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Study: Romney tax plan would shift burden toward poor

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posted on Aug, 1 2012 @ 04:40 PM
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money.cnn.com...


NEW YORK (CNNMoney) -- Mitt Romney's tax plan would provide large tax cuts to the very wealthy, while increasing the tax burden on the lower and middle classes, according to a study released Wednesday.

And because most tax breaks go to the poor and middle class, "maintaining revenue neutrality mathematically necessitates a shift in the tax burden of at least $86 billion away from high-income taxpayers and onto lower- and middle-income taxpayers."
The end result is that individuals who make less than $200,000 would actually have to pay $500 more, on average, in taxes -- a 1.2% decrease in after-tax income, the study found.
Meanwhile, the after-tax income of individuals who make more than $1 million would increase by 4.1%.


so where are all the ats millionaires who support this man? it humors me that the gop can fool poor and middle class americans to vote them into office.

yeah i know that neither side is a better option. america is not the country it used to be or close to being the country most people seem to believe it still is.




posted on Aug, 1 2012 @ 04:50 PM
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these guys spend more money trying to make sure their taxes dont go up, then what they would have to pay in taxes if it went up.



posted on Aug, 1 2012 @ 04:53 PM
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Everybody needs to pay something, the evil rich have been paying their fair share for years.......



posted on Aug, 1 2012 @ 05:02 PM
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OMG, More class warfare and attacks from the far left. What else does CNN, MSNBC, NBC, ABC tell you??

yeap GOP hates poor people, they hate grandmas and grandpas and want to throw them off cliffs. they also hate blacks, mexicans and anyone else not white.

I even hear some of them eat kittens.
edit on 1-8-2012 by camaro68ss because: (no reason given)

edit on 1-8-2012 by camaro68ss because: (no reason given)



posted on Aug, 1 2012 @ 05:03 PM
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In a recession, it's suicide to raise taxes on the middle class. When you have a consumption based economy, it's incredible stupid to increase taxes on those that do most of the consumption. Nothing will ever trickle down from the top if there isn't demand for goods and services due to the majority of the population being over taxed.


edit on 1-8-2012 by Kaploink because: meh



posted on Aug, 1 2012 @ 05:07 PM
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Originally posted by camaro68ss
.......
I even hear some of them eat kittens.....


Can you prove they don't?


second line



posted on Aug, 1 2012 @ 05:09 PM
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Originally posted by Kaploink

Originally posted by camaro68ss
.......
I even hear some of them eat kittens.....


Can you prove they don't?


second line


No i cant but i do know Obama eats Dogs



posted on Aug, 1 2012 @ 05:09 PM
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Bah! "According to a study..." Whose study? Obama's? Where is this study? Who authored it? Based on what evidence?

Pack it up and go grab your check from the Obama campaign, but stop peddling your crap around here. The majority of us are smarter than that!



posted on Aug, 1 2012 @ 05:14 PM
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reply to post by elitegamer23
 


There's a shocker



posted on Aug, 1 2012 @ 05:19 PM
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reply to post by camaro68ss
 


your happy the government is gonna take another 500 dollars from you every year?



posted on Aug, 1 2012 @ 05:23 PM
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reply to post by kozmo
 


Clearly not because simple things like reading the article would have garnered you the details of the study.


The report -- produced by researchers at the Urban-Brookings Tax Policy Center -- illustrates just how difficult it would be to recoup government revenue lost under Romney's plan.


Tax Policy Center

tax policy center

Just in case you really wanted to know.



posted on Aug, 1 2012 @ 07:39 PM
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Originally posted by kozmo
Bah! "According to a study..." Whose study? Obama's? Where is this study? Who authored it? Based on what evidence?

Pack it up and go grab your check from the Obama campaign, but stop peddling your crap around here. The majority of us are smarter than that!


yeah i totally get paid to post stories like this , haha.

actually i throw a news story like this onto ats because it annoys certain people to the extreme.

plus i just think there should be a little attempt at balance here considering half of all the new threads on ats are anti obama threads.



posted on Aug, 1 2012 @ 07:41 PM
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Originally posted by camaro68ss

yeap GOP hates poor people, they hate grandmas and grandpas and want to throw them off cliffs. they also hate blacks, mexicans and anyone else not white.

editby]edit on 1-8-2012 by camaro68ss because: (no reason given)

edit on 1-8-2012 by camaro68ss because: (no reason given)


you really think the gop gives a crap about you? no seriously you really think the gop gives a crap about you?

yeap right!



posted on Aug, 1 2012 @ 09:09 PM
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"The Distribution of Household Income and Federal Taxes, 2008 and 2009," issued by CBO on July 10, reports that the top 1% of income earners paid 39% of federal individual income taxes in 2009, while earning 13% of the income. That means their share of federal income taxes was three times their share of income.
And that is down from 2007, before President Obama was even elected. In that year, after 25 years of Reagan Republican tax policies, the top 1% paid 40% of federal individual income taxes. That was more than double the 17.6% of federal individual income taxes paid by the top 1% when President Reagan entered office in 1981.
Also in 2007, again before Obama was even elected, and after 25 years of Reaganomics, the bottom 40% of income earners on net as a group paid less than 0% of federal income taxes. Instead of paying at least some income taxes to help support the federal government, the federal government paid them cash through the income tax code.
Does that reality sound like what you hear in President Obama's deceiving speeches?
CBO further reported that in 2009 the top 20% of income earners, those earning more than $74,000, paid 94% of federal individual income taxes, virtually all of the net total. That was 85% more than the share of national income they earned.
Yet, in that same year, the middle 20% of income earners, the true middle class, paid 2.7% of total federal individual income taxes on net, while earning 15% of before-tax income. And the bottom 40% of income earners, instead of paying some income taxes to support the federal government, were paid by the IRS cash equal to 10% of federal individual income taxes on net.
That means altogether the bottom 60% of income earners, which includes the middle class, paid less than 0% of total federal individual income taxes as a group on net. Instead, as a group, they received net cash payments from the IRS on net.

link to article

read the article, it is good education for you left wing, flat earth, class warriors.

this info comes from the cbo.

cbo



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