Tuesday, August 7, 2012

Canada: Romney Hood

The National Post

Meet ‘Romney Hood,’ the tax plan Barack Obama says robs the middle class to pay the rich

By Margaret Chadbourn, Steve Holland, Reuters

It was the latest twist in the Obama campaign’s effort to paint Obama as a champion of the middle class while casting Romney, one of the richest men to ever run for the White House, as intent on protecting the fortunes of wealthier Americans.

Obama sought to back his accusation by citing a report last week by the nonpartisan Tax Policy Center that found that Romney’s proposal to slash income taxes by 20% across the board would boost income for the wealthiest taxpayers while reducing it for lesser earners.

The study calculated that Romney’s tax cuts would boost after-tax income by an average of 4.1 percent for those earning more than $1 million a year, while reducing by an average of 1.2 percent the after-tax income of individuals earning less than $200,000.

Read it at The National Post

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