Romney tax plan slashes taxes for rich, increases for the poor

Was Mitt thinking about his own wallet with this plan? It’s all about even more giveaways for the rich, peanuts for the middle class and clobbering the poor. Is it not possible for the political class to think about anyone other than the rich these days? Now would be the time for the Democrats to rip this to shreds, but will they?

Republican Mitt Romney’s tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich, according to an independent study released Thursday. On average, households making less than $20,000 would see their taxes increase by more than 60 percent, said the Tax Policy Center, a Washington research group that studied the Romney plan. Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, the study said. People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000.


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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