MITT ROMNEY WON’T RELEASE HIS TAX RETURNS, SO AMERICANS CAN SEE WHETHER HE PAID ANY TAXES AT ALL SOME YEARS, HE HAS SWISS BANK ACCOUNTS, AND WON’T HONESTLY ADDRESS HIS BAIN CAPITAL TENURE. WHY SHOULD AMERICANS VOTE FOR THIS MAN, WHEN HE HAS CLEARLY NO INTENTION OF FOLLOWING THE RULES THAT EVERY OTHER PRESIDENTIAL CANDIDATE HAS FOLLOWED?
WHY SHOULD ANY AMERICAN VOTE FROM THIS LIAR WHO HIDES HIS MONEY IN OFFSHORE ACCOUNTS, USES EVERY LOOPHOLE, AS NOT TO PAY ANY TAXES HE CAN LEGALLY GET AWAYY WITH, WHO DISTORTS HIS RECORD AS GOVERNOR OF MASSACHUSETTS, ATTEMPTS TO CLAIM CREDIT FOR THE AUTO BAILOUT?
Mitt Romney has proposed a $5 trillion tax plan that provides large tax cuts to the wealthiest Americans. At times, he has claimed that he will pay for his plan by closing tax deductions and other tax benefits, but refuses to say which ones. Today, an independent analysis showed that such a plan would require raising taxes by an average of more than $2,000 a year on middle-class families with children to pay for his massive tax cuts for the wealthiest Americans. As a result, it would raise taxes on millions of middle-class families so he can cut taxes for the most fortunate households. Read the study from Tax Policy Center.
HOW THE ROMNEY PLAN WOULD IMPACT FAMILIES
1. $2,500 tax increase for a married couple with two children and income of $100,000.They live in Virginia and pay $6,500 in state income and property taxes, pay $1,700 a month on their mortgage, donate $1,000 a year to charity, and receive health benefits from work worth $15,000 a year. Even though this family would receive a sizable tax cut from the Romney plan’s rate reductions, it would be dwarfed by the cuts to their Child Tax Credit and deductions for mortgage interest, state and local taxes, and charitable giving, and the taxes they would have to pay on their employer-provided health insurance.
2. $2,200 tax increase for a single mother with one child earning $20,000 a year. She would not benefit at all from reduced tax rates, and would see her Child Tax Credit and Earned Income Tax Credit cut by more than half.
3. $500 tax increase for a married couple with an income of $45,000. The couple, which has no children, rents its home and claims the standard deduction rather than itemizing. They are covered by an employer health plan worth $15,000. Even though they claim no other tax benefits, the new taxes they would have to pay on a portion of the value of their health insurance would still be larger than what they would receive from the Romney plan’s rate cuts.
4. $259,000 tax cut for a couple earning $10 million a year. A married couple with income of $10 million that claims $1.5 million of itemized deductions would get a net tax cut of $259,000.
Read these articles on how Romney’s tax policy is not a friend of the MIDDLE CLASS, but instead his tax policies CATER to the RICH.
Bloomberg, Committee for a Responsible Federal Budget
[CBPP] Center on Budget & Policy Priorites
TPC Tax Policy Center-7-10-2012
Fareed Zakaria, Washington Post
WHY SHOULD “YOU PEOPLE” THINK THIS MAN HAS ANYTHING CREDIBLE TO OFFER AMERICANS IN THE WAY OF TAX RELIEF? LESS FOR US, MORE FOR MITT!
TELL.THE.TRUTH.STEPHANIE!
Nine takeaways on Romney’s tax plan
By Ezra Klein , Updated: August 2, 2012
1) The Tax Policy Center bent over backwards to make Romney’s promises add up. They assumed a Romney administration wouldn’t cut a dollar of tax preferences for anyone making less than $200,000 until they had cut every dollar of tax preferences for everyone making over $200,000. They left all preferences for savings and investment untouched, as Romney has promised. They even tested the plan under a model developed, in part, by Greg Mankiw, one of Romney’s economic advisers, that promises “implausibly large growth effects” from tax cuts. The fact that they couldn’t make Romney’s numbers work even when they stacked all these scenarios on top of one another shows just how impossible Romney’s promises are.
2) The reason Romney’s plan doesn’t work is very simple. The size of the tax cut he’s proposing for the rich is larger than all of the tax expenditures that go to the rich put together. As such, it is mathematically impossible for him to keep his promise to make sure the top one percent keeps paying the same or more.
3) This is going to be a huge problem for the Romney campaign. The Romney team has tried to paper over the fact that its policy promises don’t add up by withholding the crucial details that independent analysts need to do the math. But now independent analysts are filling in those details for them (the Tax Policy Center’s look at Romney’s tax plan should be read in tandem with the Center on Budget and Policy Priorities effort to flesh out his spending promises). And, ultimately, that’s worse, as actors with more credibility than the Romney campaign are showing what the Romney campaign was trying to hide.
4) Evidence the Romney campaign does not have a good counterargument, part one: If they thought releasing more details would make the plan look better rather than worse, they would have released them rather than letting outside organizations fill in the blanks. It’s essentially the same theory as refusing to release the tax returns. But now the Romney campaign is receiving pressure — including from conservatives — to release those details, which they know they can’t do. And unlike on the tax returns, no one can say that the details of Romney’s plans for governing the country are irrelevant to this campaign
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READ THE REST HERE: http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/02/nine-takeaways-on-romneys-tax-plan/?print=1
Thanks for this additional ammo, Ametia. Much of it went straight to my FB page. Many of my FB friends are conservative-leaning non-thinkers who believe anything a republican says as long as it includes the words I am a Christian, I am pro life, and I am anti-immigrant. My job is to force them to face facts about Romney and the republicans in Congress. When I first began to post information about the republicans being liars, hypocrites, and dishonorable individuals, I got some push back, but as time has passed and I’ve been posting information about Romney’s incompetence and it’s proving to be true, I have received no push back. I think they’re demoralized. They should be because it was their votes for Bush that caused the mess that PBO has been trying to clean up for over three years in the face of extreme republican obstruction. Romney won’t explain his economic plan because he can’t. He has no clue how it would work. The only thing he knows is that he wants to make sure that he and other wealthy Americans keep their huge tax cuts, and this is the most important thing to him. In Romney World, the peasants, known as the poor and the middle class, serve only one purpose, and that’s to provide the votes that put him in the WH.
Thanks for helping share the INFORMATION, majiir. Smothering them wiith the TRUTH. Don’t worry if they don’t ingest it, just keep pouring it in them.
Who is fighting for middle class tax cuts?
President Obama vs. Mitt Romney
Click here enter your income and calculate your taxes using both plans.
http://www.barackobama.com/tax-calculator
My dear ladies, when one is engaged in generational Class Warfare designed to grind down the Middle Class and plunge 19 in 20 Americans into Wage Slavery and Serfdom one can’t expect to release information to future serfs showing you’ve been robbing them! R-Money!!!
He can go can go take a long run off a short pier,l can’t pay the bills we have let alone give that j___ a__ another tax cut.Wake up people he hasen’t got a clue how hard the republicans has made life for us peeons. It’s a horrible feeling when you can’t even afford to buy toilet paper,this guy is a moron,VOTE OBAMA all the way.