Message #1565

[kentay]

From TPC:

And:³ Compared with the current law baseline, the Romney plan (absent base broadening) would cut taxes for about three-fourths of taxpayers by an average of more than $7,000. In contrast, compared with current policy, about 11 percent of tax units would see their 2015 taxes go up an average of nearly $900 while 70 percent would get tax cuts averaging almost $4,300. The tax increases reflect the expiration of three provisions enacted in 2009: the American Opportunity Tax Credit and the expansion of the earned income credit and the child credit.

 

The Tax Policy Center (TPC) caused a kerfuffle on Wednesday when they released a study that However, the only tax breaks and loopholes large enough to offset the cost of the high-end tax cuts disproportionately benefit the middle class. Thus, their taxes would go up on balance.

http://www.forbes.com/sites/leonardburman/2012/08/03/tpc-removes-the-veil-from-romney-tax-plan-the-governor-is-not-amused/