The detailed tax plans from Republican presidential candidates would provide tax cuts for the highest earners with those from Rick Perry and Jon Huntsman offering the biggest benefits. Mitt Romney’s proposal, which suggests fewer changes, would benefit middle-and lower-income families more than his rivals’ would.
Short line railroads, the government of American Samoa and owners of Nascar tracks are among a diverse group that may encounter added resistance in a drive to protect billions of dollars in U.S. tax breaks.
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem.
Republican presidential candidate Rick Santorum’s plan to cut taxes for many individuals and corporations would expand the U.S. budget deficit by $1.3 trillion in 2015, an analysis released yesterday found.
Last week, I wrote about the nonpartisan Tax Policy Center’s effort to run the numbers on Mitt Romney’s base-broadening, rate-lowering tax reform plan. The numbers, as you may have guessed, didn’t add up. And that’s not just a problem for Romney. It’s a problem for anyone committed to the idea of tax reform.