Wealthy would cash in under Romney tax plan
March 1st, 2012
05:43 PM ET
10 years ago

Wealthy would cash in under Romney tax plan

New York (CNNMoney) - Mitt Romney's new tax plan would mean lower taxes for most Americans. But some would benefit more than others.

According to a new analysis from the Tax Policy Center, wealthy Americans would see their taxes fall precipitously under Mitt Romney's new plan - which scraps the Alternative Minimum Tax and cuts marginal tax rates by 20%.


Filed under: 2012 • CNNMoney.com • Mitt Romney • Taxes
soundoff (23 Responses)
  1. Wire Palladin, S. F.

    With all the tax breaks and financial help that Mittens is promising the wealthiest Americans if he is elected, we now know why the Kochs and Rove are backing Mittens with over a half of a billion dollars.

    March 1, 2012 05:51 pm at 5:51 pm |
  2. the Situation

    What a surprise! That was the worst kept secret of the past couple of months! Jeez!

    March 1, 2012 05:57 pm at 5:57 pm |
  3. Dave

    Fine, I LL tone it down. Gee imagine that, a filthy rich man helping widen the gap till there is only The Upper Class & The Lower Class & no MIDDLE class. He DONT GIVE A DAMN ABOUT THE MIDDLE CLASS & WORKIN MEN & WOMAN in this great Country!!!!

    March 1, 2012 05:58 pm at 5:58 pm |
  4. noe

    So obvious! We all know that!

    March 1, 2012 05:59 pm at 5:59 pm |
  5. Rudy NYC

    We've known this since last summer. Someone had estimated then that Romney's plan could save the Koch brothers $4 billion annually..

    March 1, 2012 06:08 pm at 6:08 pm |
  6. Mikey

    Of course. Tax giveaways to the wealthy. Not Robin Hood, but RomneyHood. Robs from the rest to give to the rich. So noble of him.

    Romney says he will cut taxes (aparently, especially for the rich), increase defense spending, protect social security and medicare, AND balance the budget. The math won't work. It's a lie – the same lie that caused our national debt to triple during the Reagan Administrations. Tell Romney – WE WON'T BE FOOLED AGAIN !!!

    March 1, 2012 06:18 pm at 6:18 pm |
  7. Jen

    Of course it would, do you really think he is for the middle or poor people.

    March 1, 2012 06:20 pm at 6:20 pm |
  8. They ought to change from the elephant to the hippo...

    Hey... Why don't we just have a "rich" threshold? If you earn (or somehow "acquire" a million dollars or more per year, you pay NOTHING in taxes. That way the "rich" people would be happy (although probably not) by having more and it would act as an incentive for all those poor, lazy, old, diseased, and disadvantaged folks to become rich, so that they could avoid taxes and trickle down on others, too!

    Maybe I could run for Republican President!

    March 1, 2012 06:35 pm at 6:35 pm |
  9. Attila, The Hun

    Why do you think the establishment GOP = GREEDY OPPOSITION PARTY is backing him? Of course none of RoMoney's tax cuts add up to ever getting to a balanced budget much less ever paying off the national debt. Who cares – just leave it to the next generation.

    The guy is just a pandering fool who is unfit to be president.

    March 1, 2012 06:49 pm at 6:49 pm |
  10. justin wait

    Interesting- Our tax code is not about fairness it is about controllig our behavior. Every line of code, every 'loophole' or deduction or rate has been designed to alter behavior. So, I'm not about to get bent over such tactics. I certainly am not going to get bent about people being able to keep what they earned. It is not the person who put into the pot that is the problem. There is only a problem when people take out of the pot. I'm not going to grow angry at those dropping into the pot.

    March 1, 2012 06:53 pm at 6:53 pm |
  11. vote the Tea Party OUT in 2012

    and he'll still have some that want to put him in the White House and it won't all be wealthy ones either,

    March 1, 2012 07:02 pm at 7:02 pm |
  12. vic , nashville ,tn

    We are telling this long time back if Mitt win rich will became super rich

    March 1, 2012 07:15 pm at 7:15 pm |
  13. logicnLA

    Quick poll: who's shocked?

    March 1, 2012 07:15 pm at 7:15 pm |
  14. American

    Not surprising...Mr. 1% Romney bought & paid for by the 1% off the backs of privatizing our seniors' Medicare & other Americans who can least afford it.

    No thank you.

    March 1, 2012 07:27 pm at 7:27 pm |
  15. GI Joe.

    What's new? They take care of their own so they can donate to their campaigns, thus allowing them to buy more votes.

    March 1, 2012 07:30 pm at 7:30 pm |
  16. Dixon

    The rich will always cash in when republicans are in office. The republican party has always beat down the little guy, then say President Obama is using class warfare. The republicans have been experts at class warfare, now they have become experts at passing the blame. The fact is that the super rich control 90% of the wealth. The disparity grows everytime republicans are in control.

    March 1, 2012 07:31 pm at 7:31 pm |
  17. Josaphat Daniels

    No wonder his millionaire buddies are pouring millions into his super pac ads, so that they can get it all back with interests
    when he becomes president. Unfortunately for him the middle class and the lower class are not going to stand for this so
    you and your 1% can take your dollars and shove it where the sun don't shine. America is not for sale.

    March 1, 2012 07:43 pm at 7:43 pm |
  18. Josaphat Daniels

    I repeat America is not for sale. If you want to sell America vote republicans but if you want restore America vote Democrats.

    March 1, 2012 07:47 pm at 7:47 pm |
  19. Jilli

    Wow. What a surprise – Mr. 1% of the 1% is taking care of himself and his own. He'd also balloon the deficit after claiming that he would put us on the path to a balanced budget. It's all hooey. Bush had business experience, just like Romney – and look at the disaster he left behind. I'm not buyin' what you're sellin' Willard.

    March 1, 2012 07:53 pm at 7:53 pm |
  20. kayla

    how gross

    March 1, 2012 07:59 pm at 7:59 pm |
  21. Church

    Well... Duh!

    March 1, 2012 08:12 pm at 8:12 pm |
  22. NoTags

    Willard's plan throws the average American a few crumbs while the top 1% get's the cake.

    March 1, 2012 09:08 pm at 9:08 pm |
  23. gee

    Money talks and everything else walks.

    March 1, 2012 09:11 pm at 9:11 pm |