How Romney’s Tax Plan Hurts The Poor And Helps The Rich

The Center on Budget and Policy Priorities has the chart (h/t Jon Perr).

…the Romney plan would significantly exacerbate the already serious problem of income inequality in America, conferring extraordinarily large tax cuts on the wealthiest Americans while raising taxes on people making less than $30,000 a year. TPC estimates that people who make over $1 million a year would get an average tax cut of $250,000 in 2015 (increasing their after-tax income by an average of almost 12 percent), while people making between $40,000 and $50,000 would get an average tax cut of $512 (increasing their after-tax income by an average of 1.3 percent), and people making between $10,000 and $20,000 would pay an average $174 more in taxes (decreasing their after-tax income by an average of 1.1 percent).

By: Alan

Alan Colmes is the publisher of Liberaland.