According to the Associated Press (AP) Republican Tea Party (GOTP) presidential hopeful Mittens Romney’s so-called “tax plan” would increase taxes on low-income families while (wait for it) cutting taxes for the middle-class and the rich.
It appears Mittens plan would increase taxes on households making less than $20,000 by more than 60 percent, while households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, and anyone making more than $1 million would get tax cuts averaging 15 percent, or about $146,000.
So, just to recap, those making $1 million or more get a 15% tax cut, those making $50 to $70K would get a 2.2% tax cut and everyone else will get screwed with a 60% tax increase?!
On top of sticking it to the poor, Romney’s plan would reduce tax revenues by $180 billion in 2015, adding to the federal budget deficit. Of course Mittens campaign disputes those numbers claiming tax breaks to the wealthy will create jobs and spur the economy, blaah, blaah, blaah …
Romney’s plan would cut the top corporate tax rate from 35% to 25%, eliminate investment taxes for the middle class and make permanent a massive package of tax cuts first enacted under President George W. Bush. He said he’d also repeal tax increases on the wealthy enacted as part of President Barack Obama’s health care package.
But wait, that’s not all, Mitten’s plan would allow tax cuts enacted under President Obama as part of the massive economic stimulus package passed in 2009 to expire; and here’s the kicker, those tax cuts targeted low-income families with children, including many people who don’t make enough money to pay any federal income taxes. They included an expanded tax credit for college students, a more generous Earned Income Tax Credit for families with three or more children, and a more generous child tax credit for low-income families.
Romney isn’t interested in helping anyone who isn’t wealthy, he isn’t interested in spurring the economy, he’s interested in using the office of the President of the United States to help improve only one part of the nation’s population, the top 1% – his own. There’s only one group that benefits from his “tax plan”, and that’s the wealthy, I guess it’s immaterial the President is supposed to represent all the people, but to Mittens it’s only the wealthiest of We the People. Of course there’ll be great groups of naïve conservatives, with their FOX addled minds who will rush to vote for Romney because they want to protect their interests for when they too become millionaires. WAKE UP! You’ve a better chance of being abducted by space aliens than of ever belonging to the top 1%.