The Definitive Timeline Of Romney’s Ever-Evolving Tax Plan
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9/6/11: Romney’s First Tax Cut For The Rich
Promising not to cut taxes for the rich, Romney proposes a plan that would extend the Bush tax cuts, eliminate capital gains taxes for those making under $200,000, cut corporate taxes, and eliminate the estate tax. In all, it adds up to a $6.6-trillion cut that would have little benefit for the middle class, which doesn’t enjoy the same benefits from a capital gains cut as the rich.
2/22/12: Romney Introduces A New Tax Plan
Under pressure from conservatives, Romney scraps his first plan in favor of the current plan, which maintains the Bush tax cuts, provides another 20-percent rate reduction for all Americans, cuts corporate taxes, and eliminates the estate tax. Romney says he will eliminate unspecified tax loopholes and deductions to pay for the plan. Romney promises he won’t cut taxes for the rich. He also promises his plan won’t add to the deficit.
2/22/12: Romney Promises To Cut Taxes For The 1 Percent
After criticism from fellow Republican presidential candidates, Romney asserts at a primary debate that “we’re going to cut taxes on everyone across the country by 20 percent, including the top 1 percent,” contradicting his previous assertion that he wouldn’t cut taxes for the rich.
3/1/12: Tax Plan Will Lead To $4.8 Trillion In Lost Revenue
The nonpartisan Tax Policy Center scores Romney’s plan, finding that it would cost $4.8 trillion over the next 10 years. TPC does not take into account Romney’s plan to pay for his tax cuts, since he hasn’t yet proposed a specific way to do so. TPC found that Romney’s plan would give the average millionaire nearly $260,000 in tax cuts.
more:
http://thinkprogress.org/economy/2012/10/10/982791/romney-tax-plan-timeline/
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