Yes, Mitt Wants You to Pay for Tax Breaks for Billionaires

Tea party rock star senator Marco Rubio rose to the floor of the Senate this week to speak on behalf of excluding Olympic athletes from paying taxes on the bonuses they win when they medal in their events. “Athletes representing our nation overseas in the Olympics shouldn’t have to worry about an extra tax bill waiting for them back home.”

Noble gesture? Or just another opportunity to reward the most successful while denying resources to the most vulnerable?

A study released this week by the Tax Policy Center revealed that Mitt Romney’s tax policy plan, given the most generous reading of the plan possible, wants to raise taxes on poorest 95% of American citizens. On average, middle class families would pay about $2,000 more. You can find out how much you’d pay under Romney’s plan here.

The richest 5% on the other hand would receive tax breaks more than double than they received in the Bush era—the tax breaks the blew the surplus and basically created no jobs. The idea that any billionaire should get one cent in tax breaks while we’re slashing government jobs and services is insanity. This is Romney’s plan that he turned to as he was getting battered in the Republican primary for not being conservative enough. It is the worst of trickle down economics and if he were to lose the election because of it, that would be sweet justice.

Romney’s campaign attacked the group that put out the study, a group they once praised, but they offered no evidence contradicting the findings.

Nukemarine” on reddit described Romney’s plan like this:

Romney Logic: 1 man with 1 billion dollars is better for job growth than 10,000 people with 100,000 dollars.

Put it in Olympic terms. Romney would give Michael Phelps, the pro-beach volleyball guys, Serena Williams and the Dream Team millions in tax breaks. Then he’d have everyone else on the U.S. Olympic team pay more.

This isn’t rewarding success; it’s making success for everyone but the most powerful impossible.

It’s also insane economics. For generations the GOP has hammered the Democratic Party for wanting to raise taxes. Now that they have a unlikable candidate offering tax hikes for 95% of Americans, all they can do is hope no one is paying attention.

[CC image by DonkeyHotey]

  • DidacticVenal71
  • http://www.facebook.com/profile.php?id=100000500068898 Carol Sheffield

    Great post…like the illustration…except, Rmoney’s beginning to look a bit like Dukakis…???

  • K3HY

    We really don’t need another Republican president who will end up resigning in disgrace the same way Richard Nixon did.

    http://articles.boston.com/2011-11-17/news/30411090_1_e-mails-andrea-saul-mitt-romney

    Where are the hard drives Romney? That was state property. Not Romney’s personal property.

    When Romney left the governorship of Massachusetts, 11 of his aides bought the hard drives of their state-issued computers to keep for themselves. Also before he left office, the governor’s staff had emails and other electronic communications by Romney’s administration wiped from state servers, state officials say.Those actions erased much of the internal documentation of Romney’s four-year tenure as governor, which ended in January 2007. Precisely what information was erased is unclear.

  • cokehead

    Mitt Romney fired us and hired a whole bunch of slurpee salesman… We just wanted ta gets high in the parking lot , n shit.. Kiss my ass necro dunker!!

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