Romney Tax Plan Adds $600 Billion to Deficit, Analysis Says
Taxes Saturday, January 7th, 2012
By Steven Sloan, The Washington Post
Republican presidential candidate Mitt Romney is heading into the New Hampshire primary faced with a study that says his tax plan would add $600 billion to the federal deficit in 2015.
A study released yesterday by the nonpartisan Tax Policy Center in Washington compared the revenue that Romney’s tax-code changes would generate with the revenue the U.S. is expected to collect under current law, which assumes that several income tax cuts will expire as scheduled at the end of 2012.
Though the Tax Policy Center said Romney’s tax plan would “reduce federal tax revenues substantially,” the budget hit isn’t as severe as some of his competitors. The same group previously said former U.S. House Speaker Newt Gingrich’s tax plan would increase the deficit by $1.3 trillion and that Texas Governor Rick Perry’s proposal would boost the shortfall by $995 billion.
Romney’s proposal “does more changing around the edges than wholesale getting rid of things,” said Roberton Williams, a senior fellow at the Tax Policy Center. “He would, for instance, maintain the tax on capital income for high income folks, which brings in a lot of money.”
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Short URL: https://reteaparty.com/?p=5424
I don’t trust Mitt Romney and the only way I will vote for him is to keep Obama from being reelected. We should stop allowing the GOP to choose our candidates for us as they stink at it and in my opinion that is how Obama got in, in the first place because they chose John McCain and I am sure that Obama cheated as well.