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SUBJECT:
Romney Tax Plan Would Raise Taxes on 95%
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FROM:
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molly@beaubiden.com
DATE:
2012-08-01 13:26:51
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Kaufman Ted
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Romney Tax Plan Would Raise Taxes on 95%<http://politicalwire.com/archives/2012/08/01/romney_tax_plan_would_raise_taxes_on_95.html>A new Brookings Institution/Tax Policy Center study<http://www.brookings.edu/research/papers/2012/08/01-tax-reform-brown-gale-looney>finds Mitt Romney's plan to overhaul the tax code "would produce cuts for the richest 5% of Americans -- and bigger bills for everybody else." The Washington Post<http://www.washingtonpost.com/business/economy/study-romney-tax-plan-would-result-in-cuts-for-rich-higher-burden-for-others/2012/08/01/gJQAbeCCOX_story.html>notes the researchers seemed "to bend over backward to be fair to the Republican presidential candidate" but "none of it helped Romney." "His rate-cutting plan for individuals would reduce tax collections by about $360 billion in 2015, the study says. To avoid increasing deficits -- as Romney has pledged -- the plan would have to generate an equivalent amount of revenue by slashing tax breaks for mortgage interest, employer-provided health care, education, medical expenses, state and local taxes, and child care -- all breaks that benefit the middle class.
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