theatlantic: How Romney’s Tax Plan Could Raise Taxes on 95% of the Country The Romney plan begins by cutting marginal rates by 20 percent and eliminating the estate tax and Alternative Minimum Tax, which would decrease federal tax revenue by $360 billion by 2015. A new report from the Tax Policy Center and the Brookings Institution considered what would happen if Romney eliminated tax expenditures to make his plan revenue-neutral, so that it wouldn’t blow an enormous hole in our budget. Here’s what they found: The revenue-neutral Romney plan would raise taxes on a typical family by more than $600. A household making between half-a-million and $1 million would get a tax cut equal to almost twice the disposable income of the poorest 20 percent. Read more. [Image: Derek Thompson]

theatlantic:

How Romney’s Tax Plan Could Raise Taxes on 95% of the Country

The Romney plan begins by cutting marginal rates by 20 percent and eliminating the estate tax and Alternative Minimum Tax, which would decrease federal tax revenue by $360 billion by 2015. A new report from the Tax Policy Center and the Brookings Institution considered what would happen if Romney eliminated tax expenditures to make his plan revenue-neutral, so that it wouldn’t blow an enormous hole in our budget. Here’s what they found: The revenue-neutral Romney plan would raise taxes on a typical family by more than $600. A household making between half-a-million and $1 million would get a tax cut equal to almost twice the disposable income of the poorest 20 percent.

Read more. [Image: Derek Thompson]

(via williamnewton)

Aug. 1 2012
Via The Atlantic
#politics #Romney #taxes
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  10. the-cinnamon-peelers-wife reblogged this from motherjones and added:
    Someone please explain to me the reasoning behind this. Please.
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  16. crpalo reblogged this from theatlantic and added:
    Revenue neutral, eh.
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  30. dulcetaccord reblogged this from motherjones and added:
    This is what bothers me. You do percentage comparisons, and the top tax bracket has been making out like bandits the...