Mitt Romney has proposed permanently extending the Bush 2001-03 tax cuts, eliminating taxation of investment income of most individual taxpayers (capital gains) , reducing the corporate income tax, eliminating the estate tax, and repealing the taxes enacted in 2010’s health reform legislation. The latter increased taxes on the wealthy.
- On average, households making less than $20,000 would see their taxes increase by more than 60 per cent.
- Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250,
- People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000.
- Romney would also repeal tax increases on the wealthy that were part of President Barack Obama's health care package.
Romeny tax tables: http://taxpolicycenter.org/taxtopics/Romney-plan-tables.cfm
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