Unsatisfied with America's current state of inequality, Republicans like Mitt Romney are planning to raise taxes on the poorest Americans. In Romney's case, the poorest 40% of Americans would actually get a tax hike under his proposed budget plan, while the upper tax brackets would get a considerable decrease. This is not a joke. From Reuters:
President George W. Bush cut taxes for almost everyone who paid income taxes. Romney would make the Bush tax cuts permanent. But that’s only a first step.
He would also raise taxes on poor families with children at home and those going to college. Romney does this by reducing benefits from the child tax credit and the earned income tax credit and by ending the American Opportunity tax credit for college education.
Without these tax breaks, the poorest fifth of taxpayers would pay $157 more in taxes in 2015 than under current policy, the Tax Policy Center says in its analysis of Romney’s plan. The second poorest group would pay $82 more, according to the center, whose past work has been praised by Republicans and Democrats alike.
read full details Reuters
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