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If a $1500 middle class tax cut is a little band-aid, then why does Romney’s plan only offer $54?

December 10, 2011 at

IF A $1500 MIDDLE CLASS TAX CUT IS A LITTLE BAND-AID, THEN WHY DOES ROMNEY’S PLAN ONLY OFFER $54?

First, Romney was against extending the payroll tax cut because it was a “temporary little Band-Aid.”  Then, he said he’d “like to see the payroll tax cut extended” because it helps American families. And tonight, he again called the payroll tax cut a “little Band-Aid.” His flip-flopping on the payroll tax cut - and his economic plan - shows middle-class Americans whose side he’s really on. And if $1500 for the average American family is a “little Band-Aid,” then why does his plan only give them $54?

REALITY: ROMNEY ATTACKED 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 Little 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]  

REALITY: ROMNEY DOUBLED DOWN ON CALLING THE PAYROLL TAX CUT A “BAND-AID” JUST DAYS AFTER ENDORSING THE CUT

Romney: “You Have A President That All He Wants To Do Is Talk About A Payroll Tax BandAid.” Romney: “I just don’t understand how you can have a president in office for three years with 26 million people out of work or stopped looking for work or are in part-time work, under-employed and you have a president that all he wants to do is talk about a payroll tax band-aid. I’m not looking to raise the taxes but that band-aid is not going to fix America.” [Romney, Cedar Rapids Town Hall, 12/9/11]  

Mitt Romney Specifically Endorsed Extending A Payroll Tax Cut.  “Mitt Romney specifically endorsed extending a payroll tax cut for another year on Monday, the same day President Obama assailed Republicans in Congress for opposing such a measure.  Romney said: ‘I would like to see the payroll tax cut extended because I know that working families are really feeling the pinch right now -- middle-class Americans are having a hard time,’ he said on conservative talker Michael Medved's radio show.” [MSNBC, 12/05/11]

  • Romney Embraced One Of President Obama’s Signature Proposals – An Extension Of The Payroll Tax Cut – After Just Weeks Ago Deriding The Cuts As “Little Band-Aids.” “On Monday, Mitt Romney embraced one of President Obama’s signature proposals — another one-year extension of a cut in payroll taxes, after just weeks ago deriding the idea as ‘little Band-Aids’ that offered only a temporary fix. ‘I would like to see the payroll tax cut extended just because I know that working families are really feeling the pinch right now — middle-class Americans are having a hard time,’ Mr. Romney said Monday on Michael Medved’s conservative radio talk show.” [New York Times, 12/5/11; Michael Medved Radio Show, 12/5/11]

REALITY: ROMNEY’S OWN 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]  

  • Wall Street Journal’s Paul Gigot On Romney’s Rhetoric About Middle Class Tax Cuts: Romney “Isn’t Proposing To Cut Their Income Taxes, Though He Skillfully Left The Impression That He Is.” “Now, there is a professional at work: Dodge the flat-tax debate, pivot to a whack at President Obama, and stress that you share the aspirations of tax reform but first we must cut taxes on "the middle class," who happen to be most voters. This obscures the fact that Mr. Romney is only proposing to cut capital gains and dividend taxes on those Americans, most of whom don't have many capital gains or dividends. He isn't proposing to cut their income taxes, though he skillfully left the impression that he is.” [Paul Gigot Column, Wall Street Journal, 11/10/11]
  • National Review’s Larry Kudlow: Romney’s Capital Gains Tax Cut For Couples Making Less Than $250,000 “Is Not Something That Directly Bears On $75,000-A-Year Earners Who Have Very Few Capital Gains.” “Romney talked about helping the middle class. Fine. But his proposed elimination of the capital-gains tax for couples making less than $250,000 is not something that directly bears on $75,000-a-year earners who have very few capital gains.” [National Review, 11/10/11]      
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