Monday, October 17, 2011

Romney's Middle Class Tax Cut Forgets About the Middle Class

 Americans have plenty to worry about now and days.  There is a lack of good jobs as the unemployment rate remains disturbingly high, banks seem to be spinning out of control, health care although somewhat remedied is still less than perfect and, less and less money is being used on federal programs when more and more people need it the most.  Yet, with all these things to worry about Pat Garofalo’s blog post on Friday on the thinkprogress.com site reminded me that it could and, probably will get worse.  Mitt Romeny, one of the front-runners of the Republican presidential candidacy, has proposed a tax plan that he boasts would focuses tax breaks on the middle class “the people who need a break” by reducing the capital gain tax.  Yet, as Garofalo points out, almost a third or 73% of what is considered “the middle class” of America would not benefit from this tax plan.  In fact, a family making about 50,000 dollars a year would only get about $200 dollars in tax breaks versus about $1000 in tax brakes the same family gets from the payroll tax cut Obama brought about in 2011.

            I think Romney’s tax plan is a perfect example of the problem I have with most of the ideas Congress has recently come up with: this plan costs a lot of money and doesn’t seem to make any unique or significant changes that we (the American middle class) so desperately need.  Not only is the plan mediocre, it also doesn’t do what it says it will do.   Romney’s major selling point for this tax plan is that it will help the middle class out but I hardly think a measly $200 every year can be justified as giving us “a break”.  So, my next question to Romney and his staff is, do they actually believe that this tax plan would have as dramatic an impact on the majority of American lives as they suggested it would or, do they just not know that the true impact of this plan is almost obsolete? Which is worse?  To me, this feels like just another one of those ideas Congressmen come out with only to show they have not been twiddling their thumbs all year.  Romeny wanted to show that he had been working, that he had been thinking about the problems he will need to remedy if he does indeed get elected as President yet, I feel like what the plan actually did, at least for my part, is the exact opposite.  To me this is evidence that Romney has no idea how to help get America out of this rut let alone that he's capable of running our nation.  Sorry, Romney, but for me, it's a pass. 

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