Romney tax plan helps rich, hurts middle class: Tax Policy Center

Romney tax plan helps rich, hurts middle class: study

(Reuters) -

Republican U.S. presidential challenger Mitt Romney's proposal to slash income taxes by 20 percent across the board would boost income for the wealthiest taxpayers while reducing it for the middle class, according to a nonpartisan analysis released on Wednesday.

The report by the centrist Tax Policy Center found that Romney's tax cuts would boost after-tax income by an average of 4.1 percent for those earning more than $1 million a year,

while reducing by an average of 1.2 percent the after-tax income of individuals earning less than $200,000.

Not only is it a windfall to Millionaires...it actually REDUCES the after tax income of those making less that 200k.!!!

Somebody's got to pay for the tax cut for the wealthy!

NOW...before anyone shouts "liberal media"!!!!... despite the Tax Policy Center being a well known non-partisan org...

The Tax Policy Center, a joint venture between the Brookings Institution and the Urban Institute, is led by Donald Marron, a former economic official in the administration of Republican President George W. Bush.

Another of the study's authors, William Gale, was an economic adviser to Republican President George H.W. Bush.

Despite that, when confronted with the detailed analysis, the Romney campaign failed to respond with any substance regarding the numbers or analysis, but decided that since just one of the authors was one of several dozen economic advisors to the President back during the 2008 campaign...they chose this rather than refute the analysis...

"President Obama continues to tout liberal studies calling for more tax hikes and more government spending," Romney campaign spokesman Ryan Williams said.

Interested in members take...Rich get richer...poor get poorer..tax plan?

Full article here...
Romney tax plan helps rich, hurts middle class: study

Yeap, those evil GOP. They HATE the poor people and want to see kids go hungery in the streets

I also hear they eat babys

His plan includes...

Permanently extending the Bush era tax breaks..
Eliminating taxation of Investment Income for most individuals
Dropping the Top rate from 35% to 25%
Reduce the Corporate Rate from 35% to 25%
Eliminating the estate tax...inheritance tax

It goes on and on...this is his declared plan, not rhetoric.

From Forbes just now...

The good news? Because the Tax Policy Center did not know what Romney would actually eliminate, they took the trouble to construct a wide variety of models in an effort to see what results would emerge under different scenarios involving the many possible loopholes a Romney administration could choose to close and deductions that could disappear.

The bad news for Governor Romney is that—no matter how the Tax Policy Center structured the effort to balance the result of the proposed tax cuts, even going so far as to run the model under the assumption that Romney would first eliminate those deductions and loopholes that currently inure to the benefit of the wealthiest Americans—the result always turned out the same way.

The wealthy win big—middle and lower income earners…not so much.

www.forbes.com... partisan/

cnn Study: Romney tax plan would shift burden toward poor
money.cnn.com...

cbs - Study: Romney tax plan helps rich, hurts poor
www.cbsnews.com...

This news is breaking right now...The Tax Policy Center is non-partisan with several prominant conservatives as well as the Brookings Institution...they aren't fudging numbers here...this is going to hurt Romney

Oh, a NEAT-O!!! A study from the Tax Policy Center... which is made up of elements of the Brookings Institute and the Urban Institute.

Let's look at the Brookings Institue first. This comes right from their google snippet:

An independent research and policy institute with a left-liberal inclination, which seeks to improve the performance of American institutions, the effectiveness of ...

Now let's look at the Urban Institute. From their website:

The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.

So, it is a "green" organization comprised of "Community activists, professors, students..."

When someone uses the term "non-partisan" it usually ends meaning "hyper-partisan"!

Nope, not a biased organization at all! SHEEP!

Originally posted by camaro68ss
Yeap, those evil GOP. They HATE the poor people and want to see kids go hungery in the streets

I also hear they eat babys

Cheers! - The first post on the thread contributed nothing! Try again...with substance.

reply to post by Indigo5


The only thing Mitt doens't flip flop on...protecting the wealthy.

It must be nice to be able to run for President so you can give yourself a tax cut.

