Study: Romney tax plan would shift burden to poor
August 1st, 2012
11:26 AM ET
2 years ago

Study: Romney tax plan would shift burden to poor

New York (CNNMoney) - Mitt Romney's tax plan would provide large tax cuts to the very wealthy, while increasing the tax burden on the lower and middle classes, according to a study released Wednesday.

The report - produced by researchers at the Urban-Brookings Tax Policy Center - illustrates just how difficult it would be to recoup government revenue lost under Romney's plan.

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Filed under: 2012 • Mitt Romney • Taxes
soundoff (57 Responses)
  1. 97 Days until Obama is RE-ELECTED

    Would Romney's tax plan be the same asinine plan that Ryan proposed?? How is this $5 TRILLION tax break for the wealthy plan going to being paid for? On the backs of the 99% as usual.
    Hey right wing nut lemmings, how does this fit with the Grand Obstructionist Party mantra of less govt and lower taxes? ????
    How can you vote for a party shill that is planning to give your hard-earned money to people who already have PLENTY of it ??? You find this less repugnant than giving to the Federal Govt ??

    August 1, 2012 11:33 am at 11:33 am |
  2. The Elephant In The Room

    This has been happening for over 30 years. It started under the GOP`s beloved Ronald Regan and the UNFUNDED Bush tax cuts simply accelerated it.

    For 30 years, people like Romney have benefited from this stacked game. Mitt doesn`t want to show his tax recors because they will show that he was amassing WEALTH while paying a LOWER TAX RATE than most teachers, firefighters or police. America can`t stomach the working class getting the shaft like that, while Willard skates by.

    Come clean, Governor Romney. Show us 12 years of tax return, just like your Father did.

    August 1, 2012 11:36 am at 11:36 am |
  3. Rudy NYC

    Everyone on the planet knows Romney's plan is the wrong thing at the wrong time, except those who believe in "trickle down economics."

    August 1, 2012 11:36 am at 11:36 am |
  4. king

    hey as the repubs say, stop steeling from the rich to give to the poor. but its alright to trick the american gullibles and steel from the poor and give to the rich, to outsource our money and jobs to other third world nations to by pass american expensive middle class wages. lesson folks if we lose obama in these times of global technology filled 21st century, the american people will be left to fend for themselves. contrary to popular rants by the repubs. business are in business to make money at any way possible to please their international shareholders, their is no patriotism in this cut throught business world. obama is trying to force businesses to do the right thing and stay here by starting a massive rebuilding of america, while barrowing are the lowest in history. the rich should be paying more taxes, since they are the ones that going to feasting on this bounty of modernizing america. lets start rebuilding folks.

    August 1, 2012 11:36 am at 11:36 am |
  5. Wire Palladin, S. F.

    Romney and Ryan have been trying to give bigger tax breaks to the wealthy and expect seniors, the middle class, and the poor to pay for $3 trillion of the $5 trillion that Mittens will add to our national debt. KMA Mittens.

    August 1, 2012 11:39 am at 11:39 am |
  6. edog

    And what will the GOP and Mitt's response be to the middle class? "Don't worry, the money that the millionaires will get from our tax policies will TRICKLE DOWN to you since the millionaires are the JOB CREATORS". Anyone from the middle class that votes for Romney needs to get EDUCATED!!

    August 1, 2012 11:40 am at 11:40 am |
  7. Governor 47th In Job Creation (Excluding Off-shored to China and India)

    Of course. This Mitt-twitt plutocrat is running for President to establish rules that would favor himself and his fellow 1%ers. There is a reason right now while he won't release his taxes so that we can all see that he's currently paying much less a percentage than people that actually make things and earn under $250,000; in addition to the fact that his policies will harm the middle class and give even more preferential treatment to Willard's already priviledged few. Why do you think the billionaire boys Koch and Adelson are dumping as much cash as they can to this failed candidate? Greed.

    August 1, 2012 11:40 am at 11:40 am |
  8. mike the electrician

    What does he care, he has to protect himself and his rich buddies.

    August 1, 2012 11:41 am at 11:41 am |
  9. Wire Palladin, S. F.

    How can you convince the viewers of Fox foreign owned extreme media that passing the tax breaks for the wealthy onto the rest of us and our grand children is not a good idea for our country?

    August 1, 2012 11:42 am at 11:42 am |
  10. Sniffit

    "The Romney campaign did not immediately return a request for comment."

