Report: Romney's Tax Plan Would Hike Middle Class Taxes to Pay for Tax Cuts for Millionaires and Billionaires
Richmond, VA—According to nonpartisan tax experts, if Mitt Romney wants to pay for his budget-busting $5 trillion tax cuts tilted towards millionaires and billionaires, he'll have to raise taxes by $2,000 on the average middle-class family with children. Democratic Party of Virginia Chairman Brian Moran released the following statement:
"The findings of the nonpartisan experts at the Tax Policy Center clearly lay out what the policies of a Romney Administration would be. In order to pay for his $5 trillion tax plan skewed to the wealthiest, Mitt Romney would raise taxes on middle class families. The people of Virginia deserve better than these warmed over, failed policies of the past.
"Middle-class families will have a clear choice in this election and based on this new report from independent experts, that choice just got that much easier. Mitt Romney would finance $5 trillion in tax help for the wealthy on the backs of middle class families. America's hardworking middle-class families can't afford a tax hike and it's shameful that Mitt Romney is willing to impose one on them so that millionaires and billionaires -- like him -- can get an additional tax break.
"The President understands that America's economy grows when the middle-class prospers -- but Mitt Romney doesn't see it that way. This new independent report is further proof that he simply doesn't understand the needs of middle-class families. Romney's plan would do exactly what we can't afford: raise taxes on the middle class to help pay for tax cuts for the rich.
"The choice in this election is clear - President Obama has the right plan to move us forward, prevent a tax hike on middle class families, and reduce our deficit in a balanced way while Mitt Romney would double down on the failed policies of the past - the very policies that benefited a few while devastating the middle class and our economy."