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Romney's Tax Plan Screws Over Everyone But Rich People
By
Christopher Robbins
Published Aug 2, 2012
Modified Aug 2, 2012
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By
Christopher Robbins
Published Aug 2, 2012
Modified Aug 2, 2012
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According to a report from the Tax Policy Center [pdf], Mitt Romney's tax plan would raise taxes for 95% of Americans by around $500 a year while giving millionaires a significant tax break. Those breaks would be paid for by removing tax cuts for employer-provided health care, mortgage interest, education, things that affect people who don't own German warmblood dressage horses. “Folks making more than $3 million a year—the top one-tenth of 1 percent—they would get a tax cut under Mr. Romney’s plan that is worth almost a quarter of a million dollars," President Obama told an Ohio audience yesterday. But who came up with this analysis? Libruls who donated to Obama, obviously. Oh, and George W. Bush's former top economic advisor.
Here's the excerpt that made Mitt Romney spew Diet Sierra Mist all over his leather Brookstone iPad case:
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 report comes as Romney's standing took a hit in polling in three key swing states, and as comedians paint him as out-of-touch for taking a $77,000 loss last year on a frigging jumping horse, and as the Senate majority leader publicly accuses him of paying no net taxes for ten years, and as the electorate wonders whether they really want a cutthroat venture capitalist to run their country. Mitt has probably seldom watched TGIF ("Family Matters gets me too worked up!") but he has to be gritting his teeth and repeating the mantra now: tomorrow, July's unemployment figures will be released.
Until then, Romney's hiring the woman who helped spin the Gulf oil spill for BP to convince us that Bain isn't just a man in a creepy mask who wants to kill Batman.
Tagged
2012 election
class warfare
mitt romney
president obama
rich people
taxes
Christopher Robbins
Christopher Robbins is a New York City reporter covering transportation, affordable housing, local politics, and criminal justice. His work has also appeared in New York Magazine, The Village Voice and The New York Times. Chris is a graduate of Patrick Henry High School in Roanoke, Virginia, and enjoys biking to Fort Tilden in the summertime.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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