Just What Is Tax Policy

I don't generally go this far, but I just finished reading an article in the Washington Post that talked about Mitt Romney's proposed tax plan. Now to be honest, I guess I missed that. But this article refers to a study of that plan by two groups of researchers. The Brookings Institute and the nonpartisan Tax Policy Center. Based on their findings, it would reduce tax collections by $360 billion per year. To make that up you can kiss good bye to such tax breaks as "mortgage interest, employer provided health-care insurance, education, medical expenses, state and local taxes and child care." But even bigger news than that is the tax savings of $87,000 for the top 5% and an increase of $500 per year in taxes for the bottom 95%. These aren't my numbers. The Brookings Institute and Tax Policy Center are the ones that came up with these figures. So, if Mr. Romney gets elected president, and unless you fit into that 5% group that will get, on average, $87,000, you can expect to pay an extra $500. Now to someone like Mr. Romney, $500 is a small price to pay so that the richest 5% can get an extra savings of $87,000. Also a small amount to someone like Mr. Romney. Now I'm not telling anyone how to vote. If you're a 5% person, you might feel Mr Romney is onto something very helpful and may wish to vote for him. On the other hand if you're looking at paying out an extra $500 in taxes, you may disagree with this plan he's come up with. Or you may even feel that the richest 5% are desperately in need of that extra $87,000 and are willing to help pay for it. If so, you might wish to vote for Mr Romney. Otherwise, you might want to think again about who you want to vote for. I'm just saying.