that I would never have to see the Romney image again, but alas its the needed part of our political process. Why doesn’t the media do more calling out of the GOP machine? Well, hopefully Romney may have done enough all by himself with the help of his equally stupid handlers and the obsequious and contemptable GOP congressional causas. Sorry Mario, I beginning to become a pissed-off progressive. I am devoted to your website, I respect you. Your friend, Richard B.
Romney cannot go 5 minutes without sticking his foot in his mouth. How is he going to be able to dabate with President Obama? Slaughter. The right thinks Obama cannot talk without the teleprompter (that devise that presidents have been using since its invention), so go figure why he does so well in debates.
I just hope Mitt’s running mate is not a woman – Biden held his punches last time, in order not to look like he was “bullying” SP.
YAWN. No surprise here, just glad the report is out and can be circulated far and wide.
Not to worry, WE’RE ON IT (Obama for America) like stink on (whatever your preferred substance).
If RMONEY has your blood pressure rising, we (Obama for America) could put that energy to positive use…
SEARCH barackobama.com for your state’s ORGANIZERS and HELP US…get on the phones and talk with voters…I promise it will HELP, both you and US. You will have your anger and frustration validated…the support is priceless, for your mental health and to help RE-ELECT OBAMA.
Chuckle: our guy will tear RMONEY a new one at the debates. (don’t repeat that phraseology to the campaign please). ; )
I remember when at one point Reagan in a debate seemed to have lost it ,and there wasn’t a peep from the MSM.I also remember when Biden was supposed to annihilate Palin but there wasn’t much of a blast.So don’t get your hopes up that Obama will devastate R Money .I doubt that will happen.But don’t worry ,things will get worse!
A regressive plan. Typical supply side economics.
Fellow creatures of our fragile planet …I am certain that Obama will devastate Romney in the debates … I just know it! This feeling soothes my progressive heart. With all the bullshit out there, I sometimes get a little downhearted but always perk up when I realize that the GOP crap is like a bad Batman movie ..and we all know who the joker is! Our President has CLASS, Romney doesn’t, nor does the GOP slime. Thanks for the comments and the HOPE. Richard Berryman (an old retired Democrat, and proud of it all).
Rich…thanks for the support.
I’m also old and WISH I’d recently retired…and I have a few hours to make calls to voters. Can you sit somewhere in your town with a clipboard and register voters? Or get on the phone and call some voters?
Your local OBAMA team needs YOU. Your voice is important. Please get involved.