Middle-class Americans are beginning to learn what Mitt Romney’s tax plan would mean for them. The Wall Street Journal reports:
A new study released Wednesday suggests that Mitt Romney’s tax plan would benefit the rich and hurt the poor and middle class, no matter how current blanks in the plan are filled in.
Mr. Romney’s ambitious plan would extend current Bush-era tax rates, plus cut rates another 20 percent, eliminate investment taxes altogether for households making under $200,000, and abolish the dreaded alternative minimum tax. But it provides few details about what tax breaks would be pared to offset the budget hit.
The study basically concludes that eliminating tax breaks to offset the impact of Mr. Romney’s rate cuts would inevitably hurt the middle class.
Want more details about Governor Romney’s plan? Check out the full report.