Of course you are just going to get Republican voters come to this thread and either ignore the substance entirely or attack the source.

It is too painful to admit that they vote to benefit the wealthy...which most of them are not...a lot of them are totally the opposite...very poor and on government assistance...but THEY deserve it...not those "welfare queens".


I guess they get what they deserve if Romney ends up winning...they are already suffering from the actions of the Republican representatives that they voted in...so I guess they are used to it by now.

reply to post by Indigo5


Are your freaking kidding me??? Your own quote begins with this:

The good news? Because the Tax Policy Center did not know what Romney would actually eliminate, they took the trouble to construct a wide variety of models in an effort to see what results would emerge under different scenarios involving the many possible loopholes a Romney administration could choose to close and deductions that could disappear.

They admit they have no idea what Romney will do so they went through the "Effort" of CONSTRUCTING... In other words, they made up a bunch of worse case scenarios and published it.

If you people would just do your damned homeowrk you would know that A.) This organization is made up of hyper-partisan organizations and secondly, that the "Study" is based on heresay and pure speculation. In other words... FANTASY! And you bite this hook, line and sinker.

Methinks you have indicted yourselves as accepting blissful ignorance!

Originally posted by kozmo
Oh, a NEAT-O!!! A study from the Tax Policy Center... which is made up of elements of the Brookings Institute and the Urban Institute.

Let's look at the Brookings Institue first. This comes right from their google snippet:

An independent research and policy institute with a left-liberal inclination, which seeks to improve the performance of American institutions, the effectiveness of ...

You still don't see the fire that started...Romney has in the past praised the Brookings Institute as "Objective"

Even the Ultra-Conservative Forbes is hitting him on this...

From FORBES

And still, all we got today was a statement that the report is to be discredited because the organization publishing the study is a ‘liberal’ think tank—despite the fact that the Tax Policy Center is generally regarded as unbiased (with some argument to be made that they might lean a bit to the left) and despite the fact that Romney himself has previously labeled the group as “objective”.

Something is wrong here. Either Governor Romney should tell us why the study fails or acknowledge that the tax cuts he proposes for the wealthy will either result in increased taxes for to those who earn less or will not, in fact, be revenue neutral after all.

If you are willing to let the Republican presidential campaign off the hook by dismissing what is a fairly extensive, fair and balanced report (I suggest you read the study)—where the authors actually appear to go to the extreme to give the Governor the benefit of the doubt—then I have some California government bonds I’d like to sell you. They’re a great investment…honest.

www.forbes.com... partisan/3/

Originally posted by OutKast Searcher
reply to post by Indigo5

 

Of course you are just going to get Republican voters come to this thread and either ignore the substance entirely or attack the source.

WRONG! Nice try though. I don't attack sources, I reveal the truth behind them. Not did I ignore the substance. In fact, I fully addressed that said study is pure fabrication based on speculation. Thanks for playing!

reply to post by Indigo5


I don't put much stock into "journalists" who have proven time and again to not exercise any journalistic integrity. I'm not a Romney supporter - not by a long shot. However, I will wait for Romney to publish his ACTUAL tax plan and then I will evaluate it on it's merits. Not the speculation and fabrication of a left-leaning think tank. Thanks.

reply to post by Indigo5

His plan includes...

Permanently extending the Bush era tax breaks..
Eliminating taxation of Investment Income for most individuals
Dropping the Top rate from 35% to 25%
Reduce the Corporate Rate from 35% to 25%
Eliminating the estate tax...inheritance tax

Let's see...who benefits from this.

Permanently extending the Bush era tax breaks..

Romney

Eliminating taxation of Investment Income for most individuals

Again...Romney.

Dropping the Top rate from 35% to 25%

Actually...Romney wouldn't benefit from this...because of the second point...he would already pay no taxes. So he wouldn't care what the top rate is...that is until after his term is over and he writes books and gets speaking fees...so yeah, nevermind...again...Romney would benefit from this.

