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‘Which Mitt’ Flip-Flops On His Own Promise

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NEWS FROM THE FLORIDA DEMOCRATIC PARTY
For Immediate Release: November 2, 2011
Contact: Brannon Jordan, (850) 222-3411

 
 ‘Which Mitt’ Flip-Flops On His Own Promise
Tells FL TV Station He’s not Proposing Tax Cuts for the Rich

Tallahassee,FL - During a TV interview with WTVT in Tampa, candidate Mitt Romney accused the anchor of “buying into” Democrats’ “line that my party is the party of tax cuts for the rich” and claimed: “The policies I put forward are tax cuts for the middle class. I’m proposing no tax cuts for the rich.”
 
Florida Democratic Party Executive Director Scott Arceneaux released the following statement in response to candidate Romney’s ridiculous claim:
 
“It’s outrageous that Romney would tell Floridians that he’s not proposing tax cuts for the rich when that’s exactly what he’s doing.  Just two months ago, Romney proposed a plan that would cut taxes for the wealthiest Americans and corporations, but now he’s claiming his policies are tax cuts for the middle class.  It’s clear that ‘Which Mitt’ Romney will say and do anything to get elected, including flip-flopping on promises he recently made.  His comments this afternoon should make it clear to the people of Florida just whose side Mitt Romney’s on.”
 
Romney today: “The policies I put forward are tax cuts for the middle class. I’m proposing no tax cuts for the rich.” [WTVT Tampa, 11/2/11]
 
ROMNEY’S PLAN WOULD LOWER TAXES ON THE WEALTHIEST AND CORPORATIONS
AND ADD TO THE DEFICIT

 
Romney Would Keep The Bush Tax Cuts For The Wealthiest Americans. “Mr. Romney said he would keep the Bush-era income-tax cuts unchanged. Mr. Obama wants the cuts, which were set to expire this year, to disappear for the wealthiest taxpayers.” [Wall Street Journal, 9/6/11]
 
·      Extending The Bush Tax Cuts Is Worth $700 Billion to The Top 2 Percent. [OMB, The Budget for FY2012, Table S-2, pg. 173]
 
Romney Called For Lowering The Corporate Income Tax Rate To 25% From The Current 35% Though Tax Breaks Allow Many US Companies To Pay Little Or No Corporate Tax. “Mr. Romney called for lowering the corporate income tax to 25% from the current 35%. That rate ishigh compared with other advanced economies, but tax breaks allow many U.S.companies to pay little or no corporate tax. Mr. Romney said a lower rate would encourage companies to keep more operations within the U.S.” [Wall Street Journal, 9/6/11]
 
·      Cutting the Corporate Tax Rate To 25 Percent Would Cost $915.5 Billion. [Analysis of the Paul Ryan Budget Plan, Tax Policy Center, 4/7/11]
 
Romney Would Eliminate The Estate Tax.Romney “would seek a balanced budget amendment to the Constitution, cut non-security discretionary spending by 5 percent, eliminate the estate tax and undo the 2010 health care overhaul championed by President Barack Obama.” [AP, 9/6/11]
 
·      The Estate Tax In 2011 Only Affects Estates Worth More Than $5 Million. “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 put in place an estate tax with a $5 million exemption and 35% rate for 2011 and 2012 only.” [Tax Policy Center, 6/13/11]
 
·      The Tax Policy Center Estimates That Only 3,300 People Will Pay The Estate Tax In 2011. “After a single year hiatus in 2010, the estate rate will return in 2011 with a $5 million exemption. TPC projects that 8,600 estate tax returns will be filed for people who died inthat year, of which only 3,300 will owe estate tax totaling about $10.6 billion.” [Tax Policy Center, 6/13/11]
 
·      Eliminating The Estate Tax Would Cost $178 Billion. The CBO/JCT estimates Mitt Romney’s proposal on the estate tax would cost $178 billion. [CBO, “Reducing the Deficit: Spending and Revenue Options, March 2011]
 
ROMNEY’S PLAN WOULD ONLY GIVE THE AVERAGE MIDDLE CLASS FAMILY A TAX CUT OF $54 A YEAR…
 
A Typical Middle-Class Family Nationwide Making Between $40,000-$50,000 Would See An Average Tax Cut Of $54 if Romney’s Proposal To Eliminate Taxes On Capital Gains, Interest, And Dividends Were in Place in 2011.  Over 70 percent of these families would see no benefit at all.  [Tax Policy Center, 6/16/11]
 
ROMNEY OPPOSED OBAMA’S PLAN TO GIVE THE AVERAGE WORKER $1500 A YEAR IN TAX CUTS CALLING IT A “BAND-AID”
 
Romney Said Of The Payroll Tax Cuts In President Obama’s Jobs Act: “I Don’t Like Temporary Band-Aids.” At the Republican primary debate Romney was asked about President Obama’s economic plan. Goldman: “So you would be OK with seeing the payroll tax cuts?” Romney: “Look, I don't like temporary little Band-Aids, I want to fundamentally restructure America's foundation economically.” [Republican Primary Debate, Bloomberg, 10/11/11]
 
·      Under Obama’s Plan A Person Making $50,000 A Year Would Get A Tax Cut Of $1,550 in 2012. “Under Obama's plan, workers making $50,000 a year would see their take-home pay boosted by $1,550 next year; those making $100,000 would get $3,100.” [AP, 9/9/11]

 
 
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