Obama lies about Romney Tax Plan

President Obama has stated emphatically that Mitt Romney’s tax plan raises taxes on the middle-class to benefit the wealthy (Obama speech in Ohio, 8/1/2012).  Not so.  The following comes from Romney’s official website:

America’s individual tax code applies relatively high marginal tax rates on a narrow tax base. Those high rates discourage work and entrepreneurship, as well as savings and investment. With 54 percent of private sector workers employed outside of corporations, individual rates also define the incentives for job-creating businesses. Lower marginal tax rates secure for all Americans the economic gains from tax reform.

  • Make permanent, across-the-board 20 percent cut in marginal rates
  • Maintain current tax rates on interest, dividends, and capital gains
    • Eliminate taxes for taxpayers with AGI below $200,000 on interest, dividends, and capital gains
  • Eliminate the Death Tax
  • Repeal the Alternative Minimum Tax (AMT)
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