Romney's Tax Plan Would Give the Rich Tax Breaks While Raising the Taxes on the other 95% (vote, racism)
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A new Brookings Institution/Tax Policy Center study finds Mitt Romney's plan to overhaul the tax code would produce cuts for the richest 5% of Americans -- and larger bills for everybody else.
A new Brookings Institution/Tax Policy Center study finds Mitt Romney's plan to overhaul the tax code would produce cuts for the richest 5% of Americans -- and larger bills for everybody else.
Obama's bi-partisan commission called for a flattening of the rates, limiting deductions, and widening the tax base. Of course he ignored his own commission in favor of class warfare.
The study released today showing that Romney's tax plan will cut taxes for the top 5% and raise them for the remaining 95% isn't going to help. His tax plan will either massively increase the deficit, or, if he attempts to make it revenue neutral, cut deductions that reduce taxes for the middle class. There isn't enough deduction savings among the top 5% to pay for the rate cut. That's why he's trying to hide the details, so that he doesn't get attacked as either not being serious about the deficit, or as proposing a tax increase for nearly everyone to pay for a tax cut for his buds.
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