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Under that system, Romney would pay a rate of a little under 15 percent because virtually all his income is from capital gains and dividends.
The group calculates that this means Romneys plan would give him a tax cut of more than 40 percent.
This doesn't even include Romneys proposal to cut corporate taxes from 35 percent to 25 percent, which would primarily benefit wealthy shareholders like himself, Robert McIntyre, the director of Citizens for Tax Justice, tells me.
Romney’s tax plan would cut his own taxes by nearly half, new analysis finds - The Plum Line - The Washington Post
Taxes would fall for the countrys wealthiest and rise for some of the poorest under the tax plan proposed by former Massachusetts governor Mitt Romney, according to an analysis released yesterday by the nonpartisan Tax Policy Center.
The reduced government revenue could widen the countrys budget deficit by at least $180 billion, according to the analysis of Romneys 59-point, 160-page economic plan.
But Romneys plan would be far less drastic than those proposed by some of his rivals in the GOP presidential race. Newt Gingrich, the former House speaker from Georgia, would increase annual deficits by $850 billion, and the plan proposed by Governor Rick Perry of Texas would increase them by $570 billion a year, according to analyses previously released by the center.
Group analyzes Romney tax plan - Boston.com
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When ever the top 1% has come close to taking over the country, the middle class and the rest of the country does terrible. They may be able to squeeze the last few dollars out of a company, but if you squeeze the last few dollars out of a country, what are those dollars worth? The strength of currency is directly related to the strength of the economy. That's just common sense.
