Wednesday, October 17, 2012

David Frum cuts through...

...some of the clutter in Mitt Romney's tax "plan." From his blog today (my emphasis):

It is very unlikely to be true that middle-income people will get a tax break in a Romney administration. 80% of Americans pay more in payroll taxes than income taxes. The payroll tax holiday is scheduled to expire at the end of this year, adding 2 points of tax to the liabilities of every worker who earns less than $110,000. That's unlikely to be offset by any plausible income tax cut.

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