Sunday, December 25, 2011

Romney’s Jobs Plan: Keep Special Interests Giveaways Instead Of Helping The Middle Class

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Mitt Romney claims he’ll lower taxes for the middle class, but one look at his plan shows you where his priorities are. Romney’s “jobs plan” has 160 pages, 59 proposals, and zero new ideas. The Republican candidate - running as an economic expert - has a plan that will cost the country $2.1 trillion, give special interests the power to write their own rules, and provide more tax breaks to large corporations and more tax cuts to the wealthiest. While Romney’s ideas might appeal to the influential Republican Tea Party base, his plan does nothing to restore middle-class security or create a fair economy where everyone plays by the same rules.
  • Cutting the Corporate Tax Rate To 25 Percent Would Cost $915.5 Billion. [Analysis of the Paul Ryan Budget Plan, Tax Policy Center, 4/7/11]
  • Extending The Bush Tax Cuts For The Top 2 Percent Would Add $700 Billion To The Deficit. [OMB, The Budget for FY2012, Table S-2, pg. 173]
  • Eliminating The Estate Tax Would Cost $290 Billion. The CBO/JCT estimates Mitt Romney’s proposal on the estate tax would cost $290 billion. [CBO, Reducing the Deficit: Spending and Revenue Options, March 2011]
  • Repealing The Affordable Care Act Would Put Insurance Companies Back In Charge Of Patient Health Care And Would Increase The Deficit By $210 Billion. "CBO and JCT estimate that, on balance, the direct spending and revenue effects of enacting H.R. 2 [repealing the Affordable Care Act] would cause a net increase in federal budget deficits of $210 billion over the 2012-2021 period." [CBO, 2/18/11]
  • Total - $2.1 Trillion

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