Politics
Out of context: Reply #17280
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- ukit20
Analysis of Romney's tax policies:
http://www.dailykos.com/story/20…
Specifically, it would be a tax hike for everybody making less than $40,000, and the lower your income, the bigger a percentage of it would go to paying for the Romney tax hike.
Everybody else would get a tax cut, but unless you make more than $100,000, the tax cut would be quite modest, ranging from as little as $27 to as much as $490. That's not nothing, but for those making more than $1 million, the Romney tax cut would average $145,568.
But the numbers that struck me most were these: on average, every American would receive a $1,064 tax cut. But the top 1% would receive on average an $82,188 tax cut and the top 0.1% would receive a $464,005 tax cut. Do a little math and you'll see that 77% of Mitt Romney's tax cut would go to the top 1%—and 44% would go to the top 0.1%.
Oh, and that's not all—the tax cut would also add to the deficit.