Romney’s Tax Plan Only Benefits (Surprise!) the Rich

(But I thought Mitt was unemployed and just like the rest of us? – promoted by ProgressiveCowgirl)

A new, independent analysis of presidential candidate Mitt Romney’s tax plan reveals that the only Americans who will benefit are the wealthy. From Ezra Klein:

Compared to current rates, Romney’s plan would cost a family in the bottom 20 percent $157 and save a family in the top 1 percent $82,000.

For a more thorough breakdown of the Republican contender’s tax plans, make sure to visit the Tax Policy Center.

For many low income families, $157 less in the budget may mean the difference in being able to afford electricity or prescription medication. A new study highlighted by the Bell Policy Center shows that the number of Americans, and Coloradans, who stand to pay more taxes under a Romney administration is growing quickly:

From 2007 to 2010, the share of working families that are low-income – meaning below 200 percent of the official poverty threshold – grew from 28 percent to 31 percent, according to a new report by the Working Poor Families Project. In 2010, there were 10.2 million low-income working families living in the United States, 125,000 more than the previous year. The number of people living in low-income working families increased by 1.6 million during the same period.

That’s right; 27% of Coloradans are now classified as “low income” and will get a tax hike while the richest among us stand to gain $82,000.

Well, let ’em eat cake.

8 Community Comments, Facebook Comments

  1. MADCO says:

    I had been thinking I was likely yo support re-electing President Obama, flaws and all.

    But now that I see how Governor Romney intends to create jobs and economic growth, I may have to rethink this whole election.

    I’ve been thinking that cuts at the top would only lead to more foreign investment, i.e, capital and jobs leaving the US.  But if Romney sees the value in a tax cut at the top, maybe there’s more to it.

  2. Ralphie says:

    Are you some kind of commie or what?

  3. BlueCat says:

    being too close to Wall Street. Crony capitalism or something like that. I wonder how they’re going to manage to have him be a Wall Street tool and a radical socialist at the same time. That ought to really keep the ol’ spin machine spinning.

  4. allyncooper says:

    Gee, no wonder the GOP right wing is so leery of him. The guy’s a closet socialist like Obama.  

  5. BlueCat says:

    instead of calling them Job Creators we start calling them Cake Eaters.  

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