Romney’s tax plan: Increase taxes on poor, slash for the wealthy

It’s no surprise for someone who doesn’t care about the poor. The Romney plan is even more brutal than the Bush plan that kicked the economy. Besides not making any financial sense (there’s only so much money that can be generated by the poor – they’re poor, after all) it’s immoral to continue the brutal assault on those most in need. Bloomberg:

He would also raise taxes on poor families with children at home and those going to college. Romney does this by reducing benefits from the child tax credit and the earned income tax credit and by ending the American Opportunity tax credit for college education. Without these tax breaks, the poorest fifth of taxpayers would pay $157 more in taxes in 2015 than under current policy, the Tax Policy Center says in its analysis of Romney’s plan. The second poorest group would pay $82 more, according to the center, whose past work has been praised by Republicans and Democrats alike. While Romney would make these two groups — the poorest 125 million Americans — pay higher taxes, the top 60 percent all would get tax cuts. The top tenth of one percent would save, on average, $464,000 a year, the Tax Policy Center’s analysis says.

Obama may be weak, too soft on Wall Street, too right wing and generally uninspiring, but the more people see Romney and the rest of the GOP candidates, the better Obama looks. Romney’s plan is just more class warfare by the Romney class against everyone else. Haven’t we had enough of that?

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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