Democracy Now: Study: Romney Tax Plan Would Benefit Wealthiest Taxpayers

A new study is predicting that Republican candidate Mitt Romney’s tax plan would boost the income of the nation’s wealthiest taxpayers, while reducing that of the middle class. The nonpartisan Tax Policy Center says Romney’s proposals would increase net income by an average of 4.1 percent for those earning over $1 million a year. Those making less than $200,000 would see their net income reduced by 1.2 percent. Campaigning on Wednesday in Ohio, President Obama seized on the report’s findings.

President Obama: “The average middle-class family with children, according to this study, would be hit with a tax increase of more than $2,000. And here’s the thing: He’s not asking you to contribute more to pay down the deficit. He’s not asking you to pay more to invest in our children’s education or rebuild our roads or put more folks back to work. He’s asking you to pay more so that people like him can get a big tax cut.”


~ by wheresthemic on August 2, 2012.

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