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…

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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

    cards6.wordpress.com

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