Reduce the Corporate Rate from 35% to 25%

Well, if he ever decides to start up another chop shop, I mean, Capital Investment firm...he will benefit from this. Of course his old business will benefit from this...and all businesses he is invested in (that is if any of his money is still invested inside America).

Eliminating the estate tax...inheritance tax

Romney's sons.

I guess he wants to give his kids a little gift.



When poor people vote for Romney and then complain about being poor...I just want to slap them.

reply to post by kozmo

I'm not a Romney supporter - not by a long shot.

But you will defend him in thread after thread...and ultimately you will vote for him to attempt to defeat Obama.

It's hilarious that people are so embarressed to support the GOP with Romney at the top that they will try to lie to themselves.

reply to post by OutKast Searcher


Source? I'd like to read this. To date I have yet to see Romney's proposed "tax plan." If your quotes can be attributed to his published tax plan, we have a HUGE problem here. If this is the speculation and fabrication gleened from the "Study" then YOU have a huge problem here.

Originally posted by OutKast Searcher
reply to post by kozmo

 

I'm not a Romney supporter - not by a long shot.

But you will defend him in thread after thread...and ultimately you will vote for him to attempt to defeat Obama.

It's hilarious that people are so embarressed to support the GOP with Romney at the top that they will try to lie to themselves.

I'm a Constitutional Libertarian. I will be voting for the libertarian candidate, thank you. I will however, expose the many lies perpetrated by the liberals who will do anything to have their neo-fascist re-elected. Again, thanks for playing.

Originally posted by kozmo
reply to post by OutKast Searcher

 

Source? I'd like to read this. To date I have yet to see Romney's proposed "tax plan." If your quotes can be attributed to his published tax plan, we have a HUGE problem here. If this is the speculation and fabrication gleened from the "Study" then YOU have a huge problem here.

www.mittromney.com...


How hard was that???

reply to post by OutKast Searcher


Interesting to note that the "plan" on his site doesn't state any of the things that you QUOTED above. So, again, that was NOT the source. Care to be truthful - if possible - or are we going to continue with the unsourced propaganda?

reply to post by OutKast Searcher



These items, from the "plan" you linked to, include the following:

•Make permanent, across-the-board 20 percent cut in marginal rates
•Maintain current tax rates on interest, dividends, and capital gains
•Eliminate taxes for taxpayers with AGI below $200,000 on interest, dividends, and capital gains
•Eliminate the Death Tax
•Repeal the Alternative Minimum Tax (AMT)

I'm not seeing any of the things you quoted. So either you have mis-quoted, in violation of T&C's or you have made an egregious mistake that requires correcting. Which is it?

Originally posted by kozmo
reply to post by OutKast Searcher

 

Source? I'd like to read this.

Here is the Tax Policy Centers Detailed analaysis according to Romney's PUBLISHED PLAN..

They also had several conversations with the Romney team clarifying his plan before publishing the analysis.

taxpolicycenter.org...


Here is Romney's Plan
www.mittromney.com...

reply to post by kozmo

I'm a Constitutional Libertarian.

Yes, you and every other Republican that is too embarressed to admit they are voting for Romney.

Sorry...I don't believe you.

Originally posted by kozmo
reply to post by OutKast Searcher

 

These items, from the "plan" you linked to, include the following:

•Make permanent, across-the-board 20 percent cut in marginal rates
•Maintain current tax rates on interest, dividends, and capital gains
•Eliminate taxes for taxpayers with AGI below $200,000 on interest, dividends, and capital gains
•Eliminate the Death Tax
•Repeal the Alternative Minimum Tax (AMT)

I'm not seeing any of the things you quoted. So either you have mis-quoted, in violation of T&C's or you have made an egregious mistake that requires correcting. Which is it?

What is wrong with you??? He qouted me, not the Romeny site...I qouted the Tax Policy Center who doesn't use the same "Lutz" language Romeny does...but all of it sticks...

Death Tax = Inheritance Tax

All the rest is right there on Romney's Site and the Tax Policy Centers site...I linked to both above.

Which claim do you doubt????