Aww bless, so he wants to make the rich richer and the poor poorer? Who could have possibly imagined that?
Originally Posted by HP
WASHINGTON, Aug 1 (Reuters) - Republican U.S. presidential challenger Mitt Romney's proposal to slash individual income taxes by 20 percent across-the-board would primarily boost the income of the wealthiest taxpayers, according to a nonpartisan analysis released on Wednesday.
The report by the centrist Tax Policy Center found that Romney's tax cuts would boost after-tax income by an average of 4.1 percent for those earning more than $1 million a year, while reducing by an average of 1.2 percent the after-tax income of individuals earning less than $200,000.
Tax policy and how to tame the U.S. government's budget deficit, topping $1 trillion in recent years, is a major point of contrast in the presidential race, in which Romney will face President Barack Obama on Nov. 6.
Romney, a multi-millionaire who made his fortune at private equity firm Bain Capital, has not spelled out how he would lower marginal tax rates. But he has said broadly he would cut some tax benefits for the wealthy.
Because the value of the 20 percent tax cut for richer Americans would exceed the gains they get from popular tax breaks that Romney would chop, they would see the greatest income gain from Romney's possible changes, the study said.
I will make a few PROMISES..they are to LIE CHEAT DRINK SWEAR &STEAL
ge placed an order with wind turbine manufacturer ati casting but then canceled it in order to get the parts cheaper from china. ati offered to match the chinese price but ge refuses to reinstate its order to the u.s. company.