    One would think that if they're so informed and gung-ho and supportive of their "plan," they would be PREPARED AND EAGER to discuss details the defend it. COWARDS.

    I'm thinking, at this point, someone should just make a freekin bumper-sticker that literally just says "The Romney campaign did not immediately return a request for comment".

    August 1, 2012 11:43 am at 11:43 am |
  11. jacque Go USW

    That's the plan. He's a down right crook. Out for no one but himself.If your crazy enough to believe him your just that crazy. This Guy has not once went out a spoke to us working people were beneath him. You heard what the reporter said. He not once went to the back of the plane coming back from Poland to sit with the little people. He's so out of touch he's pathetic.

    August 1, 2012 11:44 am at 11:44 am |
  12. Wire Palladin, S. F.

    Mittens needs bigger tax cuts so he will have more money to hide overseas. KMA Mittens.

    August 1, 2012 11:44 am at 11:44 am |
  13. Vidyashanti

    He does not care as long as he & his buddy billionaires make money 'legally' paying almost 'zero' income tax. That is call success. What part you can not understand?

    August 1, 2012 11:45 am at 11:45 am |
  14. Jules

    And then we will have more poor who will need more help and that will also increase the deficeit. These guys are dumb as dirt thinking that there will be a different result from the same old trickle down policies.

    August 1, 2012 11:48 am at 11:48 am |
  15. the Situation

    Duh! The worst kept secret. MItts don't want to taxes his rich buddies, put the burden of America's debt on the poor & middle class, while his pals can build more homes, have more tax shelters. GREAT!

    August 1, 2012 11:48 am at 11:48 am |
  16. Observer

    The truth is finally coming out, showing how Mitt Romney supports placing the burden on the poor, middle class, and seniors while giving more tax cuts to the rich.

    August 1, 2012 11:49 am at 11:49 am |
  17. NameChi

    Well Romney and his 1% & 2% friends dont care about the rest of us, as long as the rich keep staying Rich!!!

    August 1, 2012 11:55 am at 11:55 am |
  18. Name Jeremy@Dallas

    He will deny this or flip flop on his plan. Is this guy a TRUE REPUBLICAN or a Martian nominated candidate?

    August 1, 2012 11:57 am at 11:57 am |
  19. Wire Palladin, S. F.

    Mittens is not worried about the poor, they have a safety net until he is elected. KMA Mittens.

    August 1, 2012 11:58 am at 11:58 am |
  20. jane

    Typical....Something is wrong with this guy...He wants to tax those less fortunate...Yet, doesn't wish to show the American people his tax returns....WOW

    August 1, 2012 11:58 am at 11:58 am |
  21. charles

    What else is news? The Reperps will continue to hurt those that can't hep themselves and the incoherent zombies that worship them will follow suit out of ignorance and greed.

    August 1, 2012 12:00 pm at 12:00 pm |
  22. Sniffit

    Nothing says "freedom, economic satbility and egalitarianism" like "eviscerate the proletariat"!!!!

    But hey, let's be real and serious here for a moment...isn't the obvious mathematical/algebraic solution to the deficits and debt is to decrease gov't revenue? I mean, isn't that first thing everyone does with their own household budgets when faced with expenses they're having trouble meeting? I know it's the first option that goes through my head when I'm having trouble with the mortgage or the kids' college tuitions: "you know, I should go ask my boss to pay me less tomorrow....that'll help the mortgage and tuition situations lickity split!!" Then the bath salts wear off.

    August 1, 2012 12:00 pm at 12:00 pm |
  23. Four and The Door

    Romney refuses to say which tax breaks he plans to eliminate - but the Tax Policy Center report indicates the plan would force the tax burden to shift toward lower and middle-class Americans.
    ______________________________________________________________________________________________
    But read this closely. They are just speculating and guessing which means exactly nothing. This report is a waste of time and energy but somehow they feel the need to publish without full information.

    August 1, 2012 12:02 pm at 12:02 pm |
  24. Logic N LA

    Is anyone shocked by this? The man is right out of 18th century France.
    The GOP will never look at the little guy- remember this when you vote in November

    August 1, 2012 12:08 pm at 12:08 pm |
  25. Bill

    The endgame will soon be at hand for the worst general election candidate in 50 years. And news coming out today that Mittens pay not have paid any income tax for ten years. As was duly noted, he could not even pass muster as a congressional candaidate because of his refusal to release his tax returns. This guy is toast. Would you please pass the jelly?

    August 1, 2012 12:08 pm at 12:08 pm |
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