The Daily Scoop: Romney plan raises taxes on poor families

WASHINGTON (AP) — Republican Mitt Romney’s tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich, according to an independent study released Thursday.

  • On average, households making less than $20,000 would see their taxes increase by more than 60%
  • Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2%
  • People making more than $1 million would get tax cuts averaging 15%
  • Overall, Romney’s plan would reduce tax revenues by $180 billion in 2015, adding to the federal budget deficit
  • Will repeal tax increases on wealthier individuals as part of the health care reform
  • Allows Stimulus Bill tax cuts expire {which target low-income families with children; expanded tax credit for college students; a more generous Earned Income Tax Credit for families with 3+ children, & a more generous child tax credit for low-income families}…
  • but makes the Bush tax cuts permanent.

Read more…


3 Responses to “The Daily Scoop: Romney plan raises taxes on poor families”

  1. Thanks for the like of my post and keep up the good work standing up for the Democrats
    Convergence of Relevant Stuff


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