{"id":8524,"date":"2012-08-02T11:25:17","date_gmt":"2012-08-02T18:25:17","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=8524"},"modified":"2012-08-02T12:04:21","modified_gmt":"2012-08-02T19:04:21","slug":"romneys-tax-increase-for-the-95","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2012\/08\/02\/romneys-tax-increase-for-the-95\/","title":{"rendered":"Romney’s Tax Increase for the 95%"},"content":{"rendered":"

When Willard isn’t busy taking irrevocable stances on both sides of issues, belittling people he considers inferior, insulting commoners, hiding his wealth, etching his sketch, and lying about everything that he uses to support his claim that he is worthy of the Presidency, he’s looking for ways to raise YOUR taxes so he can pay less.  Unfortunately for him, new analysis of his tax plan proves that is exactly what his plan does.<\/font><\/p>\n

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\"2TaxIncrease\"<\/p>\n

President Obama is seizing on a study out Wednesday to support his argument that Mitt Romney is focused on boosting the rich at the expense of the middle class<\/strong>.<\/p>\n

The study from the Tax Policy Center<\/a> looks at the impact of Romney's tax plan, which he promises will be revenue neutral. Romney has vowed to cut tax rates by 20 percent across the board, repeal the estate tax and get rid of taxes in investment income for those making up $200,000. He says the reduction these tax cuts will have on tax revenue will be offset in part by eliminating deductions and loopholes, though he has refused to say what deductions and loopholes he would eliminate…<\/p>\n

…The Tax Policy Center – a joint project of the Brookings Institution and the Urban Institute – found that if Romney wants his plan to be revenue neutral, it will result in "large tax cuts to high-income households, and increase the tax burdens on middle- and\/or lower-income taxpayers."<\/strong>…<\/p>\n

…The group said that Romney's plan would reduce federal tax revenues by $360 billion in the year 2015, with the tax breaks overwhelmingly favoring the wealthiest Americans. It looked at what would happen if Romney explicitly sought to cut tax expenditures for those making the most. It found that even under that assumption, those making more than $1 million would see their after-tax incomes increased by more than 4 percent – with an average tax cut of roughly $87,000<\/strong>. To maintain revenue-neutrality, those earning less than $200,000 would have to see their after-tax income decreased by 1.2 percent, with an average tax increase of $500<\/strong> per household… [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <CBS<\/a>><\/p>\n

Lawrence O'Donnell discussed Romney's tax plan and how Obama called him out on it with Howard Fineman and David Cay Johnston.<\/font><\/p>\n

<\/embed><\/object><\/font><\/p>\n

Visit NBCNews.com for breaking news<\/a>, world news<\/a>, and news about the economy<\/a><\/p>\n

Obama should keep calling Romney out on this.  Democrats should remind America every day that Republicans want to raise YOUR taxes to give more welfare to millionaires, billionaires and corporate criminals.<\/font><\/p>\n

If you want your taxes to INCREASE by $500 to give millionaires a tax cut of $87,000+, while increasing the deficit to do so, vote Republican. Otherwise, vote Democratic.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

When Willard isn’t busy taking irrevocable stances on both sides of issues, belittling people he considers inferior, insulting commoners, hiding his wealth, etching his sketch, and lying about everything that he uses to support his claim that he is worthy of the Presidency, he’s looking for ways to raise YOUR taxes so he can pay […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-8524","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/8524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=8524"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/8524\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=8524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=8524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=8524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}