Analysis: Romney tax plan strongly favors the rich

[Crabtownboy]

Raise taxes on the poor and middle-class, but don't touch the rich. They need their more more than others ... or so it would seem.

Mitt Romney's new tax plan strongly favors the wealthiest Americans, offering earners in the top 20 percent an average tax cut of more than $16,000 while raising taxes on the bottom 20 percent of earners, according to an analysis from a non-partisan Washington think tank.

The analysis out Thursday from the Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution think tanks, finds that under Romney's plan the bottom 20 percent would see their average federal tax rate increase $149, or 1.3 percent.

The top 20 percent, meanwhile, would see an average tax cut of $16,134 -- a 5.4 percent reduction in their tax rate. The top one percent of earners would see their average tax rate fall by nearly $150,000 per year, and the top 0.1 percent would see a reduction of more than $725,000.

http://www.cbsnews.com/8301-503544_...sis-romney-tax-plan-strongly-favors-the-rich/

 

[mandym]

Sure it does

 

[InTheLight]

So now the goalposts have been moved again. The rich are no longer the "top 2%" now they are the top 20%! What a dishonest argument.

[Article ignored, deleted.]

 

[Crabtownboy]

So now the goalposts have been moved again. The rich are no longer the "top 2%" now they are the top 20%! What a dishonest argument.

[Article ignored, deleted.]

So you not only want taxes reduced for the top 2%, but also for the top 20%. Are you in the top 20%?

If not do you want your taxes raised.

Obama is talking about raising taxes for the top 2%. Romney is proposing a reduction of taxes for the top 20% and taxes raised for the lower and middle class.

Are you one who say the poor and middle class do not deserve what they have, so lets take it away and help the rich?

 

[InTheLight]

So you not only want taxes reduced for the top 2%, but also for the top 20%. Are you in the top 20%?

I want taxes cut for EVERYBODY. But, I would reluctantly go along with the top 2% having their tax brackets revert to pre-Bush levels. I'm not in the top 20% (as far as I know).

If not do you want your taxes raised.

No, I don't want my taxes raised. The article said that bottom 20% would see a tax increase of 1.3%. I'm not in the bottom 20%.

Obama is talking about raising taxes for the top 2%.

According to the article you posted, Obama wants to raise taxes on the top 20% (last paragraph of article.)

Romney is proposing a reduction of taxes for the top 20% and taxes raised for the lower and middle class.

No, Romney's plan is for cutting taxes for everybody. See, the article contradicts itself. They are analyzing Romney's tax plan as stated months ago. However, he came out with another proposal calling for a 20% reduction in marginal tax rates for everyone that pays taxes (fourth paragraph.)

Are you one who say the poor and middle class do not deserve what they have, so lets take it away and help the rich?[/SIZE]

Of course not. This is a dishonest article. Big surprise coming from CBS news, I know. For example, take a look at the average tax cut the article claims the top 20% will receive--$16,134, or 5.4%. Do the math. Divide $16,134 by 5.4% and you will see that the claim is that the top 20% are currently paying $298,777 in taxes. Now, think about that for awhile. Is that honest? Is that accurate? No.

Furthermore, the article states that the study does not take into account the added tax revenues from closing loopholes and eliminating deductions (sixth paragraph.)

Therefore, article ignored.

 

[targus]

Approximately 60% don't pay any taxes.

Some get money back on top of that.

$149 hardly seems like a big deal.

I doubt that very many of the 60% not paying taxes now would end up actaully paying even the $149 anyway.

 

[mandym]

Are you one who say the poor and middle class do not deserve what they have, so lets take it away and help the rich?

They all deserve what they have including the rich.

 

[billwald]

And when the bottom 80% are serfs they will hardly pay any taxes at all same as the bottom 60% serfs.

 

[Don]

This is meant to be facetious: What better incentive to work harder and make more money, than the "carrot" of less taxes?

Back to serious mode.

 

[carpro]

Raise taxes on the poor and middle-class, but don't touch the rich. They need their more more than others ... or so it would seem.

Cry me a river.



When the poor start paying taxes, let us know.