Romney on Taxes: Deny, Distract, Dissemble
August 02, 2012
Twenty-four hours later, the conservative reaction to a devastating report about Mitt Romney’s tax plan is proving almost as interesting as the report itself. The report, published by the Brookings-Urban Tax Policy Center, demonstrated that Romney’s plan, if implemented, would reduce taxes for the wealthiest 5 percent of Americans but increase taxes for everybody else.
Attention middle-class Americans: One of the men running for president wants to raise your taxes. And it's not the guy who has the job already. For some time, Mitt Romney has been promising to reduce income tax rates and then pay for these cuts by closing loopholes. But he's never specified which loopholes he'd close and now we know why.
The Great Tax Cut Debate
August 18, 2010
The tax cut debate is often framed as Democrats proposing tax cuts for just the middle class and Republicans proposing tax cuts for everybody. The reality, as captured by Adam Looney of the Brookings Institution -- is that both parties propose tax cuts for everybody -- Republicans also propose enormous tax cuts for just the rich: Maybe you think that's unfair -- of course the rich would get more, they make more money and pay more in taxes. Okay, here is the breakdown as a percentage of after-tax income: