Non-Partisan Tax Center: Romney Plan Raises Middle-Class Taxes, Lowers Taxes for Wealthy

“A small nonpartisan research center operated by professed “geeks” has found itself at the center of a rancorous $5 trillion debate between President Obama and Mitt Romney.

No white paper or policy manifesto put out during the presidential campaign has proved more controversial than an August study by the Washington-based Tax Policy Center, a respected nonprofit that issues studiously detailed tax analyses.

That study found, in short, that Mr. Romney could not keep all of the promises he had made on individual tax reform: including cutting marginal tax rates by 20 percent, keeping protections for investment income, not widening the deficit and not increasing the tax burden on the poor or middle class. It concluded that Mr. Romney’s plan, on its face, would cut taxes for rich families and raise them for everyone else.”

Many economists across the political spectrum have said they found the report’s conclusions convincing, like Alan D. Viard, a tax expert at the right-of-center American Enterprise Institute.  In other words, even conservative-leaning tax centers agree with this study!!!

Mr. Sullivan of Tax Analysts said: “I like tax reform. I want to broaden the base. It’s something I’ve devoted my life to. And I welcome Governor Romney and the Republicans’ strong push, but the plan doesn’t work out. It’s not mathematically possible.”

–>–>FYI…to learm more about how this organization and their tax model are completely non-partisan in nature, read the following excerpt from the same article:

“The center’s claim to provide reliable, nonpartisan information comes in part from its staff makeup. It has about four dozen affiliated staff members and scholars — most are economists, several are considered top experts in their fields, and a number have experience in either Republican or Democratic administrations.

It also is derived by virtue of its ownership of a highly sophisticated tax modeling system, one that took about two years to build and has a small coterie of specialists to tend it. The model resembles those used by government offices to forecast the effect of changes to the tax code, and it relies on about 150,000 anonymous tax returns and a wealth of data on pensions, education, consumer expenditures and economic growth.”

Let me be perfectly honest here, folks.  No matter the words you hear spew forth from Romney’s mouth, his tax plans are specifically designed to benefit the wealthy while forcing the rest of us to pay more in taxes.  Do not be fooled by his lofty rhetoric and ever-changing positions on the major issues.  The Tax Policy Center evaluated the tax plan Romney is promoting and you have the truth here in this article.  A vote for Romney is a vote for the rich.

SCROLL DOWN FOR A LOOK AT HOW INCOMES WILL CHANGE UNDER ROMNEY’S PLAN (Hint: Rich earn more, you earn less):

To read the rest of this article, simply click the following link: http://finance.yahoo.com/news/tax-policy-center-spotlight-romney-173604062.html

Chris

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