Unless you’re earning over $1 million a year that is, then you will see your taxes cut by as much as $146,000 a year. But for the middle class Americans struggling to make ends meet, prepare to pay more in taxes if Mitt Romney becomes your president.
The non-partisan Tax Policy Center analyzed Mitt Romney’s tax proposals and, according to the Wall Street Journal, “concluded that Mr. Romney’s plan would reduce taxes significantly for high-income earners (by 6.9% or $146,000 for households making more than $1 million), and increase federal deficits by $180 billion in 2015 compared to current tax levels.”
And despite Romney’s claims, his plan would also raise taxes slightly for low-income families.
Associated Press: “Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, the study said. People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000.”