Mittens Romney has stated that he plans on cutting taxes by 20% for all Americans, including the wealthiest of Americans.
On NBC's Meet The Press Sunday morning, Romney said the following:
"Well I can tell you that people at the high end, high-income taxpayers, are going to have fewer deductions and exemptions. Those numbers are going to come down. Otherwise they'd get a tax break, and I want to make sure people understand, despite what the Democrats said at their convention, I am not reducing taxes on high-income taxpayers. I'm bringing down the rate of taxation, but also bringing down deductions and exemptions at the high end so that the revenues stay the same, the taxes people pay stay the same -- the middle income people are going to get a break, but at the high end the tax coming in stays the same..."
Eh, what? Under him, the wealthiest of Americans, like everyone else, will see their taxes decrease, but won't be receiving any tax cuts and their taxes will stay the same? Something isn't adding up right in this equation. Under Romney's plan, it's estimated that the wealthiest Americans will receive a $264,000 tax break, while middle-class families will see their taxes increase by as much as $2,000. I keep telling people that 2 + 2 = 4, but it appears as if the Romney/Ryan team believe in a different form of math. While there's a "Math for Dummies" book that is available for purchase, I have a wild theory that Romney and Ryan will author their own book before long and title it, "Math by Dummies". Indeed...
http://thinkprogress.org/economy/2012/09/09/816841/romney-says-his-plan-to-cut-taxes-on-the-rich-doesnt-actually-cut-taxes-on-the-rich/
On NBC's Meet The Press Sunday morning, Romney said the following:
"Well I can tell you that people at the high end, high-income taxpayers, are going to have fewer deductions and exemptions. Those numbers are going to come down. Otherwise they'd get a tax break, and I want to make sure people understand, despite what the Democrats said at their convention, I am not reducing taxes on high-income taxpayers. I'm bringing down the rate of taxation, but also bringing down deductions and exemptions at the high end so that the revenues stay the same, the taxes people pay stay the same -- the middle income people are going to get a break, but at the high end the tax coming in stays the same..."
Eh, what? Under him, the wealthiest of Americans, like everyone else, will see their taxes decrease, but won't be receiving any tax cuts and their taxes will stay the same? Something isn't adding up right in this equation. Under Romney's plan, it's estimated that the wealthiest Americans will receive a $264,000 tax break, while middle-class families will see their taxes increase by as much as $2,000. I keep telling people that 2 + 2 = 4, but it appears as if the Romney/Ryan team believe in a different form of math. While there's a "Math for Dummies" book that is available for purchase, I have a wild theory that Romney and Ryan will author their own book before long and title it, "Math by Dummies". Indeed...
http://thinkprogress.org/economy/2012/09/09/816841/romney-says-his-plan-to-cut-taxes-on-the-rich-doesnt-actually-cut-taxes-on-the-rich/
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