1. theatlantic:

The Agonizing, Complicated Politics of Mitt Romney’s Tax Plan

Mitt Romney has two tax principles. First principle: I’m cutting taxes. Second principle: “People at the high end” should pay the same share of total taxes. Sounds simple enough. It isn’t.
About that first principle: Romney wants to extend the 2001/2003 tax cuts cuts permanently and cut each marginal tax rate by a fifth. That would bring the top marginal tax rate, now at 35 percent, down to 28 percent. To make up some lost revenue, he says he’d eliminate some deductions and exemptions.
About that second principle: “People who are at the high end” stand to keep a lot of extra money when Romney cuts their tax rates by 20 percent. But they won’t pay a higher share of overall taxes? Something’s gotta give.
Read more. [Image: Derek Thompson]

    theatlantic:

    The Agonizing, Complicated Politics of Mitt Romney’s Tax Plan

    Mitt Romney has two tax principles. First principle: I’m cutting taxes. Second principle: “People at the high end” should pay the same share of total taxes. Sounds simple enough. It isn’t.

    About that first principle: Romney wants to extend the 2001/2003 tax cuts cuts permanently and cut each marginal tax rate by a fifth. That would bring the top marginal tax rate, now at 35 percent, down to 28 percent. To make up some lost revenue, he says he’d eliminate some deductions and exemptions.

    About that second principle: “People who are at the high end” stand to keep a lot of extra money when Romney cuts their tax rates by 20 percent. But they won’t pay a higher share of overall taxes? Something’s gotta give.

    Read more. [Image: Derek Thompson]

    The Atlantic »

  2. Notes

    1. gazetaoriental reblogged this from theatlantic and added:
      About Atlantic Magazine:
    2. tessafox reblogged this from 2012swingstates
    3. tiffehr reblogged this from theatlantic
    4. bseverns reblogged this from theatlantic
    5. 2012swingstates reblogged this from theatlantic
    6. theansible reblogged this from theatlantic and added:
      Mitt Romney’s tax plan is idiotic.
    7. mediasphere reblogged this from theatlantic
    8. volusiaforobama reblogged this from theatlantic
    9. lightinwinter reblogged this from theatlantic
    10. waltzfordeborah reblogged this from theatlantic
    11. noonday reblogged this from theatlantic
    12. nomoretexasgovernorsforpresident reblogged this from theatlantic
    13. jimrehs reblogged this from theatlantic and added:
      Mitt is an idiot. Stupidest idea. Why not make the rich richer by not working for it. Total freaking moron Mitt is.
    14. wavvegoddess reblogged this from theatlantic
    15. thevalidfallacy reblogged this from theatlantic
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    18. nothingman reblogged this from theatlantic
    19. contentment-of-cats reblogged this from theatlantic
    20. will--i--graham reblogged this from theatlantic
    21. theatlantic posted this

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