Dick Tuck
Board Troll
- Aug 29, 2009
- 8,511
- 505
- 48
Attack the middle class so the rich can get richer.
http://www.taxpolicycenter.org/UploadedPDF/1001628-Base-Broadening-Tax-Reform.pdf
Some highlights:
...
http://www.taxpolicycenter.org/UploadedPDF/1001628-Base-Broadening-Tax-Reform.pdf
This paper examines the tradeoffs among three competing goals that are inherent in a revenueneutral income tax reformmaintaining tax revenues, ensuring a progressive tax system, and
lowering marginal tax ratesdrawing on the example of the tax policies advanced in presidential
candidate Mitt Romneys tax plan. Our major conclusion is that any revenue-neutral individual
income tax change that incorporates the features Governor Romney has proposed would provide
large tax cuts to high-income households, and increase the tax burdens on middle- and/or lowerincome taxpayers.
Some highlights:
Even if tax expenditures are eliminated in a way designed to make the resulting tax system as progressive as possible, there would still be a shift in the tax burden of roughly $86 billion from those making over $200,000 to those making less than that amount,
...
Americans making over $1 million would see an increase in after-tax income of 4.1 percent (an $87,000 tax cut), those making between $500,000 and $1 million would see an increase of 3.2 percent (a $17,000 tax cut), and those making between $200,000 and $500,000 would see an increase of 0.8 percent (a $1,800 tax cut).