According to a study by the Brookings Institute, if Mitt Romney were to become president and implement his plan to reduce tax rates by 20 percent while eliminating tax deductions in order to pay for it, taxpayers with more than $200,000 would experience a tax cut. But everyone else — 95 percent of Americans — will see their taxes increase. And this result occurs even assuming that Romney would eliminate tax deductions so as to make the tax as progressive as possible:
What the Brookings Institute is telling us is simple; Romney plans to redistribute income from the 99 to the 1 percent via his tax plan. There’s something stinkier here than meets the eye.
Romney is a thinly disguised Social Darwinian. To him, if you’re rich, you’re better. Everybody else is a lesser human being. Apparently, it has not occurred to Wall Street Mitt that being born with a silver spoon in your mouth, like he was, doesn’t make you a good business person, or a better person. It just means you’re born with connections and a plethora of advantages poor and middle income people aren’t blessed with. And more importantly, Wall Street Mitt isn’t intelligent enough to understand that just because a person can become president and pass legislation through congress that redistributes income from the 99 percent to himself and his rich buddies doesn’t make the rich the superior people; in reality it makes them parasites, the lowest of the low, somewhat similar to maggots. You can’t get much lower than that, and that’s something that “Parasite Wall Street Mitt Romney” is too stupid to understand.
Below is a quote from a study by the Tax Policy Center of the Brookings Institute.
“To estimate how average household tax burdens among different income groups would change as a result of this shift, we assume that the available tax expenditures are curtailed “from the top down” in order to make the tax plan as progressive as possible…Even after eliminating all available tax expenditures for households earning more than $200,000, this group still faces a net tax break. Americans making over $1 million would see an increase in after-tax income of 4.1 percent (an $87,000 tax cut), those making between $500,000 and $1 million would see an increase of 3.2 percent (a $17,000 tax cut), and those making between $200,000 and $500,000 would see an increase of 0.8 percent (a $1,800 tax cut).
Because taxpayers above $200,000 as a group have received a net tax cut, revenue neutrality requires that taxpayers below $200,000—about 95 percent of the population—experience a tax increase.”