Romneys' plan to save the economy

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When compared to existing tax policy – that is, assuming Congress and Obama agree to extend the Bush tax cuts – Romney’s plan would still benefit the rich, but would result in a tax hike for some poor and middle-class taxpayers.

One-in-five households making $10,000 to $20,000 would get hit with an extra $1,000, mostly because Romney would reduce the value of refundable child and earned income credits.

One-in-six households making $40,000 to $50,000 would see their taxes increase nearly $800 while one-in-three of those households would get a $400 break.

Meanwhile, taxes would go down, on average, about $150,000 for those making more than $1 million.

When compared to existing tax policy – that is, assuming Congress and Obama agree to extend the Bush tax cuts – Romney’s plan would still benefit the rich, but would result in a tax hike for some poor and middle-class taxpayers.

One-in-five households making $10,000 to $20,000 would get hit with an extra $1,000, mostly because Romney would reduce the value of refundable child and earned income credits.


:palm:

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http://www.latimes.com/news/politic...-rewards-the-wealthy-20120105,0,6950719.story
 
there is obviously something wrong with this analysis....

Taxpayers who make more than $1 million currently pay about 20% of all federal taxes, Gleckman said.
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we all know that this isn't true......if the article contains one thing which isn't true, why should we believe the other things it reports are true.......
 
What an awesome plan. Taking 1000 bucks from each poor family should spur something. Maybe not the economy though.
 
it continues to amaze me that the left fails to realize the foolishness of "refundable" tax credits......if you want a welfare program, create a welfare program.....if your goal is to redistribute wealth, pass a law that redistributes wealth........don't try to hide it in the tax code.......
 
I didn't know he wanted a trillion dollar stimulus plan that didn't create any jobs......I no longer want to vote for him......
 
PostmodernProphet said:
compared to the Obama legacy, a $180 billion deficit is a tremendous improvement........
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Jesus, you're ignorant. $180 billion would be added to the deficit.


Romneys' tax plan would cut taxes for millions of households but bestow most of its benefits on those with the highest incomes. At the same time, it would significantly cut corporate taxes and add hundreds of billions of dollars to the deficit.


He’d end Obamas' 2009 stimulus tax reductions, including Obama’s more generous versions of the child tax credit and earned income credit—both aimed at helping low-income working families.


He’d also repeal the tax increases included in the 2010 health reform law.But Romney doesn’t stop there. He’d make capital gains, dividends, and interest income tax-free...



http://www.csmonitor.com/Business/T...-Big-benefits-for-the-wealthy-higher-deficits
 
Appears he is pretty desperate to win over the one percent to his cause.
In any kind of normal world, that wouldn't matter, since the rest of the population would never vote against their own best interests.
Good thing for him the GOP lie factory has been so successful.
 
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