Thursday, February 23, 2012

Mitt Romney says his new tax plan...

...isn't designed to help the top one percent. 

According to Chris Cillizza's blog in the Washington Post (my emphasis): 

“I’m going to limit the deductions and exemptions particularly for the higher-income folks,” the GOP presidential candidate said at a campaign stop in Mesa, Ariz. “For high-income folks, we’re going to cut back on that, so that we ensure that the top 1 percent keeps paying the current share they’re paying and more.” 

Uh huh. 

Under Romney’s proposal, the top personal income tax rate would fall from 35 percent to 28 percent, and the corporate tax rate would drop from 35 percent to 25 percent. As in previous proposals, Romney would eliminate the estate tax. 

According to the Tax Policy Center, the new plan would give the average American in the top 1 percent an $86,535 tax cut.

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