Romney’s tax plan would cut his own taxes by nearly half, new analysis finds - WaPo

[Bill USA]

http://www.washingtonpost.com/blogs/plum-line/post/romneys-tax-plan-would-cut-his-own-taxes-by-nearly-half-new-analysis-finds/2012/01/18/gIQAHruH8P_blog.html

The revelation that Mitt Romney pays a tax rate of around 15 percent opens the door to another question: How much would his own taxes fall under the tax plan he would pass if elected president?

Here’s the answer, according to a new analysis by Citizens for Tax Justice that was provided to me this morning. Under his plan, Romney in 2013 would see his taxes cut by nearly half of what they would be if you use current law as a baseline.

Another way to put this: If Romney, whose wealth is estimated at as much as $250 million, is elected president and gets his way on tax policy, he would pay barely more than half as much in taxes than he would if Obama is reelected and gets his way — and the Bush tax cuts on the wealthy expire and an additional Medicare tax as part of the Affordable Care Act kicks in.

Here’s how Citizens for Tax Justice, which is liberal leaning but nonpartisan, calculated this finding. It’s based on Romney’s 2011 financial disclosure form for the year 2010, which reported that Romney made an annual income that year of between $6.6 million and $40 million.
(more)

[sharp_stick]

1. I guess his 15% effective rate

is just a bit too onerous for the poor magic underwear guy. What a fucking schmuck.

[Turbineguy]

2. Well

that's the first good reason I've heard why he wants to be prez. That should go over well with the base who want to vote for the guy who will fuck them the worst.

[JohnWxy]

3. Excellent analysis and debunking of all the ludicrous, stupid debate about Romney's jobs numbers.

YOu're absolutely right. It's NOT the Gross jobs created at the specific companies he invested in that should be examined. What's meaningful as far as the economy goes is the NET Jobs created. It's fine if he invested in companies that had better more efficient ways of doing something but the net jobs created in the economy is the only meaningful number here.


....RECOMMENDED.... (if only the M$M talking heads would read this then they would learn something! ...of course, maybe they don't want to)

[neverforget]

4. He deserves it being unemployed and all.

[tanyev]

6. And living on the "real streets of America"

[jmowreader]

5. I have noticed a recurring theme among the Republican contenders

Every Republican contender's tax plan will cut that contender's personal income taxes dramatically. Observe the infamous 9-9-9 plan which, because it would have eliminated the capital gains tax, would have nearly eliminated Herman Cain's tax burden.

"Vote for me because I want you to pay my taxes" isn't a winning slogan, but it's what all of them want.

[Hubert Flottz]

7. Mitt is tired of beeing poor...

let him in the White House door.

He can't make it on his speaking fee money.

Edit...He's had more gals than Horny Herman Cain.

[Yo_Mama_Been_Loggin]

8. Life within the bubble.

Mitt's world's different than ours.

[Kablooie]

9. And if he becomes president you and I will pay him a salary. What a lovely idea.