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Tax Policy Center: Analysis of Mitt Romney’s Proposed Tax Plan

Mitt Romney’s Tax Plan Would Provide Large Tax Cuts to Rich While Increasing Taxes on Middle/Lower Income Taxpayers

Washington, DC–(ENEWSPF)–August 1, 2012.  This paper examines the tradeoffs among three competing goals that are inherent in a revenue-neutral income tax reform—maintaining tax revenues, ensuring a progressive tax system, and lowering marginal tax rates—drawing on the example of the tax policies advanced in presidential candidate Mitt Romney’s tax plan. Our major conclusion is that any revenue-neutral individual income tax change that incorporates the features Governor Romney has proposed would provide large tax cuts to high-income households, and increase the tax burdens on middle- and/or lower-income taxpayers.

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The Tax Policy Center is a joint venture of the Urban Institute and Brookings Institution. The Center is made up of nationally recognized experts in tax, budget, and social policy who have served at the highest levels of government.

Source: http://www.taxpolicycenter.org

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